NAIRAMETRICS
The World Bank has stated in its latest Food Security report projects that seven states across the North-west and North-east to be at crisis food security level in 2024 because of insecurity and armed conflicts reducing the standards of living 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.”
It further stated that areas in Northeastern states such Abadam, Bama, Guzamala, Marte etc will experience Emergency food security levels (IPC Phase 4) as a result of limited household food stock and access to market and humanitarian aid.
Low-income countries to see increased inflation
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.
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