Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Agriculture

If insecurity in the North is addressed, food prices will crash – Dr Biodun Akinkunmi

Omono OkonkwobyOmono Okonkwo
2 months ago
in Agriculture, Industries
Food prices surge across Lagos on election week amidst panic-buying, cash crunch
Share on FacebookShare on TwitterShare on Linkedin

Financial Economist, Dr Biodun Akinkunmi, has said that food prices will crash if insecurity in Nigeria’s Northern region is tackled effectively. 

Stating this during an interview on Arise TV, yesterday, Dr Akinkunmi bemoaned that high food inflation is pushing headline inflation further up. Therefore, there is an urgent need for the incoming administration to address insecurity in the North so that farmers can return to their farms.

High food inflation: Food inflation in 2022 averaged 20.82% compared to the 12-month moving average of 20.49% recorded in the previous year.

Insecurity in the Northern part of the country has impacted farming communities, with many Nigerians being killed on their farmlands and communities being overrun by non-state actors.

According to UNICEF, Food access has been affected by persistent violence in the north-east states of Borno, Adamawa and Yobe, and armed banditry and kidnapping in Katsina, Sokoto, Kaduna, Benue and Niger states.

A different angle: Nairametrics had previously reported that data from Nairalytics revealed that food prices are one of the contributing factors to the country’s rising inflation rate. According to Nairametrics, Nigeria suffered a food supply crunch in 2022 as a result of floods. This has made food prices surge drastically, against the backdrop of destroyed farmlands and produce.

Priority for next administration: According to Dr Akinkunmi, the next president will need to have an elaborate plan to address the insecurity in the Northern region, so that food prices can crash and headline inflation can also crash. He said the presidential candidate of the People’s Democratic Party (PDP), Atiku Abubakar who once headed the country’s Economic Management Team as a Vice President was the only one capable of addressing challenges plaguing Nigeria’s economy.

He said Abubakar has recorded double-digit growth in the past as Vice President and he is capable of repeating the feat.

For the record: Nigerians who are food insecure also include highly vulnerable displaced populations and returnees who are already struggling to survive a large-scale humanitarian crisis in which 8.3 million people need assistance as of 2022.

Related

Tags: Dr. Biodun AkinkunmiFood PricesInsecurity

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Cadbury ingenuity kept it profitable but the headwinds are raging
  • NGX All-Share Index defies election jittery, economic headwinds gains 5.8% in Q1 2023
  • Apply: Nigeria’s energy transition office launches writing competition for students targeting climate change, energy systems

Follow us on social media:

Recent News

Cadbury Nigeria Plc reports N1.29 billion pre-tax profit for FY 2022

Cadbury ingenuity kept it profitable but the headwinds are raging

April 1, 2023
NGX All-Share Index

NGX All-Share Index defies election jittery, economic headwinds gains 5.8% in Q1 2023

April 1, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!