The Nigerian Economic Summit Group (NESG) has identified inflation, insecurity, and climate change as the primary factors behind the food insecurity and hunger affecting an estimated 26.5 million Nigerians in 2024.
Dr. Tayo Aduloju, CEO of NESG, shared this information during a press briefing on Friday at the Policy Innovation Centre (PIC).
Aduloju emphasized that rising food prices, which surged to 40.66 percent in May 2024 according to the National Bureau of Statistics (NBS), are significantly contributing to the multidimensional poverty experienced by Nigerians.
Projections indicate that around 26.5 million Nigerians will face food insecurity in 2024, with approximately 4.8 million individuals at risk in the conflict-affected northeast region.
“Conflict, climate change, inflation, and increasing food prices are among the pathways contributing to the rise in high food insecurity and malnutrition rates,” Aduloju stated.
This warning aligns with a recent alert from the Food and Agriculture Organization (FAO), a United Nations agency, which cautioned that by 2030, between 80 to 82 million Nigerians could face severe hunger due to ongoing food insecurity issues.
The NBS report further highlighted that the misery index among Nigerians worsened as staple food prices surged above 130 percent in May.
The report detailed significant price increases for essential foods such as rice, beans, garlic, and yams, each rising by at least 130 percent.