S&P 5007,666.60▲0.5% Nasdaq26,217.83▲0.5% Dow53,061.95▲0.6% Russell 2K2,953.17▲1.1% 10-Yr4.80%+0bp VIX15.20−1.14 WTI$90.70▲0.5% Gold$4,431.70▲1.9% EUR/USD1.159▼0.1% BTC$79,153▼1.5% Nikkei66,215▼0.1%
At close · Thu, Sep 3, 2026
Daily Market Updates.

Commodities

HomeCommoditiesAgricultureNigeria targets self-sufficient wheat supply as import…

Nigeria targets self-sufficient wheat supply as imports rise

Wheat production is projected to reach 140,000 tonnes in 2026-27, but demand of more than 6.8 million tonnes is expected to be met largely through imports.

Nigeria is trying to shift from relying on wheat imports toward producing enough domestically, but the effort has produced mixed results as the government and wheat milling companies use subsidies and trade restrictions, according to World Grain.

While reports cited by the outlet show Nigeria’s wheat production has nearly doubled since 2020, consumption has risen by more than 45%, and wheat imports have increased to cover domestic demand.

For the 2026-27 marketing year, production in key growing regions including Kano, Borno, Bauchi, Yobe, Zamfra, and Jigawa is projected to reach 140,000 tonnes, a 7% increase from last year. Demand is projected at more than 6.8 million tonnes, with the US Department of Agriculture Foreign Agricultural Service predicting it will be met via import volumes of 7.2 million tonnes.

World Grain also notes Nigeria has aimed to cut the wheat import bill by at least 50% over the past decade, including through programs financed by the African Development Bank. One effort, the National Agricultural Growth Support Scheme Agro-Pocket, is expected to add output and raise yields by 2027, with wheat farmers receiving subsidies on seeds and fertilizer through the initiative.

Latest closeWheat $774.75 ▲1.4%

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.