Business

Bakers Halt Bread Production Thursday Over Skyrocketing Costs

Published

3 years ago

July 21, 2022

Bakers under the aegis of the Premium Breadmakers Association of Nigeria have announced plans to halt production of their products, effective Thursday.

According to a statement signed by the President of the association, Emmanuel Onuorah, operating a bakery in Nigeria has become almost impossible as the incessant increases in the prices of baking materials and diesel have affected the industry negatively.

Onuorah said bakeries were running in losses and the situation was no longer sustainable.

According to him, bread is a staple food and one of the cheapest ‘grab and go’ food that is available for both the poor and the rich.

“It, therefore, behoves the Federal Government to be mindful of this and ensure the survival and sustainability of the industry,” he said.

The statement read in part, “In a move to ensure the survival of the premium bread-making industry in Nigeria, we have decided to embark on a withdrawal of services beginning from Thursday 21st of July, 2022 for four days in the first instance and where there is no intervention from the government, we shall escalate the duration of the withdrawal.”

“The reasons for the withdrawal of services included an incessant increase in the price of baking materials, Federal Government’s 15 per cent wheat development levy on wheat import, NAFDAC’s N154,000 penalty charged for late renewal of certificates, the inability of its members to access grants and soft loans being given by the Central Bank of Nigeria to Micro, Small and Medium-Scale Enterprises and multi-agencies regulation of the bread-making industry.”

The statement further read, “Our efforts to ensure the survival of the industry led to a series of meetings with the Federal Ministry of Industry, Trade and Investment, Abuja with our sister association in the bread-making industry in 2021. Our best attempts through the suggestions we put forward for the survival of the bread-making industry have not yielded the desired result.

“Therefore, the withdrawal of service is the only way we believe we can use to get to Federal Government and Nigerians and let them know our plight and how difficult it has been with the bread-making industry in Nigeria.”

Last month, the Association of Master Bakers and Caterers of Nigeria via a communique issued, and signed by the association’s executives, led by Mansur Umar, had declared that it would embark on two-week strike action in response to skyrocketing prices of baking materials.

An economic expert and associate professor of Economics at the Pan-Atlantic University, Lagos, Olalekan Aworinde, believes the Nigerian government has become lethargic towards addressing certain critical issues plaguing the economy. This, he said, had made strike action the last resort for interest groups who desire to be heard.

Aworinde said, “If they shut down, it tells us that the poverty rate in Nigeria will continue to increase because bread is one of the common foods that individuals eat every day. Hardly will you see any household that doesn’t eat bread.

“That tells us that it will be difficult for people to put food on their table when bread is not available. It also tells us that the price of bread is also likely going to increase because their going on strike is to show that there is a possibility of also increasing the price of their product.

“Aside from that, there are also the workers. There are workers that work in these bakeries and are paid daily. That tells you that the level of unemployment is likely going to be on the increase and that we are likely going to have some social ills in the country. We are likely going to see an increase in armed robbery because when people are not gainfully employed, the tendency is that they will turn to armed robbery.”

A consumer, Chinedu Michael, who spoke with The PUNCH on the possible impact of the strike said while the need to adjust to other possibilities would be inevitable, the absence of bread on the shelves would impact negatively on personal finance.

He said, “Most people eat bread. There’s almost no alternative to bread. So obviously it will require a big adjustment to survive without it.”

The Executive Secretary, Flour Mill Association of Nigeria, Yunus Olalekan, did not respond to calls as of the time of filing this report.

PUNCH

Business

‘We Like Greek Gifts,’ Nigerians Blast NUPENG Over Dangote’s Fuel Price Reduction

Published

2 days ago

September 13, 2025

Editor

The decision of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to warn Nigerians against accepting Dangote Refinery’s recent fuel price reduction has drawn heavy backlash on social media, with many citizens mocking the union and embracing what they described as “much-needed relief.”

Dangote had announced lower petrol pump prices in several states alongside a new scheme to deploy compressed natural gas (CNG) trucks directly to filling stations, a move expected to reduce logistics costs.

But NUPENG dismissed the offer as a “Greek gift,” alleging that the refinery was undermining workers’ rights, sidelining the union, and pushing drivers into a rival association.

However, netizens have lambasted the union, querying that during hard times, NUPENG has never supported the masses.

On X (formerly Twitter), Nigerians quickly turned NUPENG’s warning into a trending topic, using humour and sarcasm to lampoon the union.

Oloye Somorin Osifeso (@OloyeSomorin) wrote: “We like Greek gifts in my garage.”

Just Jude (@JustJude) asked bluntly: “Is it your deception?”

Oladele (@Oladele) quipped: “As Dangote Refinery dey offer Nigerians Greek gift, why can’t NUPENG too offer Nigerians French gift?”

