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BREAD: Real Reasons More Bakeries Are Shutting Down

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2 years ago

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BREAD: Real Reasons More Bakeries Are Shuting Down

BREAD: Real Reasons More Bakeries Are Shutting Down

 

 

 

Bread, a favorite Nigerian fathers’ welcome home gift for their children, is disappearing in homes.

 

Most households have now jettisoned the pastry from their diet lists, as the prices of flour and other ingredients for making bread have continued to increase, leaving bread prices on the high side.

 

 

BREAD: Real Reasons More Bakeries Are Shuting Down

 

The bakery owners are not left out of this dilemma, as they struggle between the increased prices of ingredients, and how to still be in the business to satisfy their customers.

To worsen the situation, many bakery owners are shutting down, due to their inability to meet up with increasing cost of ingredients.

Several increases have been done in the prices of bread since the Russian-Ukraine war, which has resulted in unavailability of enough flour all around the world.

Gone are the days when you will visit a baker and you go home with a loaf of bread. Now, even the workers in bakeries have to pay to have a loaf.

Speaking to Economy&Lifestyle, Mr. Abayomi Olorunfemi, a baker noted that apart from shutting down business, some bakery owners are reducing the sizes and increasing the prices of bread to make ends meet.

“This country’s economy is really dealing with businesses.

“It has turned smart business men into people who aren’t smart anymore.

“Many of my colleagues in the business are shutting down. Those who have three to four bakeries now have two.

 

“Some are now reducing the size of their bread and increasing the prices.

 

 

 

“This year, bakers have increased the prices of bread over three times.

“It is very traumatic because customers no longer patronize bread due to the increased prices and small quantity and lessened quality.”

Mrs. Are Toluwalase, a business woman, said she had to stop buying bread when the price of a family size bread was increased to N1,200 from N1,100.

“I stopped buying bread when the price of a family size bread was increased to N1,200 from N1,100 two months ago.

 

“The quantity is nothing to write home about. With two cuttings, a family size bread is finished.

“Before you get such bread for N500. I have a family of six.

“Having bread and tea as breakfast requires that I purchase three loaves of bread at N3,600 which was N1,500 then.

” We had to switch to oats, yam and egg and other light food for breakfast to cut costs.”

Mr. Aderotimi Samuel, a bakery owner, said he has two bakeries in Ikorodu but recently shut down one to be able to meet the cost of maintenance.

 

 

“I have two bakeries in Ikorodu which I have been running for over six years now.

“But the cost of maintenance coupled with the increased prices of flour and other ingredients is disrupting the business.

“I just shut down one few weeks back to be able to run the other.

“Even the wheat millers are complaining about the high cost of diesel and logistics which has also resulted in the increase in flour price.

“We also have people working for us. I had to lay off some staff and retain the hard working ones.

 

“Many of my colleagues are doing same to keep being in the business.

“It is not easy anymore. People are now going for cheap alternatives and abandoning bread.

“Those we are selling in retail prices to are also complaining of low patronage.

“Before we sell up to three bags of flour-made bread but now we hardly sell one and a half bags.

“God help us in this country.”

 

 

Mrs Janet Omoh, a flour and baking ingredients seller at Akpogbon said:” The cost of flour is increasing daily just like every other thing in the country.

“I am selling it to keep being in business as there are no high proceeds in this business that can even sustain you, not to talk of your family.

“Butter, yeast, baking pan is not left out.

“Before, a 50kg bag of flour was sold for N20,000.

Now the price is N38,000 to N40,000. imagine the wide margin.

 

 

 

“Then the price of 15kg margarine has risen to N45,000 from N28,000.

“Sugar, salt, yeast and other baking ingredients are not left out.”

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

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1 day ago

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April 7, 2026

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.

The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.

Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the  Bank’s commitment to supporting institutions that drive intellectual growth and national development.

