Approximately 33.1 million Nigerians may fall into food insecurity by 2025, driven by rising inflation, persistent economic hardship, and violence in food-producing regions.
This projection is outlined in a report by PricewaterhouseCoopers International Limited (PwC) titled “2025 Nigerian Budget and Economic Outlook.”
According to the report, “Approximately 33.1 million Nigerians may become food insecure in 2025 due to hardship, high inflation, and violence in Northern food-producing regions.”
Rising food prices have pushed an estimated 25.1 million people into acute food insecurity in 2024 alone, according to the report.
This has been worsened by conflicts in northern Nigeria, where much of the country’s agricultural production takes place.
“Rising food prices have intensified food insecurity in Nigeria, leaving an estimated 25.1 million people acutely affected in 2024,” PwC noted.
Violence in these regions has disrupted farming activities, reduced agricultural yields, and created supply chain bottlenecks. These factors, combined with high inflation rates, could make food unaffordable for millions of Nigerians.
Government Interventions
In response to this crisis, the Nigerian government has prioritized security and agricultural reforms.
The PwC report highlights that “With increased security spending rising to 16% of the budget from 12% in 2024, and the implementation of agricultural reforms, food inflation might reduce in 2025.”
This shift demonstrates the government’s focus on addressing violence in agricultural zones, a major contributor to food insecurity.
Additionally, ongoing agricultural reforms aim to improve local production, strengthen supply chains, and mitigate the impact of rising food prices.
The report warns that if the underlying issues of inflation, insecurity, and economic hardship are not addressed, the number of Nigerians facing food insecurity could continue to rise. Experts also emphasize the importance of diversifying Nigeria’s food sources, investing in modern agricultural practices, and creating an enabling environment for private sector involvement in food production.
More people fall below the poverty line
PwC further noted that unfavourable macroeconomic policies could push 13 million more Nigerians below the national poverty line by 2025.
The British agency noted “The number of people living below the national poverty line is projected to increase by about 13 million by 2025” due to the country’s rising inflation and cost of living.
Key Highlights:
- Rising inflation, insecurity, and economic challenges could exacerbate food insecurity.
- PwC report estimates that 33.1 million Nigerians may face food shortages in 2025.
- Security spending and agricultural reforms may offer hope for food inflation relief.
- Increased security spending from 12% in 2024 to 16% of the budget, and the implementation of agricultural reforms, food inflation might reduce in 2025
