FG must take proactive measures in curbing the escalating food costs

Over the past two years, food prices have consistently risen, but the sharp surge in food inflation between December 2022 and December 2023 can be attributed to the federal government’s decision to completely withdraw from fuel subsidy in June of the previous year.

Recent reports have highlighted the relentless escalation of food prices, which, if left unchecked, could lead to severe hunger for many families across the country.

In the 2023 Global Hunger Index, Nigeria ranked 109th out of 125 countries, with a staggering 28.3 percent of its population experiencing hunger.The current trend of inflation in food commodities is undeniably alarming and poses a significant danger to the nation.

Life has become increasingly challenging for the majority of Nigerians on a daily basis, and this situation is likely to worsen as the holy month of Ramadan approaches. If the majority of the population cannot afford to feed themselves adequately, the country’s collective agenda for development and the hope for an improved quality of life for its over 200 million citizens will remain nothing more than wishful thinking.

However, the soaring inflation rate in Nigeria, currently at a record-high of 28.92 percent, has had a profound impact on various aspects of the socio-economic life of its citizens. However, none has been as burdensome as the exorbitant cost of food items.

According to the National Bureau of Statistics (NBS), food inflation reached a staggering 33.93 percent in December 2023, marking a significant increase of 10.18 percent from the previous year.

The current minimum wage of N30,000 per month is woefully inadequate and fails to meet the basic needs of workers. The general rule of thumb for determining food affordability is that an average meal should not cost more than a worker’s hourly income, which, based on the current national minimum wage, amounts to a mere N187.5.

Unfortunately, it is nearly impossible to find an average meal at such a low price in Nigeria. Today, an average Nigerian worker supporting a family of four would need to spend more than half of their monthly income on food alone, leaving very little for essential expenses such as healthcare, transportation, rent, children’s school fees, and utility bills.

When the bellies of the nation are filled with affordable food, the entire country reaps the rewards. It’s not just about satisfying hunger, but about nourishing the body and promoting good health. With access to cheap and nutritious food, the scourge of malnutrition, undernutrition, and starvation can be kept at bay.

A well-fed population is a healthy population, and that means less strain on the healthcare system and fewer medical expenses for the government.But the benefits go beyond health and economics.

The affordability of food is a matter of national security. When the majority of citizens can comfortably enjoy three square meals a day, peace and political stability become more attainable.

Hunger breeds discontent and anger, and history has shown us that food shortages can ignite social unrest and threaten the very fabric of society. Just look at the flour war in France back in 1775, where skyrocketing food prices sparked over 300 riots.

To ensure a thriving agricultural sector in Nigeria, we must create an environment that supports and prioritises crop and animal production. With a vast expanse of arable land, the potential for agricultural success is immense.

It’s time for the government to step up and provide the necessary support. This means subsidising fertilizers and farm implements, as well as following through on partnership agreements, such as the one with Morocco to build a state-of-the-art fertiliser plant. By investing in agriculture, we not only make food more affordable for our citizens but also tackle poverty and unemployment head-on.

It’s a strategic move that requires careful planning and unwavering commitment.

The government needs to take decisive action in addressing the various security threats faced by farmers and the agricultural sector. In order to ensure that cheap food is readily available to all, it is crucial to improve the road networks, particularly in rural areas of Nigeria, to facilitate the transportation of farm produce to markets.

Furthermore, the impact of climate change on traditional farming practices necessitates the revival and strengthening of river basin authorities to promote dry-season farming.To support real farmers, the Bank of Agriculture should make it easier for them to access credit facilities.

Given the interconnected nature of food production, marketing, and demand, the re-establishment of marketing boards is recommended.

These boards can counter artificial market forces and prevent exploitative practices by middlemen. By purchasing excess farm produce from farmers and releasing it into the market when prices rise, marketing boards can ensure price stability.

Nigeria possesses abundant human and material resources, making it capable of providing affordable food to its population.

However, urgent measures must be taken to address the current dire situation. The government should prioritise the welfare of its citizens by implementing policies that effectively combat inflation and stabilize food prices.

Additionally, efforts should be made to increase the minimum wage to a level that enables workers to maintain a decent standard of living.

Failure to take immediate action will only worsen the suffering of the Nigerian people and impede the nation’s progress towards development and prosperity.

Let’s seize this opportunity to transform our nation’s food system and pave the way for a brighter future. Together, we can ensure that no Nigerian goes to bed hungry and that our country thrives on the strength of a well-fed and prosperous population.