Did you know wheat is Nigeria's third most widely consumed grain after maize and rice? Despite this, Nigeria produces a mere 2% of the wheat it consumes. With a production of just 60 tons compared to a consumption of over 5 million tons, Nigeria has become the world's second-largest importer of wheat, spending ₦331.76 billion in Q3 2023 alone.

The impact of these imports is felt in the rising cost of bread, which saw over 50% increase year-on-year, reaching average of ₦ 1500 per loaf in May 2024.

Find out more about the impact of wheat on Nigeria's economy in this report