COST OF FOOD : WHY NIGERIANS MAY SPEND MORE IN 2022

 

About 9.4 million more Nigerians will face food insecurity between the June and August 2022 as 21 states, including FCT and Internally Displaced Persons. In this part of the conversation, we look at the role of fiscal authority and the political to addressing the looming food crisis in the country.

Global food security has steadily worsened over the past several years. According to the 2022 Global Report on Food Crises, nearly 193 million people experienced crisis level or worse food insecurity in 2021, an increase of almost 40 million over the previous record in 2020. The number identified in the 2022 edition is the highest in the report’s six-year existence.

The negative food security outlook is projected to continue or worsen this year and the ongoing conflict in Ukraine and resulting disruption to food, fuel, and fertilizer markets has exacerbated an existing food crisis driven by conflict, climatic shocks, COVID-19, and economic pressures.

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To address this impending crisis, analysts and industry watchers maintain that comprehensive solutions must be provided to address the impacts of food insecurity on the country

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