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Hunger Looms As Bakers Set To Shut Down Industry Nationwide

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The Association of Master Bakers and Caterers of Nigeria (AMBCN) South-East chapter, has said it is set to withdraw its services from July 13, as directed by its national body.

The Zonal Chairman of the association, Chief Dominic Nwibe made this known in an interview with NAN on Wednesday in Abakaliki, the Ebonyi State capital.

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Recall that the National President of AMBCN, Malam Mansur Umar had also said members would begin a two-week strike from July 13, citing an increase in prices of bakery materials.

Following the directive, Chief Dominic said, “We had a zonal meeting in Abakaliki and decided to follow the directive which is supposed to last for two weeks.

READ ALSO:Bread Producers Threaten Strike Over Bakery Materials’ Price Hike

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“A bag of baking flour which hitherto cost N25,000 presently cost N28,000 and it is worrisome that it will keep increasing.

“A bag of sugar which hitherto cost N9,000 presently cost N30,000 while 20 litres of groundnut oil costs about N20,000″.

According to him, the members felt it was unnecessary to keep increasing the prices of bakery products such as bread to the detriment of customers.

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“The customers would feel that we are greedy and we want to let the federal government know that the situation has become unbearable.

“We are asking for the liberalisation of the sugar importation process to break the monopoly by two or three firms.

“These firms import sugar and control its price mechanisms as the withdrawal of services will make our customers know we are telling the truth on reasons for price increases,” he added.

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The zonal chairman regretted that the authorities blamed the high cost of materials on the economic effects of the invasion of Ukraine by Russia.

“We don’t see any justification to this assertion as flour for instance, can be sourced from nearby countries,” he said.

Also speaking, the south east Zonal Secretary of the association, Mr Okey Ezeanata said that “bakers have been seriously affected by the development as most of them have closed shops”.

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“The market forces have been unfair to us and as the time we increased prices of products in April till present, there have been several changes.

“We urge the federal government to allow mass participation in our materials’ importation process just like in the telecommunication sector,” he said.

READ ALSO: Lagos Bread Seller, Others Wins N1m In ALAT’s 5for5 Promo

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NAN reports that the association alleged that the National Wheat Cultivation Committee already constituted is yet to be inaugurated after over one year.

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NNPCL Increases Fuel Price

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The Nigerian National Petroleum Company Limited, NNPCL, has increased the pump price of premium motor spirit across its retail outlets.

It was gathered that NNPCL retail outlets in Abuja have adjusted their fuel pump price to N955 per litre from N890.

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This is the case in NNPCL retail outlets along Kubwa Expressway, Wuse and other parts of Abuja.

READ ALSO:Fuel Station Manager, Three Others Arrested For Robbery

Similarly, the pump price hike has been implemented at filling stations in Kogi and Nasarawa.

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This means that the petrol pump price was increased by N65.

This comes after independent petroleum product marketers and filling station owners in Abuja increased petrol pump prices to between N950 and N971 per litre at the weekend. Their decision followed an upward review of the ex-depot petrol price by Dangote Refinery to N858 per litre, up from N820.

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Naira Appreciates Against Dollar As External Reserves Swell

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The naira appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a bullish note amid swelling external reserves.

According to the Central Bank of Nigeria’s exchange data, the naira appreciated to N1,531.95 against the dollar on Monday from N1,533.74 traded last week Friday.

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READ ALSO:Naira Continues To Appreciate Against Dollar On Official Market

This showed that the Naira strengthened by N1.79 when compared to the N1,533.74 exchanged at the close of work last week.

Meanwhile, at the black market, the naira remained stable at N1560 per litre, the same exchange rate traded on Friday.

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The development comes as Nigeria’s external reserves had maintained a modest rise to $39.54 billion as of August 1st, 2025, up from $39.36 billion on July 30th.

 

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Naira Continues To Appreciate Against Dollar On Official Market

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The naira continued its appreciation against the dollar at the foreign exchange market on Tuesday.

Accordingly, the naira strengthened further to N1,533.18 against the dollar on Tuesday, from N1,534.21 traded the previous day.

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This represents a gain of N1.03 against the dollar on a day-to-day basis and marks the second consecutive day of appreciation at the official FX market.

READ ALSO:Woman Arrested For Killing, Selling Pregnant Nurse’s Body Parts

Meanwhile, on the black market, the naira depreciated further to N1,545 per dollar on Tuesday from N1,537 traded on Monday.

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Recall that the naira had similarly closed Monday’s trading session with mixed sentiments, recording gains at the official market but depreciating at the parallel market.

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