A Global Report on Food Crises has highlighted Nigeria as one of 8 countries expected to experience acute food shortage in 2019. According to BusinessDay, a market-focused publication, other countries on the list are Yemen, DR Congo, Ethiopia, Sudan, Afghanistan, Syria, and South Sudan.
The report explained that the expected food crises is a spillover effect of previous years insurgency in the Northern part of Nigeria. That protracted conflict in the region left over 3 million people without adequate food supply. Also, vast hectares of land were left uncultivated, and trading or movement of goods were also on hold due to large displacement of settlers as Boko Haram wreck havoc on a region seeing as the driver of the nation’s abundant food supplies.
However, it is believed that around 22 million Northerners stand to experience the same fate if the worsening insurgency and mass displacement are not arrested in the coming weeks and months. Worse, the acute food shortages will weigh heavily on supplies of produce in the southern region affecting over 50 million households.
The general effect is increase in market prices of produce, and raw materials, which overall will adversely affect savings as citizens spend more on food. In the end, that is bad for the banking system and fiscal activities of government.
Nigeria is blessed with 82 million hectares of arable land. Considering a strong youth population of close to 75 million, it is expected that the nation should be among top exporters of fresh foods. But the reverse is the case. Insurgency, mass urban migration, and discouraging incentives, have led a larger percentage of the population into seeking lucrative options. And the wealth of crude oil sitting beneath the surface of the land has not made government to pay attention to other vital areas where the nation should have generated revenues.
It is expected that the decline in global oil price per barrel will lead the Federal Government into seeking alternative streams to balance the nation’s book. Agriculture and mass entrepreneurship are two of the areas waiting to be explored. But insurgency has to be tackled and shortage of funding for viable business ideas must be addressed.
Readers & Product enthusiasts are encouraged to send in their independent reviews of products/services and their experiences to firstname.lastname@example.org for free and instant publication
READ ALSO! Prostate: What Many Men Don’t Know!