Money Radio: EP 44 – Tackling the looming scarcity of bread following rise in wheat price due to Russia war

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Nigerians are about to face more hardship as the price hike of bread looms following rising in the price of wheat caused by the war in Ukraine.  

LEADERSHIP reports that the price of wheat has increased by as much as 68.5% in the last 12 days from $752 per bushel on February 22 to $1,267 as of March 4, 2022.  

Nigeria has depended on the importation of wheat from Russia and other places as local production is just about 2% of what the nation’s wheat needs.  

On the program today we shall look at what Nigeria must do to address the situation, especially investing in local production.