February 06, (THEWILL) – Seven states across the North-west and North-east Nigeria are projected to face crisis of food security in 2024 because of insecurity and armed conflicts, the World Bank has projected in its latest Food Security report.
The World Bank added that the situation would reduce the standards of living among the people across the region,
The states highlighted by the bank are Borno, Adamawa, Kaduna, Katsina, Yobe, Sokoto, and Zamfara states.
Beyond Nigeria, the report noted that other countries in the West African region such as Burkina Faso, Chad, and Niger will experience varying degrees of food insecurity.
It stated, “It is projected that most areas in West and Central Africa will remain Minimally food insecure (IPC Phase 1) until May 2024,/ with some being categorized as Stressed IPC 2.
Nigeria (far north of Adamawa, Borno, Kaduna, Katsina, Sokoto, Yobe, Zamfara states) will be at Crisis food security levels (IPC Phase 3), mostly because of persistent insecurity and armed conflict and deteriorating livelihoods.”
The report also noted that over 63.2% of low-income countries experienced inflation levels surpassing 5%, marking a 1.3%-point increase compared to the previous food update on January 17, 2023.
In lower-middle-income countries, 73.9% saw inflation levels exceeding 5%, while 48% of upper-middle-income countries maintained similar percentages as the last update, with no changes recorded.
The World Bank noted that in high-income countries, over 44.4% reported food inflation levels surpassing 5%, marking a 1.9% decrease compared to the previous food update.
Additionally, the report revealed that in real terms, food price inflation outpaced overall inflation in 71% of the 165 countries where data was available.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
