Food Crises: Nigeria, 44 Others To Face Food Crisis In 2022
A global management consulting firm says Nigeria and 44 other countries are exposed to the food crises.
Boston Consulting Group conducted a study about the Ukraine war-induced food crisis.
According to the study by the BCG, a global management consulting firm, Nigeria and the other countries are engulfed in poverty.
The report was entitled ‘The war in Ukraine and the rush to feed the world’.
This study entails the multiple direct and indirect impacts of the crisis in Ukraine and the global food supply.
The report also preferred 30 near- and medium-term solutions to the looming food crisis.
According to the report co-authored with Food Systems for the Future, these solutions improve the resilience of global food systems.
It noted that the affected countries were in Africa, South Asia and Latin. It said these hotspots around the world suffered the worst effects of the crisis.
The BCG report, co-authored with Food Systems for the Future, also provided 30 near- and medium-term solutions to help respond to the crisis and improve the resilience of global food systems.
The BCG report further claimed that Nigeria and the 44 other countries suffered:
- Economic challenges.
- Social challenges.
- Extreme poverty.
The challenges worsened with the COVID-19 pandemic that started two years ago.
Other factors affecting the report included:
- Heavy reliance on food imports.
- High inflation.
- Civil unrest.
- high import bills.
- High debt burden.
- Climate risks.
This crisis is forecasted to affect an estimated 1.7 billion people. These numbers are in developing countries.
The UN Task Team for the Global Crisis Response Group said these persons could suffer from:
- Increased food insecurity.
- Greater debt burdens.
- Higher energy prices.
These factors it said are critical to the people’s ability to feed themselves.
“At the same time, there is a critical need to address them more holistically and across all sectors in order to reshape our food systems so that we can counteract this humanitarian crisis—and future ones.”
Stefano Niavas, the Managing Director and Partner at BCG reacted to the findings.
“The impact of the Ukraine war on our food systems calls for critical and immediate review of our budgetary allocation.
“Currently, Nigeria spends over 27 times of its agriculture allocation to service its debt. Compounded with the Ukraine war and the lingering challenges of COVID-19, the average debt-to-GDP ratio across the continent is expected to rise from 60 per cent to 70 per cent.
“To minimise the impact of the crisis on Nigeria’s food systems, the government and all critical stakeholders should ensure stabilising the rising cost of food and fertilizer by the provision of viable seedlings, supporting the growth of alternative nutritious grains, driving the adoption of innovative farm practices. The introduction of alternative sources of fertilizer will help reduce the country’s reliance on food imports.”
Source: PUNCH HealthWise