Lack of access to foreign exchange, hike in the price of baking items have continued to trigger the cost of bread in recent times.
Breadmakers, under the auspices of the Premium Breadmakers Association of Nigeria stated this in Lagos on Monday in Lagos during a courtesy visit to stakeholders in the baking industry.
It also identified limited prospects for ease of doing business as another key impediment for the confectionary sector in the country. According to him, the federal government through a deliberate policy should suspend levies placed on wheat and other baking products to encourage investors’ survival in the industry.Speaking at Lesaffre Africa BA Nigeria Distribution Ltd, Ajah, Lagos, Engr. Onuorah also bemoaned lack of foreign exchange on raw materials by Nigerian banks to manufacturers.
He emphasised that setting up the raw materials company would create job employment for many Nigerians and grow a better return on their investment.
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