Staple food, Bread is becoming scarce in many households as the cost of flour and other ingredients continues to rise, leading to the closure of several bakeries.

The increase in prices is attributed to the ripple effects of the Russian-Ukraine war, resulting in a global shortage of flour.

According to interviews conducted by Vanguard, several local bakeries have closed down business due to the economic challenges faced by owners.

Mr. Abayomi Olorunfemi, a baker, expressed the struggles within the industry, stating, “This country’s economy is really dealing with businesses. It has turned smart businessmen into people who aren’t smart anymore. Many of my colleagues in the business are shutting down. Those who have three to four bakeries now have two.”

The rising costs are forcing bakery owners to make difficult decisions, including reducing the sizes and increasing the prices of bread.

Mr. Olorunfemi added, “Some are now reducing the size of their bread and increasing the prices. This year, bakers have increased the prices of bread over three times. It is very traumatic because customers no longer patronize bread due to the increased prices and small quantity and lessened quality.”

Mrs. Are Toluwalase, a businesswoman, shared her experience, saying, “I stopped buying bread when the price of a family-size bread was increased to N1,200 from N1,100 two months ago. The quantity is nothing to write home about. With two cuttings, a family-size bread is finished.” Families are now exploring alternative breakfast options to cut costs.

Bakery owners are struggling with the high cost of maintenance, increased prices of flour, and other ingredients.

Mr. Aderotimi Samuel, a bakery owner, revealed, “The cost of maintenance coupled with the increased prices of flour and other ingredients is disrupting the business. I just shut down one a few weeks back to be able to run the other. Many of my colleagues are doing the same to keep being in business.”

The situation is affecting both bakery owners and consumers, with employees facing layoffs and consumers opting for cheaper alternatives.

Mrs. Janet Omoh, a flour and baking ingredients seller, highlighted the continuous rise in the cost of flour and other ingredients, stating, “The cost of flour is increasing daily just like every other thing in the country.”