The Association of Master Bakers and Caterers of Nigeria (AMBCN) has warned that over 500,000 workers in the bakery industry are at risk of losing their jobs if the rising cost of materials causes shut down of operations
The Chairman of the Lagos state branch of the association, Chief Matthew Ayoola, raised concerns about the recent increase in the price of baking materials by the federal government, which has posed a direct threat to the survival of both employers and employees.
According to Chief Ayoola, the price of a bag of flour has surged from ₦28,000 to ₦35,000, while sugar has jumped from ₦37,000 to ₦43,000. Additionally, the costs of other essential materials such as nylon, butter, improver, preservatives, flavor, and vegetables have also experienced significant increases.
These escalated costs, coupled with the soaring expenses of distributing bread to retailers, have put tremendous pressure on the already struggling industry.
He futher noted that the situation has already taken its toll, with over 50 members of the AMBCN being forced to shut down their factories due to the unfavorable business environment. The remaining factories are barely hanging on, and there are fears that they too may have to close shop, resulting in thousands of workers being thrown into the labor market.
Chief Ayoola appealed to the federal government for intervention and an immediate solution to prevent further price increases in bread. The AMBCN emphasised the urgent need for the government's support to stabilise the baking industry and protect the livelihoods of its workers.