‘40% of Bakeries Shut over High Energy Cost, Others’

40% of premium bread bakers shut down in 2yrs

By Yinka Kolawole At the backdrop of difficulties in the economic environment, about 40 percent of bread-makers operating in the premium category, have shut their factories in the past three years. This was revealed by the Premium Breadmakers Association of Nigeria (PBAN) attributing the situation to rising energy costs, poor access to affordable financing and […]

‘40% of bakeries shut over high energy cost, others’

Breadmakers have lamented the high cost of borrowing and rising operating expenses, warning that the combination of expensive credit, energy costs and increasing prices of production inputs is threatening the survival of bakeries across the country. The President of the Premium Breadmakers Association of Nigeria (PBAN), Engineer Emmanuel Onuorah, said the industry had suffered significant losses in recent years, with about 40 per cent of the ass…

40% of breadmakers shut down in two years – PBAN

About 40% of Nigerian breadmakers have shut down in two years due to high energy costs and expensive loans, the Premium Breadmakers Association says. Read More: https://punchng.com/40-of-breadmakers-shut-down-in-two-years-pban/

Bakers Lament 34% Lending Rates, Rising Energy Costs

Bakers in Nigeria have lamented the high cost of borrowing and rising energy expenses, warning that the challenges are threatening the survival of businesses in the industry. The operators said commercial banks were still charging interest rates of between 33 and 34 per cent on loans to small businesses despite recent reductions in the Central […]