Economy
SOME agriculture experts have attributed insecurity, population growth and high cost of farm inputs as the reasons for the persistent food inflation in the country.
They disclosed this in separate interviews with the News Agency of Nigeria (NAN) in Lagos, while reacting to the National Bureau of Statistics (NBS) June food inflation index.
The NBS said that Nigeria’s headline inflation rate increased to 34.19 per cent in June 2024
The NBS said this in its Consumer Price Index and Inflation Report for June released on Monday.
According to the report, the figure is 0.24 per cent points higher against the 33.95 per cent recorded in May 2024.
The NBS said in June 2024, food inflation on a year-on-year basis was highest in Edo with 47.34 per cent and Nasarawa was the lowest with 34.31 per cent.
Mr Akin Alabi, an agriculture expert and co-founder Corporate Farmers International, said the food inflation was not peculiar to Nigeria.
Alabi said the production rate of food was on the decline due to insecurity, population growth and high cost of farm inputs.
“The growing food inflation rates is not peculiar to Nigeria, it is happening across the world due to both internal and external factors.
“The demand for food is growing on a daily basis because of population growth, this is a clear indication that food inflation will continue to rise.
“However, the problem we have in Nigeria is that the production rate of food is on a decline.
“This decline is caused by the cost of farm inputs, which is really high. Inputs are the core of food production and once we cannot get it right every factor will fail.
“The government need to put extra efforts to subsidise the cost of farm inputs, and then we will have increased productivity,” Alabi said.
He called on the Federal Government to address insecurity issues in the country for farmers to go back to their farms.
“Food can be surplus when we do this and also ensure security for local farmers. When we do this, food inflation will come down and all other indexes too.
“We must also provide adequate logistics and transportation for local farmers to transport their produce at ease.
“If we cannot get any of these right, food inflation will keep increasing,” he said.
Also speaking, a climate change advocate, Mr Emmanuel Emechete, noted that attention must be paid to climate change issues and insecurity to address the growing food inflation rates.
“This alarming rise in food prices is a clear indicator of underlying issues that need urgent attention.
“There are environmental and socio-economic drivers of food inflation, there are factors that influence the food crisis trend.
“Foremost is insecurity and agricultural disruption, the above factors are affecting both production and distribution of food.
“Also, climate change contributes to the food inflation rise, unusual weather patterns, prolonged droughts, and flooding, have severely affected crop yields.
“It has subsequently reduced the rate of food production, leading to scarcity and higher prices,” Emechete said.
However, Mr Segun Adebayo, agriculture expert, called for effective implementation of the agricultural policies introduced by the Federal Government to boost food security.
“We also need to see the impact of the presidency’s measures to address food inflation in the country.
“The removal of import duties from some food items will also help alleviate this rising food inflation index.
“We heard that the government is giving 20 trucks of rice to each state to alleviate the food inflation issues. It is a welcome idea but it is not sustainable.
“The distribution should, however, get to the right people, we hope this will also reduce price increase,” Adebayo said.
Adebayo, however, said that the importation of food policy would not be favourable in the long term.
“The importation of food policy is also not favourable in the long term in addressing the food crisis.
“This is an ill thought measure and will put a lot of strain on our foreign exchange.
“We also need to consider the safety part of these food imports, so as not open the country to unhealthy foods.
“We need to also make our farmers safe enough to go to their farms to ensure sustainable food security in the country,” the expert said. (NAN)
A.I
July 17, 2024 @ 11:24 GMT|
Tags: Mr Segun Adebayo National Bureau of Statistics
