Bread makers dismiss 50kg flour price reduction to N35,000

The Premium Breadmakers Association of Nigeria (PBAN) has dismissed the claim regarding a reduction in the price of a 50kg bag of flour to N35,000. The association, however, expressed concerns over the continued hike in the price of flour, stating that it currently ranges between N55,000 and N62,000, depending on the brand and the location […]

The Premium Breadmakers Association of Nigeria (PBAN) has dismissed the claim regarding a reduction in the price of a 50kg bag of flour to N35,000.

The association, however, expressed concerns over the continued hike in the price of flour, stating that it currently ranges between N55,000 and N62,000, depending on the brand and the location of purchase.

Reacting to a viral post on social media that claimed a drop in flour prices, the association, in a statement signed by its General Secretary, Emmanuel Onyoh, described the post as “malicious and highly deceptive.”

“The attention of the Premium Breadmakers Association of Nigeria (PBAN) has been drawn to a viral, malicious, and highly deceptive social media post claiming that the price of flour has plummeted to between N35,000 to N40,000 per 50kg bag.

“The post further accuses bread makers of wickedly refusing to reduce the prices of bread to reflect this purported drop.

“We wish to state categorically that these claims are false, baseless, and a calculated attempt to incite the Nigerian public against hardworking bakers who are struggling to stay afloat,” the statement read.

The association, however, acknowledged a marginal price reduction of approximately N2,000, describing it as a “drop in the ocean” compared to the overall production deficit.

 

 

 

It highlighted the rising costs of energy, equipment maintenance, logistics and distribution, minimum wage, and multiple taxation as major expenses incurred in bakery operations.

 

 

 

“Needless to say, besides flour, there are other various ingredients required for operational cost and processes in bread. PBAN members are currently battling a perfect storm of economic pressures that make a price reduction impossible at this time.

 

 

 

“The cost of electricity and the diesel required to power industrial ovens and generators has reached an all-time high,” the statement reads.

 

 

 

The association stated that its members “shall not hesitate to reduce the prices of bread the moment the cost dynamics and the Nigerian economy reflect a genuine and sustainable downward trend.”

 

“Our primary goal remains the provision of quality, safe, and affordable bread that meets the highest regulatory standards. We urge the public to disregard the misinformation being spread by keyboard critics who have no understanding of the manufacturing reality in Nigeria,” it said.