The prices of biscuits, bread and other related commodities are set to be increased by 15 per cent.
The Association of Master Bakers and Caterers of Nigeria (AMBCON) said the increment will kick off with effect from 17th of this month.
The Association held a joint meeting of the South-South and South-East Geopolitical zones in Asaba, Delta State, and thereafter released a communique.
AMBCON, in the communique co-signed by chairman of the Joint Zonal Council, Sir Hilary Eze, Secretary, Elder Akpan Jude and 12 others from the zones including Enugu, Anambra, Edo, Ebonyi, Cross River, Delta and Akwa-Ibom States, blamed the development on the high cost of production.
The Association in the communique 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.”