New Telegraph

PBAN confirms New Telegraph’s story on price of bread

A group, the Premium Bread-Makers Association of Nigeria (PBAN), has said that it is contemplating doubling the price of bread in the country.

The association’s move has confirmed New Telegraph’s exclusive report on March 14 that Nigerians should expect a spike in the price of bread by 100 per cent and other confectionery over the Russia/Ukraine war amidst wheat scarcity, increased energy cost, electricity tariff and scarcity of foreign exchange.

Precisely, the association said it is either this increase or liquidation for most of them. The union lamented that the cost of diesel and increasing foreign exchange rates have caused many of its members across the country to close down their businesses.

PBAN President, Emmanuel Onuora, described the current economic situation as very bad and capable of killing the bread industry in the country.

He said the only choice is to increase the price of the commodity, or they would be forced to stay out of business by the crippling economic situation.

Read Previous

Mass Com students tasked on interest, passion for journalism

Read Next

5 interesting things to learn about the life Nigerians

Leave a Reply

Your email address will not be published. Required fields are marked *