More than 30 million people are expected to experience food insecurity next year, marking a one-third increase from this year due to economic difficulties, according to a joint report from the government and the United Nations.
The analysis, conducted twice a year across 26 states and the federal capital, projects that 33.1 million people will face food insecurity by August 2024. This figure compares to 24.8 million expected by the end of this year.
“Several factors are driving this trend, but the most significant ones are economic difficulties associated with record inflation, unprecedented rises in food prices, and soaring transport costs,” stated a release accompanying the report.
“Economic decisions aimed at strengthening the country in the long term have, in the short term, been perceived as a direct hit to people’s wallets, impacting them harder every time they try to buy food,” said Chi Lael, a spokesperson for the World Food Programme in Nigeria, as quoted by Reuters.
Finance Minister Wale Edun reported that 5 million households have so far received cash assistance of 25,000 naira under the government’s program to support the most vulnerable families.
High food prices have been the main contributor to inflation, which rose to 32.70% year-on-year in September, up from 32.15% in August.
Economic hardships have intensified after President Bola Tinubu launched austerity reforms, including the devaluation of the naira and the end of a decades-old fuel subsidy, further fueling inflation.
