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MUCH to their chagrin, the prices of basic food items are rising astronomically, preventing many Nigerians from feeding properly. Intriguingly, the rising price regime affects foods produced domestically and those imported, like rice, beans, tomatoes, pepper, onion, flour, egg, oils, bread, plantain, fruits, frozen foods, and yam. These are staple foods that Nigerians consume daily.
It equates to widespread hunger, potential starvation and high nutrition deficiency for children who require a sustained dose of it to grow properly. It is not going to lessen anytime soon. According to the National Bureau of Statistics, while overall inflation is 17.75 per cent, food inflation jumped to 21.83 per cent in June. It was 22.28 per cent in May; in January, it stood at 20.57 per cent, compared to 19.56 per cent in December 2020.
In part, Nigeria’s food debacle is self-inflicted. Over time, the country neglected agriculture despite its rising population. With oil money flowing, it became import-dependent on staples it can produce. Independent research states that Nigeria imported agricultural products worth N1.71 trillion in 2020 compared to N959.5 billion in 2019. This is not sustainable, in part because of the economic headwind aggravated by the falling naira. Annually, Nigeria needs about 4.
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