Bread prices in Nigeria to drop as FG introduces varieties of wheat to bring down cost

There are indications that the prices of bread, cereals and pasta in Nigeria may soon come crashing down.

The reason for this is the Federal Government's introduction of high-yield wheat varieties to farmers, consequently leading to increased production.

It is believed that the new development, which will further improve wheat production, will also force bread prices to move downwards against the backdrop of heightened cost of living.

Wheat is one of the ten approved crop varieties authorized by the Federal Government to tackle food security, sustainability, and self-sufficiency concerns in the country.

FG releases four new wheat varieties

The government granted approval through the National Committee on Naming, Registration, and Release of Crop Varieties, Livestock Breeds, and Fisheries during its 32nd meeting on Thursday, June 22, 2023.

According to The Nation, the meeting occurred at the Conference Hall, National Centre for Genetic Resources and Biotechnology (NACGRAB), located in Moor Plantation, Ibadan, the capital of Oyo State.

Among the newly approved crops are four distinct types of wheat, four varieties of potatoes, and two synthetic maize varieties.

This approval resulted from a prior proposal made by the Technical Sub-Committee (TSC) during the 36th meeting of the National Committee on Naming, Registration, and Release of Crop Varieties, Livestock Breeds, and Fisheries.

The Lake Chad Research Institute in Maiduguri, Nigeria, along with the International Maize and Wheat Improvement Centre in Mexico and the Flour Milling Association of Nigeria, submitted the four newly approved wheat varieties.

These varieties consist of two bread wheat types, namely Borlaug100 and Neloki, and two durum-wheat varieties named Crino and Bayoreca.

During the event, Dr. Anthony Okere, the Registrar of NACGRAB, along with other participants, expressed unanimous agreement regarding the high-yield characteristics of the new wheat varieties.

They emphasized the potential of these varieties to effectively tackle the issue of wheat importation, which significantly contributes to the elevated prices of bread and pasta.

Importance of wheat in Nigeria

Significantly, wheat is the country's third most extensively consumed grain and ranks second-largest contributor to the nation's food import expenditure.

Wheat is a primary component in various food products, including bread, cereals, biscuits, pastries, and pasta. It is processed into flour, which finds application in various culinary preparations.

According to the Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) in December 2022, the data indicates that rising bread prices play a role in the escalation of food inflation in Nigeria.