Agbalaka (@Agbalaka) queried: “Can they tell Nigerians what exactly they are fighting about?”

CBN Gov Akinsola (@Akinsola) joked: “Then give us Trojan gift now 😆. Man do man. Man no go vex.”

Omobalaji (@Omobalaji) teased: “NUPENG, oya surprise us with Arabian gifts.”

Habdulakeem Bahdmus (@BahdmusHabdulakeem) added: “If Dangote is showering Nigerians with Greek gift, NUPENG can also set up a Roman gift now.”

Femi Yekinni (@FemiYekinni) steered it back to reality: “We thank them for their advice. Now, @DangoteGroup pls how do we schedule deliveries to Badagry?”

Curtis Abbi (@CurtisAbbi) slammed the union: “Nigerians will manage the Greek gift. @officialNUPENG9, what gift have you given Nigerians in your entire years of existence? NUPENG should offer Nigerians their own Somalian gift 🤣.”

Akin Adejola (@AkinAdejola) echoed the sentiment: “LOL. I can bet Nigerians don’t mind the gift. NUPENG should gift Nigerians same ‘Greek gift’ too if they have any goodwill. NUPENG is the enemy of progress in the oil & gas sector.”

Adeola Akinwande (@adeolarewaju9) criticised union leaders: “Does NUPENG remember Nigerians at hard times? They have all failed Nigerians the same way the @NLCHeadquarters has failed. They are living big on unionism and cashing out big time. Without unionism, some of their excos are nobody. They should stop the crocodile tears.”

Okunwa U. U. Azikiwe (@OkunwaUUazikiwe) argued: “Competition has created jealousy by the previous monopoly in the sale of fuel. They have lost control, and it is paining them that they are no longer in control. SMH!!!”

Solihull Abdulkareem (@SolihullAbdul) chipped in: “NUPENG or whatever, do you want the market to be monopoly? You’ve been doing what you want for many years. It’s time for change, just accept it and move forward.”

Temidayo (@Temidayo) asked: “It’s a lie. What benefits has your union provided for Nigerians? Middlemen syndrome has been room for corruption. Your association should go and buy shares in Dangote and work together to make Nigeria great.”

And LegalTech Sam Akanbi (@SamAkanbi) summed up: “Nigerians no longer want your Nigerian gift, we want the Greek gift. If you have a better offer, we’d abandon Dangote’s Greek gift and take yours. But for now, let the Greek gift go round.”

Recall that NUPENG earlier alleged that Dangote Refinery was forcing truck drivers to abandon its union for a rival group, the Direct Trucking Company Drivers Association (DTCDA).

The union also accused Dangote of undermining collective bargaining rights and violating a Memorandum of Understanding (MoU) signed under government supervision.

Dangote, however, denies the claims, insisting that union membership remains voluntary and that its delivery scheme is designed to cut costs and ease supply.

The federal government has intervened, with the Ministry of Labour and the Department of State Services mediating between both parties.

Business

Dangote Refinery Reduces Fuel Price Nationwide, Provides Update On Petrol Distribution

Published

2 days ago

September 12, 2025

Editor

Dangote Refinery has reduced its premium motor spirit retail price nationwide.

This is as it announced Monday, September 15, 2025, as the new date to begin the direct petrol distribution initiative.

The initiative, which Dangote Group had earlier announced would kick off on August 15, 2025, would see the $20 billion plant distribute petrol and diesel to consumers with its 4,000 compressed natural gas trucks at zero logistics cost.

The 650,000-barrel-per-day refinery said its new gantry price is N820 per litre, the same price announced last month.

Business

FG Gives Criteria For Opening Bank Accounts

Published

2 days ago

September 12, 2025

Editor

From January 1, 2026, all Nigerians and non-residents will be required to obtain a Tax Identification Number, Tax ID, to open or operate bank accounts.

The development followed the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu.

Section 8(2) of the Act makes the Tax ID compulsory for banking, insurance, stock broking, and other financial services. It also extends the requirement to contracts with federal and state governments.

For non-residents, Section 6(1) mandates registration for tax purposes, requiring them to obtain a Tax ID if they supply taxable goods and services or derive income from Nigeria.

To enforce compliance, Section 7(3) empowers tax authorities to assign a Tax ID to individuals or entities who fail to register. The Act also allows for suspension or deregistration of a Tax ID if a business ceases operations temporarily or permanently, provided tax authorities are notified within 30 days.

The legislation is aimed at expanding Nigeria’s tax net and boosting revenue collection. Analysts say the policy could significantly improve tax compliance rates nationwide.

Financial institutions are expected to adjust their systems and processes ahead of the January 2026 rollout.