A stakeholder within the breadmaking value chain has warned against a high price review. DAILY POST reports.Information Guide Nigeria
The President of the Premium Breadmiller Association of Nigeria, Emmanuel Onuorah, revealed this on Arise Television while discussing a proposed bread price hike in Nigeria.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaOnuorah decried that further increases in bread prices would mean less profit for breadmakers.
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He said, “The wheat-flour value chain will always tell you that foreign exchange prices of bread are increasing because we source their forex from the parallel market; that is, their catchphrase then.
“Now that President Tinubu’s government has liberalized the forex window, they are saying they were getting it at the then-official price. What does this tell you?
“They want the bread business to be unprofitable for breadmakers. Recently we started hearing that they want to increase bread to as much as N5,000 or maybe around N2500, but because of the tension, they have to put it on hold. We are calling on them not to do that; they have been buying forex at a parallel market rate, so what has changed?”NYSC Portal
“Everybody must make sacrifices now; the same goes for sugar refiners”, he stated.
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