Thoughts on Nigeria’s Food Insecurity

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Nigeria is grappling with a multitude of significant challenges, each akin to a ‘ticking time bomb’ that threatens national stability. Among these, the most pressing yet underappreciated is food insecurity. Despite its critical nature and its direct link to national security, food insecurity has not received the urgent attention it requires from the federal and state governments. This crisis not only impacts the day-to-day lives of citizens but also undermines the country’s economic prospects and national security. The time to act is now, as government responses have often appeared chaotic or detached, failing to address the root causes of the problem.

The failure to prioritise food security today will have severe long-term consequences. Statistics from the United Nations Food and Agriculture Organisation (FAO) reveal that as of 2023, approximately 25 million Nigerians were facing moderate to severe food insecurity. This represents a 20% increase from the previous year, primarily attributed to escalating inflation, insecurity, and the effects of climate change. These figures underscore the urgent need for a coherent, focused strategy to tackle food insecurity and avoid an even more profound crisis in the future.

Nigeria can learn from successful food security strategies implemented in countries like India and Brazil, which have significantly reduced their food insecurity rates. By adopting similar approaches, Nigeria can make significant progress in addressing this crisis.

Food insecurity in Nigeria is not a standalone issue but a complex web of interrelated factors. One of the most significant contributors is farmers’ lack of access to affordable capital. Agriculture, which employs over 70% of Nigeria’s rural population, remains stifled by high interest rates. The Central Bank of Nigeria (CBN) maintains a benchmark interest rate of about 27.5%, while commercial bank interest rates range between 30-40%. These exorbitant rates make it nearly impossible for farmers to secure the financing they need to expand operations or adopt modern farming techniques. This is just one thread in the intricate fabric of Nigeria’s food insecurity.

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Farming is not just about planting seeds; it is a business that requires long-term investment. In Nigeria, however, the business environment prioritises short-term profit over sustainable growth. This mindset makes agriculture less attractive to investors, leaving farmers without the resources necessary to improve productivity. As a result, food production is declining year after year, exacerbating the country’s already severe food insecurity. A 2021 study by Nigeria’s National Bureau of Statistics (NBS) reported a 15% decrease in agricultural output over the past five years, a troubling trend that, if unchecked, could lead to even more significant food shortages in the near future.