Business Hilights

Tracking Nigeria's Headline Business News Online

Chris Ngige

Recession may close bakeries, push millions to labour market if…

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If efforts of the government in fighting recession and providing facilities that will aid the ease of doing business in Nigeria fail to show up in time, indications are rife that about five million Nigerians working in bakeries across the country may lose their jobs as the companies are planning to park up.

The Association of Master Bakers and Caterers of Nigeria (AMCON) said members have resolved to lay off no fewer than 10 workers per bakery unless the government meets their demands.

National Publicity Secretary, Mr. Jude Okafor said at a forum in Asaba, the Delta State capital that the astronomical increase in the cost of flour, sugar, yeast and other materials is forcing members to close shops and the move will only result to laying off workers to stay in business.

He explained that bag of flour which before now costs N5,800 has shot up to N12,000 while sugar is now N22,000 instead of the erstwhile price of N7,000 and yeast presently goes for N18,000 as against N5,500 and vegetable oil is now N18,000 as against N5,000.

He said “The 450, 000 strong members have resolved to lay off workers at the rate of ten staff per bakery for some small bakeries, thirty staff for medium scale bakeries and fifty workers per bakery for large scale bakeries.’’


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