This is as it disclosed that poor macroeconomic conditions
are restricting access to agricultural inputs in the country.
This is set to affect cereal production in the country. The
global bank revealed this in its latest ‘Food Security Update.’
Estimated cereal production for the 2023/24 crop year is
expected to be 76.5 million tons in West and Central Africa, which is a two per
cent decrease from the previous season, but a three per cent rise from the
average for the last five years.
Chad, Mali, Niger, and Nigeria are expected to contribute
the most to this decline.
The Bretton Woods institution said, “Projections indicate a
decline in production from last year in Chad, Mali, Niger, and Nigeria. This
decrease is attributed to dry spells during the growing season and insecurity
that limited access to cropland in Chad, Mali, and Niger and to poor
macroeconomic conditions that have restricted access to agricultural inputs in
Nigeria.”
While overall, most of the sub-region’s areas will remain in
the minimally food insecure (category from November to May 2024, some areas are
classified as stressed and some in crisis.
It added, “Over the same period (November to May 2024),
Crisis (IPC Phase 3) conditions, mainly caused by persistent insecurity and
armed conflict, and deteriorating livelihoods, are projected to affect the
following regions:
“Nigeria: Local government areas in Borno, Kaduna, Katsina,
Sokoto, Yobe, Zamfara states, and the far north of Adamawa state.”
The other places this will affect include places in Burkina
Faso, Cameroon, Chad, Mali, and Niger.
In its latest update, the World Bank noted that between
August and November, many low- and middle-income countries were battling with
high inflation.
It stated, “Information from the latest month between August
and November 2023 for which food price inflation data are available shows high
inflation in many low- and middle-income countries, with inflation higher than
5 per cent in 61.9 per cent of low-income countries (no change since the last
update two weeks ago), 76.1 per cent of lower-middle-income countries
(3.9-percentage-point decrease), 50.0 per cent of upper-middle-income countries
(no change), and 57.4 per cent of high-income countries (2.6-percentage point
decrease).”
It noted that the most-affected countries are in Africa,
North America, Latin America, South Asia, Europe, and Central Asia. It further
highlighted that in real terms, food price inflation has exceeded overall
inflation 74 per cent in 167 countries.
In November, Nigeria’s headline inflation rose to 28.20 per
cent while food inflation soared to 32.84 per cent.
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