As Bakers Succumb to FX Volatility, Hike in Diesel Price


3a79f742 bakeries


The current crises in energy, and foreign exchange markets are threatening to push Nigerian bread makers, like some other members of the manufacturing community, out of business amidst the federal government’s assurance to halt the dangerous trend, writes Festus Akanbi

In a country where the safety of its major revenue earner (crude oil) is still a major issue, certainly, the current tale of woes from the camp of the Manufacturers Association of Nigeria, (MAN) in general, and one of its affiliate bodies, the Premium Breadmakers Association of Nigeria (PBAN), should be taken very seriously.

Clutching to the Last Straw

In an emotion-laden appeal last week, the breadmakers body sought immediate intervention from the federal government to stem the tide of closure of business by members of the association who, like other players in the nation’s economy, have been battling the twin problem of high volatility in the forex exchange…

Source: Thisday Newspaper