RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Insecurity and climate change are the causes of high food inflation-FG

Rate Captain by Rate Captain
March 17, 2023
in Economy
Reading Time: 2 mins read
A A
0
Inflation rises as the naira and fuel scarcity worsen.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Federal Government has identified insecurity and climate change as factors responsible for the rising prices of foods in the country.

According to a statement signed by the Ministry of Finance spokesperson, Olude Omolade, the Permanent Secretary, Budget and Planning, Nebolisa Anako, disclosed this at a workshop on the development of an implementation strategy for the Nigeria Food Systems Transformation Pathways in Abuja.

AlsoRead

Inflation Rate Falls to 15.43% in July, NBS Reports

Food Inflation Climbs to 20.31% in July, Marking Fifth Straight Monthly Rise

NRS Chairman: Ending Fuel Subsidy Averted N53 Trillion Bill and Naira Crash to N3,500

Anako, who was represented by the Director of National Monitoring and Evaluation, Zakari Lawani, described the ongoing programme as a call to action to achieve progress in dealing with issues of poverty, hunger, malnutrition, disease, unemployment, conflict, and changing weather patterns.

He said, “It suffices to say that food insecurity and malnutrition, as well as the influence of climate change, have resulted in lower incomes and higher prices of food.

“This has indeed put food out of the reach of many and undermined the right to food, thereby stalling the efforts to meet the Sustainable Development Goal that emphasizes ‘zero hunger’.”

Anako added that the journey of food systems dialogues in Nigeria started in January 2021, as the country responded to the call by the Secretary General of the United Nations that countries should look inward and organize different levels of dialogue to identify issues and challenges around the food systems and come up with sustainable, innovative strategies towards ending hunger and all forms of malnutrition in line with the SDGs.

“It is important to note that this workshop is an opportunity to review and endorse the underpinning principles and the key thrust of the implementation strategy, finalize the governance and coordination arrangements, institute the monitoring and evaluation framework for the implementation of all 78 priority actions, and validate the 2023 action plan,” Anako stated.

Meanwhile, a steering committee has been constituted to provide technical support for the development of the 2023 action plan at the global stocktake scheduled to take place in Rome in July 2023.

The National Bureau of Statistics’ latest report indicated that the rise in the prices of bread, cereal, rent, potatoes, yams, tubers, vegetables, and meat drove inflation up in February.

The NBS Consumer Price Index report stated, “The contributions of items on a class basis to the increase in the headline inflation index are presented, thus: bread and cereal (21.67%), actual and imputed rent (7.74%), potatoes, yams, and other tubers (6.06%), vegetables (5.44%), and meat (4.78%).”

He called on all relevant stakeholders, including government at all levels and developmental organizations, to support the implementation of all the priority actions in the 2022 call to action, mobilize more resources, and monitor progress.

Previous Post

No Economic Development Without Vibrant, Successful SMEs-Buhari

Next Post

Airtel Africa set $750 million for mobile-money business.

Related News

Understanding Inflation: How Rising Prices Impact Your Finances.

Inflation Rate Falls to 15.43% in July, NBS Reports

by Victoria Attah
August 19, 2026
0

Nigeria’s headline inflation rate declined to 15.43 per cent in July, according to the National Bureau of Statistics. The figure...

Navigating Inflation Crossroads: Nigeria’s Economic Odyssey Amidst Global Trends

Food Inflation Climbs to 20.31% in July, Marking Fifth Straight Monthly Rise

by Victoria Attah
August 19, 2026
0

Nigeria’s food inflation rate rose to 20.31 per cent in July from 17.52 per cent in June, an increase of...

FG Saves N1.45 Trillion as Petrol Subsidy Removal Benefits Emerge

NRS Chairman: Ending Fuel Subsidy Averted N53 Trillion Bill and Naira Crash to N3,500

by Stephen Akudike
August 17, 2026
0

The petrol subsidy could have drained as much as N53 trillion from government coffers under present market conditions and driven...

Petrol Prices Surge in West Africa as Nigeria Removes Subsidies.

NRS Chairman: Fuel Subsidy Could Have Cost N53 Trillion

by Akpan Edidong
August 12, 2026
0

The Chairman of the Nigeria Revenue Service, Zacch Adedeji, has said that Nigeria’s fuel subsidy bill could have ballooned to...

Next Post
Airtel Africa’s nine-month turnover hits $3.9billion.

Airtel Africa set $750 million for mobile-money business.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

NAFEM Turnover Climbs to $1.41 Billion, Highest Level in Five Weeks

August 19, 2026
NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Reopens OMO Market to Retail Investors, Raising Pressure on Weak Equities

August 19, 2026

Popular Story

  • Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    Shocking: “Undress” An AI Tool That Unveils Digital Representations of Individuals Without Clothing

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0
  • Saudi Wealth Fund Buys a Shares in Italian Supercar Producer Pagani

    0 shares
    Share 0 Tweet 0
  • FG Orders Oil Producers to Supply Crude to Dangote, Other Refineries

    0 shares
    Share 0 Tweet 0
  • Naira Appreciates by 7% at Official Window as Reserves Grow in First Week of 2026

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>