As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.
The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.
Read more about Alpha Morgan Bank on www.alphamorganbank.com

 

 

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L-R: Prof. Shadrach Olufemi Akindele, Vice Chancellor, Redeemers University, Engr.  Eloka Eje, Dr Perez Araka, Pastor (Mrs) Folu Adeboye, Mother-In-Israel, The Redeemed Christian Church of God, Mr Ade Buraimo, MD/CEO Alpha Morgan Bank, Dr (Mrs) Oluwatomi Somefun, Dr. Simeon Ifere, at the inauguration of the Redeemer’s University Business School, Redemption City, Ogun State on Thursday 2nd April, 2026

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Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

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2 days ago

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April 7, 2026

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Otega Ogra: Online Misinformation Endangers Public Trust and Stability

Tinubu Aide Rebuts Rufai Oseni Over ₦3.3tn Power Debt Deal

The Presidency has strongly refuted allegations of “accounting fiction” and misinformation surrounding Nigeria’s ongoing power sector financial reforms.
O’tega Ogra, Senior Special Assistant to President Bola Ahmed Tinubu on Digital and New Media, took to social media to challenge comments made by Rufai Oseni, accusing the broadcaster of misrepresenting government efforts to resolve legacy debts in the electricity value chain.
At the heart of the dispute is the reconciliation of longstanding debts owed to Generation Companies (GenCos) and gas suppliers—an issue that has long constrained liquidity within Nigeria’s electricity market.
₦1.4 Trillion Reduction Explained
Responding to criticism over debt figures, Ogra clarified that total legacy obligations were reduced from ₦4.7 trillion in initial claims to a verified ₦3.3 trillion, representing a roughly 30% reduction.
“That is not spin. It is the difference between a claim and a verified obligation,” Ogra stated.
“In a regulated electricity market, submitted claims must be validated against contracts, market rules, and settlement records.”
Ogra also outlined tangible progress under the reform program, emphasizing that it has moved beyond “paper restructuring” to actual financial disbursements:
₦1.23 trillion structured under Phase I
₦501 billion already raised for the first series
₦223 billion disbursed to GenCos and gas suppliers
₦197 billion currently being processed
As of March 31, 2026, eight GenCos—covering 17 power plants—have signed settlement agreements totaling ₦2.28 trillion.
According to Ogra, the reform timeline, from President Tinubu’s July 2024 directive for a sector-wide review to Federal Executive Council approval in August 2025, demonstrates a deliberate push for transparency in a sector historically plagued by opacity.
“The real question is whether the final figure reflects verified contractual exposure. That is exactly what the review process was designed to achieve,” he said.
While defending the administration’s approach, Ogra acknowledged that clearing debts alone will not resolve Nigeria’s electricity challenges. He noted complementary reforms underway, including:
Tariff alignment based on service quality
Nationwide metering expansion
Improved payment discipline
Targeted subsidies for vulnerable citizens
In a pointed remark, he urged media commentators to distinguish between incomplete progress and misinformation:
“This is not the end of the problem, but it is a structured attempt to fix it.”
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Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

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5 days ago

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April 4, 2026

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Aare Adetola Emmanuelking Welcomes President Tinubu to Gateway International Airport Commissioning in Iperu-Remo

 

In a momentous occasion that underscores the rapid infrastructural advancement of Ogun State, renowned real estate mogul and philanthropist, Aare Adetola Emmanuelking, warmly received the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, at the official commissioning of the Gateway International Airport, located in Iperu-Remo.

The landmark event, held under the visionary leadership of the Ogun State Governor, Dapo Abiodun, marks a significant stride in the state’s economic transformation agenda, positioning Ogun as a key hub for aviation, commerce, and investment in Nigeria.

Aare Emmanuelking, who is also the Chairman/CEO of Adron Homes and Properties, commended the Ogun State Government for its foresight and commitment to infrastructural excellence. He described the airport project as a “game-changer” that will not only boost connectivity but also stimulate real estate growth, tourism, and industrial expansion across the region.

Speaking during the commissioning, President Tinubu lauded Governor Abiodun’s administration for delivering a world-class facility that aligns with the Federal Government’s Renewed Hope Agenda, emphasizing the importance of strategic infrastructure in driving national development.

The Gateway International Airport is expected to serve as a critical gateway for investors and travelers, further enhancing Ogun State’s reputation as one of Nigeria’s most business-friendly environments.

The presence of top dignitaries, industry leaders, and stakeholders at the event underscores the project’s significance and its anticipated impact on the state’s socio-economic landscape and beyond.

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