AMBCON, has said that the prices of bread, biscuits and other related commodities would be increased by 15 percent with effect from October 17. The association, in a communique after a meeting of the South-South and South-East geo-political zones held in Asaba, Delta State, blamed the development on the high cost of production.
Decrying that Nigeria’s economic recession was taking a
more dangerous twist, the association in the communique co-signed by chairman of the Joint Zonal Counci, Sir Hilary Eze, Secretary, Elder Akpan Jude and 12 others from the zones, which include Enugu, Anambra, Edo, Ebonyi, Cross River, Delta and Akwa-Ibom States, said “The adjustment of price is as a result of the sudden increase in the prices of sugar from N7,000 to N19,000, butter from N4,200 to N12,000, yeast from N10,500 to N17,000 and flour from N9,700 to N12,000.”
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