Following the rising inflation and high food prices, the United Nations World Food Programme, WFP, has revealed that it is reviewing its local food procurement and will buy food in Nigeria only in stable market conditions.
A statement by the UN agency on Tuesday reads: “Last week, a WFP monitoring mission in Borno, Yobe, and Kano states confirmed unprecedented inflation rates and high food price rises caused by market speculations. This poses significant challenges for Nigerians, particularly those who are displaced, are unable to farm, and are dependent on markets to access food.”
The statement quoted WFP’s Country Director and Representative in Nigeria, David Stevenson, as saying: “We are aware of traders holding food in their warehouses, pretending it is WFP’s. This is inaccurate, as WFP has limited stock available to continue supporting the most vulnerable Nigerians with critical assistance.”
He disclosed that WFP is undertaking a comprehensive review of Nigeria’s local food procurement, and will purchase food in Nigeria only when the market conditions are stable for all.
The statement added that high rates of inflation and soaring market prices have destroyed the purchasing power of many Nigerian families, especially those in the conflict-affected northeast of Nigeria.
The November 2023 Cadre Harmonisé food security analysis projected that up to 4.4 million people in the northeast states of Borno, Adamawa and Yobe will require food assistance during the June–August 2024 lean season, with over one million people facing emergency levels of hunger.