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Food Crisis: 82 million Nigerians May Go Hungry Soon, UN Warns
The United Nations has warned that approximately 82 million Nigerians, which accounts for about 64 per cent of the country’s population, may face hunger by the year 2030. This warning is a result of the continuous increase in food prices in the country, with the food inflation rate reaching a record high of 40.66 per cent in May 2024.
This increase represents the largest year-on-year increase in food prices since records began in 1996. Historically, food inflation in Nigeria has averaged 13.42 per cent, with the lowest point of -17.50 per cent in January 2000.
The Food and Agriculture Organization predicted in 2023 that at least 2.6 million Nigerians in Borno, Sokoto, and Zamfara states, and the FCT may face a food crisis between June and August 2024. Also, a government-led Cadre Harmonisé analysis released in March 2024 stated that about 4.8 million people in Borno, Adamawa, and Yobe states are experiencing severe food insecurity, the highest level in seven years.
The Resident Humanitarian Coordinator of the Food and Agriculture Organization, represented by one of the UN officials, Taofiq Braimoh, said, “The government of Nigeria, in collaboration with others, conducts an annual food security survey. This year’s results are alarming: approximately 22 million Nigerians will face food insecurity in 2023, and around 80-82 million are at risk of severe food insecurity by 2030.”
Agricultural economist Tobi Awolope attributed the high hunger rate in Nigeria to climate change, which has severely affected smallholder farmers, the main players in food production. Awolope noted that those farmers have a low adaptive capacity to cope with the effects of climate change, such as irregular rainfall patterns and lack of irrigation.
The Director General of the National Space Research and Development Agency, Dr Adepoju Mathew, highlighted the importance of science, technology, and innovation in advancing agricultural development and food security
Nigerian banks’ rush to upgrade their core banking systems has caused confusion and frustration for many customers. With banks upgrading to more secure software, the lack of communication and customer support has left millions unable to access their funds, sparking questions about the bank’s commitment to customer welfare.
Dr. Uju Ogubunka, President of Bank Customers Association of Nigeria (BCAN), emphasized the severe impact of these disruptions, stressing the need for better communication and customer preparedness during such transitions. Banks must strike a balance between technological upgrades and customer service to retain trust, especially in an economy facing devaluation pressures.
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As Nigeria commemorates its 64th Independence anniversary, the stark contrast between celebration and the persistent challenges of corruption, mismanagement, and unfulfilled promises becomes evident.
The editorial revisits historical attempts at reform, such as the Independent Corrupt Practices Commission’s (ICPC) prosecutions and the House of Representatives’ inquiry into the unfulfilled $14.5 million aircraft repair contract. Many of these initiatives have faded from public memory, leaving questions about accountability unresolved.
High-profile corruption cases, including the Halliburton scandal involving alleged bribes of $180 million, highlight systemic failures within the political landscape.
The editorial emphasizes the need for collective action from citizens, civil society, and the media to demand transparency and accountability. It warns that without addressing these entrenched failures, Nigeria’s path toward democracy and good governance may continue to be fraught with unfulfilled promises.
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In a significant blow to Scotland’s energy sector, the 100-year-old Grangemouth refinery is set to close in 2025, citing its inability to compete with modern plants in Africa, Asia, and the Middle East. The refinery’s operator, Petroineos, announced the closure, which will result in the loss of 400 jobs.
Located in Scotland, Grangemouth refinery has been in operation since 1924, making it the country’s oldest and only refinery. However, despite its rich history, the refinery has struggled to remain competitive in the face of mounting global competition. Petroineos, a joint venture between PetroChina Internation al London (PCIL) and INEOS Group, a British chemicals firm founded by billionaire Sir Jim Ratcliffe, has invested $1.2 billion in the refinery since 2011.
However, the company has incurred significant losses, totalling over $775 million during the same period. According to Petroineos, the refinery is currently losing around $500,000 per day and expects a $200 million loss in 2024.
The company’s Chief Executive, Frank Demay, stated that the market for petrol and diesel fuels is expected to shrink further due to the upcoming ban on new petrol and diesel cars within the next decade. “Grangemouth is increasingly unable to compete with bigger, more modern and efficient sites in the Middle East, Asia and Africa.
Due to its size and configuration, Grangemouth incurs high levels of capital expenditure each year just to maintain its licence to operate,” Demay explained. The closure of Grangemouth refinery marks a significant shift in the global oil refining landscape, with modern and efficient plants in Africa, Asia, and the Middle East gaining a competitive edge. The Dangote Refinery in Nigeria, one of the largest refineries in Africa, may have contributed to the decline of Grangemouth refinery.
The refinery will be converted into a fuel import terminal, ensuring Scotland’s energy needs are still met. However, the closure raises concerns about the country’s energy security and the impact on local communities.
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