The Association of Master Bakers and Caterers of Nigeria (AMBCN) says over 500,000 workers in the bakery industry may lose their jobs if and when they are forced to shut down operations following the hike in cost of materials.
Chairman of Lagos state branch of the association, Chief Matthew Ayoola, said the increase in the price of baking materials by the federal government was a direct threat to the survival of the employers and employees.
“A bag of flour rose from N28,000 to N35,000 at the moment and sugar from N37,000, to N43, 000, along with other materials rising in cost, including nylon, butter, improver, preservatives, flavour, and vegetables, and the cost of distributing the bread to the retailers,” he said.
Ayoola disclosed that over 50 members of the association had already shut down their factories because of the unfavourable business environment.
He added that the remaining factories that had been struggling to stay in business may be forced to close shop and throw thousands of workers into the labour market.
Ayoola however appeal to the federal government for urgent intervention and proffer immediate solution to avoid further increase in price of bread.
