No doubt, the year 2023 affected Nigerian entrepreneurs in maintaining high standards in their business undertakings due to the economic challenges. One of the sectors hugely affected was the baking industry.
There has been enormous increase in the cost of baking materials in the country and this leaves bakers, pastries makers at the receiving end. The cost of sugar, flour, egg and other numerous materials needed in the making of cakes, pastries and confectionaries rose astronomically during the year 2024.
Bemoaning the rising cost of baking materials and its effect on the industry, a notable Cakepreneur, Becca Opeoluwa of Reevahcakes also known as Becca The Baker, stated that the cake industry has a lot to offer and could be the silver bullet for the empowerment of young Nigerians. She further noted that the baking industry, in which she is a major player, has enormous potentials and only requires the intervention of the Government by provision of enabling environment to make it flourish.
She decried the devastating effect of the continuous rise cost of baking materials and urged the Government to intervene in the sector, put in place necessary incentives and harness the obvious potentials of the industry.
This increase in cost of materials has particularly affected the prices of cakes and pastries and customers now complain about change in prices thereby leading to low patronage.
Becca Opeoluwa, who is an Abuja based Cakepreneur and Pastries Maker expressed hope that in the year 2024 the government would introduce measures and policies to ensure reduction in the cost of baking materials to enable the sector make its contributions in the resurgence of the Nigerian economy.