- Over 40 bakeries have joined the long lists of businesses shutting down in Nigeria following unfavourable business environment
- Reports say the affected bakeries are all in the Federal Capital Territory, Abuja as the bakers association blame government agencies
- They say multiple taxations, high cost of electricity tariffs and some federal government agencies contributed to the shutdown of the businesses
The rising cost of doing business and inflation has dealt a blow to bakery owners in Abuja, Nigeria’s Federal Capital Territory.
BusinessDay report said that not less than 40 bakeries have shut down in the FCT due to the high cost of production, multiple taxations and increase in electricity tariffs.
According to BusinessDay, the chairman of Abuja Master Bakers, FCT, Ishaq Abdulraheem stated that it was becoming unbearable and problematic that bakeries in Abuja could no longer continue to cope with the high cost of production, saying that the association’s members have lost their means of livelihood, while others have lost their jobs.
NAFDAC, NSEREA to blame
Abdulraheem asked the Nigerian government to immediately moderate and check the activities of agencies of government stalling bakery business in the country.
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He mentioned the agencies including the National Food Drug Administration and Control (NAFDAC), the Standards Organisation of Nigeria (SON), National Environmental Standards and Regulations Enforcement Agency (NESEREA).
He blamed the six area councils in Abuja for making business undesirable and difficult for bakery owners by demanding huge taxes and tenement rates.
He said that the six area councils in the FCT have also made business unpleasant and difficult for bakeries with huge taxes and tenement rates.
Wheat crisis: Man finds bread sold in the UK for N900 going for N7,500 in Nigeria
Legit.ng reported that a Nigerian man has raised an alarm on social media after he discovered that a bread that sells for 1.7 pounds, about N900 in the United Kingdom is selling for a whooping N7, 500 in Nigeria.
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The man with the Twitter handle @McCartney000 said factoring in the cost of importation, the price of the bread should not exceed N900 in Nigeria and blamed price racketeering for the cut-throat price.
Many Nigerians wondered why the bread is selling for such a huge amount and wondered if there is a price control agency in Nigeria.