Food insecurity worst kind of insecurity a country can have – Deca

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.

 

 

There’s no doubt that these are difficult times for the average Nigerian as inflation bites hard and diminishes their purchasing power.

The continuous rise in prices of food items like rice, beans, bread, yam, and garri increases cost of living and reduces standard of living.

Agriculture and rural development Minister, Muhammad Abubakar says the federal government is working towards bringing down food prize inflation in Nigeria.

[wonderplugin_video iframe=”https://youtu.be/bFh_TEMDwPs” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]

The minister said the rise in food prices was not peculiar to Nigeria but a global issue caused mainly by climate change, Russia Ukraine war. Mr Abubakar stated this at the end of the Federal Executive council meeting which was presided over by vice president
Yemi Osinbajo at the State House in Abuja .

The minister reaffirmed government’s commitment towards tackling the current inflation and other challenges of food Security in the country.

Analysts say the situation is only going to get worse with the Christmas and new year celebration fast approaching.

A bag of rice is already more than the country’s minimum wage. The commodity now sells for almost N50,000 in some parts of the country.

Speaking on the current price increase and general food inflation on TVC Breakfast, Public Affairs Analyst, Kelechi Deca said there are some myriads of issues and challenges that is facing Nigeria at the moment.

He stated that there has been a global increase in inflation around the world, but the difficulty is that Nigeria has been experiencing its own economic challenges, and inflation has been rising even before the global spike in inflation was observed.

Mr Deca said presently, we are experiencing a global spike, which is getting to about 9%, the highest in almost about 20 years.

“Last year, it moved from 4.7% to where 9.9%, and we expect that by next year it will go down to about 6%. Then by 2024, it will come to where it was, about 4.5%. But that cannot be said about Nigeria.

“The challenges of covid is still with us before the Ukraine-Russia war challenge. Within Nigeria, we also had issues that made it impossible for farmers to go to farms that impacted the level of output from our agricultural products.

“We had issues of insecurity that stopped a lot of farmers from going to farm and forced others to be paying taxes and unofficial fees to banditry. And when farmers are paying such an amount of money to keep going to farm, they have to factor it into the amount they are going to sell their products so that they also remain in business.

“Apart from these, we also have challenges of transporting those products from the farm to the market. There are different layers of challenges that you have to cope with.

“Some of the trucks are also having issues with banditry on the road, arm robbery and kidnappers all over the place. These are issues that has affected the logistics and the way goods are transported coupled with the fact that there are no storage facilities

Mr Deca noted that what Nigeria is experiencing is like a trilemma, so many problems buffeting the country at a given time.

Speaking further on the rising prices of food commodities and the commitment made by the Agriculture and rural development Minister, to subsidies fertilizers, improve production as well as prevent smuggling, Business Analyst, Vivian Ani said what the agriculture minister has said will make almost no difference.

According to Ani, fertiliser subsidies have always been in place but it has always been very challenging to achieve it because farmers who were supposed to be the beneficiaries of those subsidies kept complaining over the years that it was not getting to them.

“Unless government plans to do something differently this time to make sure that the subsidies actually get to the people who are supposed to benefit from the subsidies.

“A lot of smuggling have been taken place in the country and the government has not been able to arrest the situation.

“These things are nice to hear, but the crux is in the implementation. Until the government comes out with a very clear plan of how they want to do the fertilizer subsidy arrangement so that it actually works almost 100% this time, it might not work.

“So until the government comes up with a good plan to implement subsidies, good plan to stop smuggling, I’ll just take it as the usual talk.

Speaking further, Mr Deca stated that the world is going through a turmoil at the moment.

According to him, out of the three major types of fertilizers that are used in the world, Russia controls 45% of its production.

“Russia is currently fighting Ukraine and it is not exporting a lot of its product. If Russia that controls 45% of production is fighting a war, where are you going to get the fertilizers to fill in the gap? the world is suffering from that fertilizer shortage all over the world.

Secondly, you’re talking about Russia and Ukraine, they control about 40% to 45% of global wheat and corn production, it is affecting the whole of North Africa, and the whole of Middle East.

The farmers in Ukraine and Russia have been out of farming for the war is going to a year now, these things are affecting one thing.

Mr Deca stated that the world is interconnected in such a way that one problem in a country affects the some others.

Food insecurity, according to him is the worst form of insecurity a country can have. “Food inflation is 23%, the highest since 2005, and it has been rising over the last eight months. We are not only suffering from inflation, but also from shrink-flashion,” Mr Deca added.