According to the Premium Breadmakers Association of Nigeria (PBAN), the four-day warning strike that started on Thursday has been suspended.
The PBAN President, Emmanuel Onuorah, stated on Tuesday that his members had decided to raise bread prices to lessen the impact of the challenging operating climate.
He said, “We have ended the warning strike/withdrawal of services. We finished it on Monday, and we have resumed business. We have begun production and selling of bread since yesterday (Monday).
“Master Bakers have started too. We ended it at the same time. You know it was a joint resolution from the Master Bakers and PBAN. So, we have started work.
We did increase the price of bread. We increased our bread price by 10 per cent; master bakers increased their bread price by 20 per cent. Since we wouldn’t have loved to implement any price increase, it is the only way we can remain in business.”
Onuorah asserts that despite the most recent increase, the bakers are still operating at a loss and have been compelled to employ several survival techniques to stay in business.
According to BizWatch, PBAN-affiliated bakers announced last week that they would be stopping manufacturing.
According to a statement released by the group, running a bakery in Nigeria has become nearly difficult due to the industry’s negative effects of ongoing price hikes for diesel and baking supplies.
The statement read in part, “In a move to ensure the survival of the premium bread-making industry in Nigeria, we have decided to embark on a withdrawal of services beginning from Thursday 21st of July, 2022 for four days in the first instance and where there is no intervention from the government, we shall escalate the duration of the withdrawal.”
“The reasons for the withdrawal of services included an incessant increase in the price of baking materials, Federal Government’s 15 per cent wheat development levy on wheat imports, NAFDAC’s N154,000 penalty charged for late renewal of certificates, the inability of its members to access grants and soft loans being given by the Central Bank of Nigeria to Micro, Small and Medium-Scale Enterprises and multi-agencies regulation of the bread-making industry.”
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