Business

Group Pulls Out Of Bakers’ Strike

Published

4 years ago

July 21, 2022

Amidst the strike by the Premium Breadmakers Association of Nigeria over rising production costs of bread, the Supreme Bakers and Confectioners Association on Thursday said they would not partake in the action in the national interest.

The PBAN had in a statement by its President, Emmanuel Onuorah, announced plans to halt production with effect from Thursday.

According to him, bakery 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.

But while acknowledging that the nation’s economy, just as those of other countries globally, was currently experiencing a slump, the SBCA said the development demanded belt-tightening for both corporate and private individuals.

The President of SBCA, Edmond Egbuji, said these in a statement titled, ‘Our stand On the bakery debacle in Nigeria’, obtained by The PUNCH in Abuja.

He said, “We the Supreme Bakers and Confectioners Association wish to make our position clear on the current state of affairs in the bakery industry in Nigeria.

“The nation’s economy, just as those of other countries globally, is currently experiencing a slump.
This calls for belt-tightening for both corporate and private individuals.

“It would be recalled that some bakers associations on July 13, 2022, embarked on two weeks warning strike claiming it was due to a hike in the prices of baking materials.

Assembly, decries harsh policies
“According to the statement, the group will embark on the strike if the Federal Government does not give the necessary attention to their demands.

“Baking of bread and other confectioneries like other private businesses are facing the same global economic challenges that are not necessarily peculiar to Nigeria.

“We are working together with the Federal Government and some of the manufacturers and importers of baking materials to see how to cushion the effects on our members and the public.

“Bread is one of the common foods for the common man so to forcefully withdraw it from him will be disastrous.

“We, therefore, recognise that taking up a confrontational stance against the industry’s regulatory bodies or the federal government is not the way to go about it at the moment.

“We would rather continue to engage them in dialogue to fashion out a workable solution that would bring succour to the millions of Nigerians that are going through hard times.

“Our resolve is not to worsen the plight of ordinary Nigerians by denying them access to bread, which is currently one of their staple foods.

“Our intention is not to embark on strike action but rather to sit at a roundtable and come to grips with how to ameliorate the present difficulty confronting us.

“It is the intention of Supreme Bakers and Confectioners Association to join hands with the government to achieve this. Nigerians deserve to have their burdens made lighter, not worse.”

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

1 day ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

3 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

6 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.