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Nigerians to pay 15% more for bread, biscuits

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Nigerians to pay more for bread
The Association of Master Bakers and Caterers of Nigeria, AMBCON, say they have been forced by the tough economic crunch to increase the prices of bread, biscuits and other related commodities.
The increase of at least 15%, according to the group will take effect from the 17th of this October.
While blaming the development on the high cost of production, the association in a communique after its enlarged joint meeting of the South-South and South-East geo political zones held in Asaba, also decried that Nigeria’s economic recession was taking a more dangerous twist.
The communique was co-signed by chairman of the Joint Zonal Council, Sir Hilary Eze, Secretary, Elder Akpan Jude and 12 others from the zones, including Enugu, Anambra, Edo, Ebonyi, Cross River, Delta and Akwa-Ibom States.
It stated that “the adjustment of price is as a result of the sudden increase in the prices of sugar from N7,000 to N19,000, butter from N4,200 to N12,000, yeast from N10,500 to N17,000 and flour from N9,700 to N12,000.
“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 15 per cent.”
 

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