(2 minutes read)
Many food -based industries in Africa are deeply affected by shortages of raw materials. The bakery food-based sector in Nigeria is one among them. Many have shut their doors, unable to afford the exorbitant price of flour
Many food-based industries in Africa are deeply affected by shortages of raw materials. The bakery sector in Nigeria is one among them. Many have shut their doors, unable to afford the exorbitant price of flour. Before the start of the conflict in Ukraine, flour was going for around N15,000 (US$33) but today is at N31,000 (US$68) registering an increase of about 136%. This is usually unstable for any business to survive.
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The bakery industry representatives in Nigeria say the solution lies in more investment in agriculture and jobs. The government, they insist, should follow a proactive policy in agriculture, such as investing in silos so that grains do not get affected while in storage, investing in cold chains so that the food grains are moved securely while in transit, and better remunerative prices to farmers to incentivize them to produce more.
