W’Bank warns of food market pressures in Nigeria, others following Niger coup
The recent coup d’état in Niger has sent shockwaves through the region, with the World Bank warning of potential consequences for food markets in Nigeria and other West African countries.
This political upheaval has raised concerns that an additional seven million people in the area could face severe food insecurity.
This alarming prediction comes at a time when 3.3 million people are already grappling with food shortages during the lean season, exacerbated by soaring prices of essential commodities and staple foods.
The World Bank, headquartered in Washington, D.C., highlighted these challenges in its September ‘Food Security Update,’ cautioning that the coup in Niger could further strain West African food markets.
The economic and financial sanctions imposed on Niger by the Economic Community of West African States and the West African Economic and Monetary Union have already taken a toll on the country’s food prices.
In August alone, these prices surged by as much as 21 per cent, making it increasingly difficult for low-income households to meet their dietary needs and access sufficient food. The situation is undeniably dire, and urgent action is needed to address the looming food crisis in the region.
The World Bank’s warning serves as a wake-up call for governments and international organisations to prioritise food security and work towards finding sustainable solutions to ensure that no one goes hungry in West Africa.
“With the government’s limited financial capacity to implement its food assistance programme, continued provision of food aid by the World Food Programme remains essential, but access restrictions hinder aid delivery.
“Moreover, FAO expects that shortages of seeds and feed and high fertiliser costs will affect the next agriculture season, exacerbating food insecurity, which is expected to persist beyond the lean season,” It stated.
The number of individuals in Western and Central Africa who require food and nutritional assistance has increased from over 10.7 million in 2019 to almost 29 million in 2021 to more than 40 million in 2022 and 2023, according to the bank, which underlined the region’s ongoing food crisis.
It emphasised that 42.5 million people in Nigeria and other West African nations faced a food crisis or worse between June and August 2023.
“The main factors affecting food security are civil insecurity and conflict, which have led to forced displacement; climatic shocks; political instability; the consequences of the COVID-19 pandemic; and the war in Ukraine, which have increased the volatility of prices for foodstuffs and other commodities and caused widespread inflation. Current food prices of the main staple and imported food products remain higher than during the same period last year.l,” the bank said.
