Nigeria’s ex-minister of finance, Ngozi Okonjo Iweala who now doubles as The Director-General of the World Trade Organisation (WTO) has revealed that the war between Russia and Ukraine will soon cause a huge increase in the price of bread.
During a speech at a virtual event with IMF Chief identified as Kristalina Georgieva, Okonje Iweala addressed the fact that Ukraine is the world’s major exporter of wheat and the crisis that the country is currently experiencing will hurt consumers around the world.
The former minister of finance added that the World Trade Organization (WTO) hopes that the conflict will be resolved soon as she expressed deep concern over “the implications of the conflict, especially trade in agriculture and food products”.
In her full words, she said;
“At the WTO, we have watched this tragedy in Ukraine unfold with disbelief and the hope that it would have been peacefully resolved,”
“However, this is now the 7th day, and we are deeply saddened by the continued suffering and loss of life. We pray that there will be a peaceful and quick resolution.
“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population.”
“We are also concerned about the trade implications of the conflict, especially trade in agriculture and food products and the rise in energy prices and their effects on the impacted population.”
