A deal to allow Ukraine to resume exports of grain has been signed in Istanbul, Turkey,.
Th deal, according to the BBC, will come as good news to millions in Nigeria – just a day after bread disappeared from the shelves as the country’s bakers’ association began a four-day strike to protest at high production costs.
Nigeria is the fourth largest importer of wheat in the world, spending more than $2bn in 2020 to buy the grains.
While most of its supply came from Russia, the spike in global wheat prices led to a rise in prices of items such as pasta, noodles and bread, some by 50%.
Though it will not automatically lead to a cessation of the four-day strike by the bakers’ association – as there is still the matter of a 15% levy on wheat imports they want the government to remove, among other things – people can expect some price stability for staple food, amid high inflation.
Source: BBC
