The Premium Breadmakers Association of Nigeria (PBAN) has dismissed the claim regarding a reduction in the price of a 50kg bag of flour to N35,000.
The association expressed concerns over the continued hike in the price of flour, stating that a 50kg bag currently sells for an average of N59,000, depending on the brand and location of purchase.
Reacting to a viral social media post that claimed a drop in flour prices, the association, in a statement signed by Emmanuel Onyoh, its general secretary, described the post as “malicious and highly deceptive.”
“The attention of the Premium Breadmakers Association of Nigeria has been drawn to a viral, malicious, and highly deceptive social media post claiming that the price of flour has plummeted to between N35,000 to N40,000 per 50kg bag,” the statement read in part.
According to Onyoh, the post further accuses bread makers of wickedly refusing to reduce the prices of bread to reflect this purported drop.
“We wish to state categorically that these claims are false, baseless, and a calculated attempt to incite the Nigerian public against hardworking bakers who are struggling to stay afloat,” Onyoh noted.
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However, the association acknowledged a marginal price reduction of about N2,000, but described it as a “drop in the ocean” compared to the overall production deficit.
It highlighted the rising costs of energy, equipment maintenance, logistics and distribution, minimum wage, and multiple taxation as major expenses incurred in bakery operations.
“Needless to say, besides flour, there are other various ingredients required for operational costs and processes in bread. PBAN members are currently battling a perfect storm of economic pressures that make a price reduction impossible at this time,” he added.
Onyoh noted that the cost of electricity and diesel required to power industrial ovens and generators has reached an all-time high, and this is heaping on production costs.
“We assure the general public that our members shall not hesitate to reduce the prices of bread the moment the cost dynamics and the Nigerian economy reflect a genuine and sustainable downward trend.”
The association affirmed that its primary goal remains the provision of quality, safe, and affordable bread that meets the highest regulatory standards.
Adding that, “We urge the public to disregard the misinformation being spread by keyboard critics who have no understanding of the manufacturing reality in Nigeria.”
