World Bank predicts insecurity, deteriorating livelihoods in Nigeria

According to World Bank projections, until May 2024, local government areas in Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara, and the far north of Adamawa State in Nigeria will be impacted by ongoing insecurity, armed conflict, and decreasing standards of living.

It was mentioned that the country’s cereal production will be impacted by the unfavourable macroeconomic conditions that are limiting the affected states’ access to agricultural inputs.

According to the World Bank’s most recent “Food Security Update,” West and Central Africa’s projected cereal production for the 2023–2024 crop year is predicted to be 76.5 million tonnes, a 3% increase over the previous season but a 2% drop from the average over the previous five years.

According to the report, Nigeria, Niger, Mali, and Chad are predicted to make the largest contributions to the drop.

“Projections indicate a decline in production from last year in Chad, Mali, Niger, and Nigeria,” the Bretton Woods Institution states.

“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.”

It further stated that from November to May 2024, the majority of the sub-region’s areas will continue to fall under the category of minimally food insecure.

It further stated that during the same time frame (November to May 2024), local government areas in the Nigerian states of Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara, and the far north of Adamawa state are expected to experience Crisis (IPC Phase 3) conditions, which are primarily brought on by ongoing insecurity and armed conflict, as well as declining livelihoods.

The report lists further locations as being in Burkina Faso, Cameroon, Chad, Mali, and Niger.

According to the information provided, food price inflation data for the most recent month between August and November 2023 indicate high inflation in many low- and middle-income countries. Inflation is more than 5 percent in 61.9 percent of low-income countries (which has remained unchanged since the last update two weeks ago), 76.1 percent of lower-middle-income countries (which has decreased by 3.9 percentage points), 50.0 percent of upper-middle-income countries (which has remained unchanged), and 57.4 percent of high-income countries (which has experienced a 2.6% percentage point decrease).

Africa, North America, Latin America, South Asia, Europe, and Central Asia are the regions most affected, the survey states.

According to the report, food inflation in Nigeria increased to 32.84% in November, while headline inflation increased to 28.20%.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.