Amidst the persistent surge in bread prices, residents of the Federal Capital Territory (FCT) are grappling to cope with the escalating cost of staple foods.
Residents, who shared their concerns with journalists in Abuja on Sunday, appealed for government intervention, highlighting the distressing reality that bread is gradually transitioning from a fundamental necessity to a luxury item.
According to the latest National Bureau of Statistics (NBS) Food Price Report for February 2024, the average price of a 500g sliced loaf surged by 89.48 percent on a year-on-year basis, soaring from N553.03 in February 2023 to N1,047.86 in February 2024. Moreover, the report indicated a month-on-month increase of 15.91 percent, with 500g sliced bread jumping from N904.02 in January 2024.
Sumaila Yusuf, a civil servant, lamented the growing challenge of purchasing bread due to these steep price hikes, underscoring the strain it places on household budgets.
“It has been tough buying and consuming bread these days.
“Bread is now treated on the list of special foods that we go for occasionally, and it is no longer a routine item that must be on the shelf at all times.
“Sometimes I ponder on why I should keep consuming bread with an almost daily increase in the price of loaves.
“I can recall that this time last year, I was buying Imperial Bread for N800 but it was sold for N1400 about a month ago when I last bought it.
“Also, Delight Bread’s small loaf was N600 but it is now N1, 200. I can go on and on. The government needs to intervene and help regulate the price,” he said.
Biodun Ajakaiye, a businesswoman, mentioned that the rise in bread prices has resulted in reduced consumption within her household.
READ ALSO: NDLEA Seizes 44,948kg Drugs, Arrests Eight Suspects During Raid in Lagos, Edo, Ondo
“I used to buy two family loaves for my family of six and we used to eat bread twice a week, but with the increase, we now eat bread once a month.
“The last bread I bought was N1,700. So two loaves for my family will be N3400. How can we spend that amount on only bread twice a week?
“We just had to advise ourselves and replace eating bread with Akamu and Akara,” she said.
Ella Anyanwu, a civil servant, noted that the surge in bread prices has impacted her family’s consumption habits.
Additionally, she remarked on the diminishing quantity and quality of certain bread varieties. Anyanwu urged the government to intervene in addressing these concerns.
“The price of bread increases geometrically, and the quality and quantity also reduce daily. Some are not properly baked due to the high cost of baking items hence they spoil easily.
“A loaf of bread that was being sold between N950 to N1,000 early this year increased to N1,300 then to N1,600 currently, making affordability very difficult because one needs to buy like three loaves to meet the needs of my family.
“If bread that is a common food for a common man can be so expensive, how can Nigerians survive in this harsh economic situation?
“Therefore, the government should endeavour to look into the cause of its increasing cost as well as other food items and intervene to cushion the effect,” she said.
Musa Ahmed, a trader, shared that despite the price hike, he continues to consume bread but opts for smaller sizes due to affordability concerns. Ahmed explained, “I used to purchase a N500 loaf, but it’s now N1,000. Consequently, I now purchase the N400 loaf, previously priced at N300, and manage accordingly.”
Meanwhile, Peace Samuel, a manager at a prominent bakery in Abuja, attributed the escalating bread costs to various factors, including the conflict in Ukraine, fluctuations in foreign exchange rates, and domestic inflation.
“Two to three months ago, our 900g family loaf was supplied to distributors at a rate of N930, while it was sold to final consumers at N1,100.
“But presently, the same loaf is supplied to distributors at N1,100 and sold to final consumers at N1,300.
“Similarly, the 1,200g Jumbo loaf that was sold to final consumers at N1,200 is now being sold for N1,600.”
Ms Samuel, however, said despite the drop in the dollar, the cost of raw materials such as flour and others used to make bread was still on the rise.
“As of March 22, the price of flour has witnessed another increase of between N1,500 to N2,000, depending on the brand.
“This continuous surge in prices has led to many bakeries shutting down.”
She also said that suppliers sometimes create artificial scarcity and increase prices, knowing that customers have no choice but to buy.
According to her, this is harming the bakery business, and many people are losing their jobs.
Ms Samuel recalled how the government’s intervention helped with the reduction in prices of flour when the Master Bakers Association went on a nationwide strike in February.
“When we went on the strike, the government intervened to an extent and the price of 50kg flour was reduced immediately from N55,000 to N50,000.
“However, the price has gone up again, ranging from N53,500 to N57,000, depending on the brand.
“The government needs to understand that the continuous rise in the cost of bread is creating a ripple effect that is affecting the entire economy, therefore, the government needs to intervene,” she said.
(NAN)
