The Association in a communique after its enlarged joint meeting of the South-South and South-East geo political zones held in Asaba, blamed the development on the high cost of production.
Decrying that Nigeria’s economic recession was taking a more dangerous twist, the Association in the communique co-signed by chairman of the Joint Zonal Counci, Sir Hilary Eze, Secretary, Elder Akpan Jude and 12 others from the zones, which include Enugu, Anambra, Edo, Ebonyi, Cross River, Delta and Akwa-Ibom States, said “the adjustment of price is as a result of the sudden increase in the prices of sugar from N7,000 to N19,000, butter from N4,200 to N12,000, yeast from N10,500 to N17,000 and flour from N9,700 to N12,000.
“After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 15 percent.”
Appealing to the Federal Government to come to their aids, they wondered why all entreaties to the Ministry of Agriculture and Natural Resources to safe them from loosing grip of the business, fell on deaf ears.
Nigeria is in trouble , this economic reccetion we cause problem, pmb should do something before we all die of hunger in this contary , or he should resign for somebody else to take over power:)
ReplyDeleteMy pple by his GRACE WE WILL SURVIVE THIS RECESSION FOR D FACT DAT WE BELIV IN ONE ND THE ONLY TRUE GOD OUR MAKER ND D PILLAR DAT HOLD OUR LIFES WE R CHAMPIONS PPLE OF GOD IT IS WELL IF TODAY IS BAD REMEBER DAT TOMORROW WILL B GOOD COS THERE IS GOD. Oga adi nma
ReplyDeleteIs it because of recession or Naira devaluation ! Govt is doing well on fight against corruption , but most Nigerians will judge this govt base on food prices ! There is no Story for hungry man ! NigerIans will revolt against this govt if price of food is beyond ordinary man . Maybe govt do not know this, foods inflation is more than 100% ! Govt may be right on buy Nigerian products only , but no responsible govt will leave prices in the hand of few monopolist. Foods should not be for priviledged but for all ! Therefore , govt must subsidized food production through low interest rate, research, free custom duties on imported tools,machines, chemicals and inputs ! After corruption, govt priority should be on aggressive and revolutionary campaign on food production !
ReplyDeleteThey too will soon go out of the market, shikena.
ReplyDeleteI suspect that for long.
ReplyDeleteNo prob. The higher the price, the lower demand
ReplyDelete