Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has warned of impending food crisis if no urgent actions are taken to address disruptions to agricultural value chain in the country.
Speaking in Uyo Akwa Ibom State, at the 2021 CBN Executive Seminar, he expressed worry that despite the decline in headline inflation, severe disruptions to agricultural value chain due to security challenges and COVID-19 pandemic, have conversely heightened inflation in the prices of food items nationwide. He said this trend posed serious threat to the nation’s burgeoning population which he warned could face food crisis if no urgent and resilient actions are implemented.
Emefele noted that the United Nations’ Food and Agriculture Organisation reported that at least 9.2 million people in Nigeria faced food crisis between March and May 2021.
“The United Nations has projected Nigeria’s population to be around 398 million people by 2050, far exceeding that of the United States of America. This number challenges our common will to implement strategies targeted at achieving food security and safety, as failure to do so could subject the population to the risks of hunger and diseases.”
Represented by the deputy governor, Economic Policy, Dr Kingsley Obiora, the CBN boss said the fact that the United Nations projected Nigeria’s population to be around 398 million people by 2050, challenges Nigerians common will to implement strategies targeted at achieving food security and safety.
He described the theme of the seminar, “Food Security in Nigeria: Options for Policy” as apt stressing that the theme couldn’t have come at a better time than now when security issues, climate change, and COVID-19 related disruptions are challenging food production and supply, not only in Nigeria but also in the global economy.