April 16, 2024
The Premium Bread Makers Association of Nigeria (PBAN) has revealed the reasons behind the growing cost of bread, which is the most common food in Nigeria.
PBAN stated that the majority of the ingredients used to produce bread are imported and that this has an impact on the cost of bread in Nigeria due to exchange rate volatility.
The association president, Emmanuel Onuorah, said this during an interview on Arise News’ Global Business Report on Tuesday, April 16.
The war between Russia and Ukraine, he continued, has a severe effect on bread manufacturing since Nigeria imports wheat from both of the warring European neighbours.
He said: “Bread is a staple. Bread is supposed to be a pick-and-grab food at any location. It’s on the table for the children.
“Bread is a spiritual product, outside of being physical because it does so much for humanity. As bakers, for us in Nigeria, it’s been tough for us.
“Some of the basic materials we use in producing our bread are imported into Nigeria, that is about almost 98 percent and that’s the truth.”
“In a country, where you almost don’t have a strong productive base, and at that, everything is dependent on the dollar. When dollar-naira exchange is volatile, when (there is) FX issue where naira begins to go down against the dollar, we are in a problem.”
Speaking further about the significance of bread prices to Nigerians, on Tuesday, Onuorah said: “The kind of bread we eat in Nigeria, there is a way Nigerians want their bread, the structure of the bread.
“You know we’re are the highest consumers of white bread globally. When you go to other places, they take croissants, they take baguettes, and other forms of bread.
“But, our bread (in Nigeria) comes in certain shapes. It must be sweet, it must be soft, and succulent. If you don’t produce it that way, you’re out of business.”
“And this whole thing, 60 to 65 percent of the whole thing comes from wheat, and most of our wheat comes from Ukraine, Russia, and other parts of the world.”
