Expert has warned that Nigerians should be cautious of food insecurity in the coming months, as a result of the situations that surround the outbreak of the COVID-19 in the country.
Mr. Victor Ndukauba, a Financial Analyst and Deputy Director of Afrivest West Africa Ltd disclosed this in Lagos on Monday while being interviewed by the News Agency of Nigeria (NAN)
He warned that Nigerians should be wary of the growing food insecurity and inflation in the country as a result of the COVID-19 pandemic. Saying that Nigerians should examine the impact of COVID-19 on Nigeria food security.
In his words, he said, “When you look at the inflation basket in Nigeria, more than half of it is actually food inflation. About 51 percent of the inflation basket is attributed to food inflation.”
He continued that “More than half of that 51 percent is caused by imported foods. So, at the end of the day, imported foods account for about 26 to 27 percent of the national inflation basket.”
Ndukauba also noted that in order to stall the outbreak of COVID-19 has led to the shutdown of the logistics industry and the airlines are not working.
The expert then posited that the shutdown of the logistic industry will pose a lot of challenges on the component of imported food that people consume, he emphasized that it would be inflated in price or even become scared.
He said that “Imported components like flour which support our bread, pasta/macaroni and also wheat which goes into a lot of beverage production in the country and we also import sugar.”
“Sugar is required for a lot of food production here in Nigeria. A lot of the beverage industries need sugar; also, sugar is used in the pharmaceutical industries, etc.”
“Most sugar companies in the country have facilities by the seaports, where they import large volumes, process it and package it for sale,” Ndukauba said.
He described the market as one end of the agricultural value chain, providing an avenue for the consumer to buy and posited that the farmland is today neglected.
He then argued that, before the outbreak of coronavirus, farming activities have not been regular in the country as a result of the herdsmen attacks.
To him, food inflation this year is inevitable, Nigerians must learn to get used to it.
The expert then said “Cost of food has been driving inflation up as the output of our farms has already begun to decline,’’.
*Abada Yusuf Amoo is a staff writer for The West African Pilot News
