FOR YOUR PERSONAL UPDATES– Register Now

  • CONTACT
  • MARKETCAP
  • BLOG
xanifinance.com
  • BOOKMARKS
  • Home
  • News
  • Crypto
  • Tech
  • Industries
  • Economics
  • Tutorials
    Buy and Sell

    Buy, sell and use crypto

    Earn Crypto

    Learn and earn crypto

    Crypto Wallet

    The best self-hosted crypto wallet

  • Pages
    • Blog Index
    • Contact Us
    • Customize Interests
Reading: Abuja bakers face decline in patronage due to high baking costs
Share
xanifinance.comxanifinance.com
Aa
Search
  • Home
  • News
  • Crypto
  • Tech
  • Industries
  • Economics
  • Tutorials
  • Pages
    • Blog Index
    • Contact Us
    • Customize Interests
Have an existing account? Sign In
Follow US
  • Home
  • News
  • Crypto
  • Tech
  • Industries
  • Economics
  • Tutorials
  • Pages
© XaniFinance News Network. Xani Digital.All Rights Reserved.
xanifinance.com > Blog > Nigeria Business News > Abuja bakers face decline in patronage due to high baking costs
Nigeria Business News

Abuja bakers face decline in patronage due to high baking costs

Last updated: 2024/02/19 at 1:01 PM
Published 19 February 2024
Share

The bakers pleaded with the government to find an immediate but lasting solution to the predicament.

Some bakers in Bwari Area Council, Abuja, have attributed the low patronage of pastries to the continuous increase in the cost of baking materials.

The bakers expressed their views in separate interviews with the News Agency of Nigeria (NAN) on Monday in Abuja.

Solomon Amedu, a baker and manager of a bakery in Bwari, told NAN that his bakery had increased the price of bread, doughnuts, burgers and other pastries and this discouraged buyers.

Amedu said the prices of bread increased three times in 2023 due to the increase in prices of baking materials. This, he added, transited into 2024 and forced the bakery to reduce the number of production because of the decrease in patronage, especially for bread.

“Before now, we bake twice a day and sell over 100 pieces of bread alone; because we have people who come here to buy in bulk to resell either in their shops or by the roadside.

“Last year, our production reduced after we increased the price of the different types of bread we baked.

“The lowest loaf used to sell for ₦700 and the biggest, a special type of bread called the chicken bread, sold for ₦1000.

“Now, the lowest loaf is ₦1,100 and the chicken bread now costs ₦1,500.

“We now bake once a day of just 60 loaves of bread, 20 pieces of doughnuts, 20 burgers and yet, we hardly sell all in one day,’’ he said.

Amedu added that some of his customers had complained that they could not afford the big loaves anymore and so, have resolved to buy smaller and cheaper locally produced loaves. He said that reducing the prices of pastries would not only bring the business down.

Similarly, Miss Cynthia Okoye, another baker, said that business had gone down because she did not bake as much as she used to in the past. This, she attributed to the increase in the cost of baking materials as well as other food items in the market.

“Last year, by this time, I got as many as 20 orders for Valentine’s celebrations alone.

“Business has been very poor because my customers no longer bake birthday cakes, especially for children, instead, they just buy biscuits and drinks and share,” she added.

Okoye, who also attributed the high cost of baking materials and other foodstuff to the increase in the dollar exchange rate, pleaded with the government to find an immediate but lasting solution to the predicament.

Malam Shefiyu Aminu, a trader, who owned a wholesale store in the area, also attributed the increase in the price of the food items to the increase in dollar exchange rate.

According to Aminu, a bag of flour in December 2023, was sold for ₦35,000 but now goes for between ₦46,000 to ₦48, 000, depending on the market location in the FCT. He also said that a bag of sugar in December 2023, sold for ₦62, 000 but currently ranged from ₦75,000 to ₦80,000 per bag, while a carton of butter rose from ₦23,000 to ₦28,000 in less than two months.

You Might Also Like

How Personal Experience Shapes Profitable Business Concepts (and Why It’s Your Competitive Advantage)

Best practices for securing loans from Nigerian microfinance banks

How Underdogs Perform in FA Cup Finals – And Why Palace Might Be Worth a Punt

6 benefits of joining a cooperative society in Nigeria today

POCO Set to Shake Up Nigeria’s Smartphone Market with Two Exciting New Launches

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Email Copy Link Print
Previous Article Sam Altman’s Worldcoin Has Surged 40% Since OpenAI Launched Sora
Next Article Tinubu’s presidential villa, 85 other MDAs owe AEDC N47,195bn
Leave a comment

Click here to cancel reply.

Please Login to Comment.

Follow US

Find US on Socials
Facebook Like
Instagram Follow

Subscribe to our newslettern

Get Newest Articles Instantly!

    - Advertisement -
    Ad image
    Popular News
    El Salvador’s Bitcoin Bet Swells to $644M as Rally Boosts Sovereign Holdings
    Your Ultimate Guide to Earning Cryptocurrencies!
    Welcome to XANIPAY Self-Hosted Crypto Wallet: Your Key to Secure and Private Digital Asset Management!

    Follow Us on Socials

    We use social media to react to breaking news, update supporters and share information

    Facebook Instagram
    xanifinance.com

    We influence 20 million users and is the number one business blockchain and crypto news network on the planet.

    Subscribe to our newsletter

    You can be the first to find out the latest news and tips about trading, markets...

      Ad image
      xanifinance.comxanifinance.com
      © XaniFinance News Network. Xani Digital.All Rights Reserved.
      Join Us!

      Subscribe to our newsletter and never miss our latest news, podcasts etc..

        Zero spam, Unsubscribe at any time.
        Welcome Back!

        Sign in to your account

        Register Lost your password?