Business

BREAD: Real Reasons More Bakeries Are Shutting Down

Published

2 years ago

November 13, 2023

Sahara Weekly

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.

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.”

Related Topics:bakeriies BREAD Featured Lifestyle

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Business

ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

Published

4 days ago

April 25, 2026

Sahara Weekly

ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom”

The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.

The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.

ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.

Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.

By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.

The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.

As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.

Business

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status

Published

5 days ago

April 24, 2026

Sahara Weekly

***PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status**

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

Thank you.

Business

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Published

5 days ago

April 24, 2026

Sahara Weekly

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

Speaking on the collaboration, the Laffmattazz team stated:

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

⸻

About Laffmattazz

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

About First Bank of Nigeria Limited

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.