Business
Bakers Halt Bread Production Thursday Over Skyrocketing Costs
Published
3 years agoon
By
Editor
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.
READ ALSO: Bread Producers Threaten Strike Over Bakery Materials’ Price Hike
“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.
READ ALSO: Hunger Looms As Bakers Set To Shut Down Industry Nationwide
“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
You may like
Bread Scarcity Looms As Master Bakers Begin Nationwide Strike
-
Nigerian Correctional Service Begins Commercial Bread Production In Benin
-
Bakers, Millers Disagree Over Flour Price Hike
-
Man Accused Of Killing His Wife Over Bread Reacts To Allegations
-
Group Pulls Out Of Bakers’ Strike
-
Hunger Looms As Bakers Set To Shut Down Industry Nationwide
Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
1 week agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.
Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
2 weeks agoon
August 11, 2025By
Editor
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
READ ALSO:‘My Eyes Dey Your Body’: Drama As Portable Professes Love For Regina Daniels
The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
READ ALSO:
Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
- NDLEA Arrests Widow Using Fake Pregnancy To Traffic Cocaine
- Why Nigeria Needs Female President – Presidential Aspirant
- How Cartels Plant Drugs In Travelers’ Bags — NDLEA
- Primate Ayodele Releases Fresh Prophecies On FIRS, FAAN, Others
- DSS Issues Warning, Arrests Man For Circulating Fake Recruitment Materials
- ‘Na Only People You Gave Work Love You,’ Singer Speed Darlington Tells Tinubu
- 2027: You Will Lose 80% Of Northern Muslim Votes If…, APC Forum Warns Tinubu
- Trump Considering Deporting Kilmar Abrego Garcia To Uganda
- Before You Leave Office, Reform The Police — Speed Darlington Urges Tinubu
- SERAP Rejects Proposed Salary Hike For President, Govs, Lawmakers
Trending
- News5 days ago
Edo Issues New Guideline On Education, Says Siblings’ Textbooks Transferable, Bans Graduation For KGs, Others, [A MUST READ]
- Headline4 days ago
UK Bans Sanex Advert For Calling Black Skin ‘Problematic’, White Skin ‘Superior’
- News4 days ago
Nigerians Call For Mandatory DNA Tests At Birth
- News4 days ago
Yoruba Elders Wade In As Alaafin, Ooni Feud Escalates
- Headline4 days ago
Why I Plotted President Trump’s Assassination – 50-yr-old Woman
- Headline3 days ago
JUST IN: Uganda Reaches Agreement With US To Take Migrants
- Headline4 days ago
Viral TV Judge Frank Caprio Is Dead
- News2 days ago
BREAKING: FG, State, Local Governments Share N2.001trn July Revenue
- Metro3 days ago
Customs Seize N905m Rolls Royce, Other Contrabands In Ogun
- Headline4 days ago
Trump Slams US Museums For Focus On ‘How Bad Slavery Was’
