55% of Bakeries in Katsina Shut Down Due to Economic Challenges
- Katsina City News
- 14 Jul, 2024
- 434
By Zaharaddeen Ishaq Abubakar, Katsina Times
Over half of the bakeries in Katsina State have shut down due to economic challenges, according to Alhaji Abdulkadir Abdullahi, Managing Director of Alliance Bread. He reported that out of 100%, 55% of bakeries have closed, 25% are operating at a loss, and only 20% are breaking even.
In an interview with Katsina Times on Sunday 14th 2024 at his office on Yahya Madaki way, Katsina, Alhaji Abdulkadir explained that the rising prices of essential commodities and the depreciation of the naira have placed industries in a difficult situation.
"The perplexing issue is the increasing cost of imported goods despite the naira's depreciation," he said. He added that none of the materials used in baking bread are produced in Nigeria, "we even import yeast from China."
Alhaji Abdulkadir highlighted that the closure of bakeries in Katsina State has led to a 55% increase in unemployment. He noted, "Northern states and Nigeria as a whole are facing this issue, with no region spared. This indicates the collapse of industries and the rising unemployment among youth."
He urged the Federal Government and the Katsina State Government to help reduce the cost of bread, which has become a staple for the poor. He also expressed gratitude to the state government for its support to small businesses and called for a significant portion of relief funds to be allocated to the bakery industry.
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