Atiku: 40% of Breadmakers’ Association Members Lost Amid Rising Costs under Tinubu
- Atiku Abubakar condemned the economic conditions that he said have driven the Premium Breadmakers Association of Nigeria to lose nearly 40% of its membership
- The ADC presidential candidate spoke from Bauchi, where he continued his affordable life campaign tour across the country
- Cooking gas prices, diesel costs, and interest rates as high as 34% are among the pressures bakers say are forcing them to close
PAY ATTENTION: Mark Legit.ng as a preferred source, and our content will appear higher in your Google feed!
Bauchi - Former Vice President Atiku Abubakar has attacked the Tinubu administration over what he described as the near-collapse of Nigeria's baking industry, saying the Premium Breadmakers Association of Nigeria has lost close to 40 per cent of its membership in just two years.
Atiku's remarks came through a statement released in Bauchi on November 14, 2026, by Phrank Shaibu, his Director of Strategic Communication with the ADC Presidential Campaign Council and Senior Special Assistant on Public Communication. Legit.ng gathers that Atiku was in Bauchi as part of his ongoing affordable life campaign, where he said he had come to stand with Nigerians bearing the weight of government policy.
Source: Facebook
Bakers Crushed by Energy and Financing Costs - Atiku
According to the statement, energy costs alone account for roughly half of what most bakeries spend on production. One operator saw their monthly diesel bill jump from ₦9 million to ₦19 million. Switching to alternative energy sources is estimated to cost a small bakery between ₦40 million and ₦50 million, an amount most cannot access, particularly when commercial lenders are quoting interest rates as high as 34 per cent.
The strain extends to consumers as well. Cooking gas now sells for about ₦1,800 per kilogram in Abuja and around ₦1,650 in parts of Lagos and Ogun, the statement said, adding that depot prices reportedly climbed 31.8 per cent within a single month, rising from ₦1,100 to ₦1,450 per kilogram. As bakeries close and production shrinks, bread prices have risen sharply, squeezing families who rely on it as a daily staple.
Atiku's Verdict on Tinubu's Economic Reforms
Atiku was blunt in his assessment of the government's record, saying in the statement:
"From farmers to manufacturers and now bakers, the verdict on Tinubu's economic reforms cannot be clearer: they have been a monumental failure. The irony is that while the economy is falling under Bola Tinubu's watch, his government has accumulated local and foreign loans in astronomical figures. If local businesses are dying while the government continues to borrow, Nigerians are entitled to ask where these loans are going."
He also used the statement to preview his economic agenda, adding:
"The major policy plank of my administration will be to improve local production in every sphere of the economy, not just crude oil refining. To farmers, manufacturers, bakers and everyone involved in local production: the Atiku Economic Recovery Plan understands your pains, and your concerns are captured in my policy objectives."
Atiku called on the federal government to tackle energy costs and the lack of affordable credit as a matter of urgency, warning that continued inaction would cost more jobs and push everyday food costs further beyond the reach of ordinary Nigerians.
Atiku Rejects Tinubu’s $500m World Bank Loan Plan
Earlier, Legit.ng reported that Atiku spoke out against President Tinubu's move to obtain a $500 million loan from the World Bank.
The former vice president said the outgoing administration has no business saddling Nigeria with new debt on its way out of office.
Source: Legit.ng
