Rivers Bakers Adjust Bread Prices Due to Rising Costs

Rivers Bakers Adjust Bread Prices Due to Rising Costs

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The Master Bakers Association of Nigeria, Rivers State chapter, has announced a price hike for bread, citing escalating expenses.

Dr. Chidi Emmanuel, the State Chairman, confirmed the price adjustment after an emergency meeting of the association in Port Harcourt, the state capital.

Dr. Emmanuel attributed the price increase to the high cost of materials, increased cargo clearance costs by the Central Bank of Nigeria, and rising energy expenses.

He explained, “There is going to be a price increment on all bread sizes from Thursday because most of the materials we use in bread production are imported. With the Naira’s decline from N1,000 to about N1,500 to the dollar, prices must rise. This is the stance of the master bakers in Rivers State.”

“This decision aligns with a nationwide directive from the national association, with some states implementing it before today. We are complying with the national headquarters’ directive,” he added.

While assuring consumers of maintained production standards, Dr. Emmanuel urged understanding during this adjustment period.

He emphasized, “Consumers should bear with us and hope for improvements in the future. If raw material prices decrease, we will convene a meeting to adjust prices downwards. Conversely, if prices continue to rise, we will adjust accordingly. It’s a matter of supply and demand.”

Dr. Emmanuel urged producers to avoid compromising on quality and advised them to consider consumers’ purchasing power to minimize losses.

The association will release the revised prices for all bread sizes in the state starting Thursday.

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