Food insecurity in Nigeria remains a pressing issue, exacerbated by many factors including conflict, climate change, economic instability, and rising inflation. The African Development Bank (AfDB) President, Dr. Akinwumi Adesina, during a speech at the Council of Anglican Provinces of Africa retreat in Abuja, recently emphasized the critical need for Nigeria to enhance its food production capabilities to address food insecurity.
He stated, “Nigeria cannot rely on the importation of food to stabilize prices”. Nigeria should produce more food to stabilize food prices while creating jobs and reducing foreign exchange spending, which will further help stabilize the Naira.” This assertion underscores the importance of self-sufficiency in food production, boosting local agricultural production, and implementing sustainable practices to stabilize the economy and ensure food security.
Food Insecurity Crisis in Nigeria: A Statistical Overview
The situation in Nigeria is critical. Here are some key statistics that illustrate the magnitude of food insecurity:
- Global Hunger Index: Nigeria ranks 109th out of 125 countries on the 2023 Global Hunger Index, indicating a serious level of hunger. The GHI measures hunger through a composite index based on undernourishment, child stunting, child wasting, and child mortality. According to the World Food Programme (WFP), an estimated 26.5 million Nigerians are projected to face acute hunger during the lean season of June-August 2024, a significant increase from the 18.6 million people in 2023.
- Economic Factors: The National Bureau of Statistics (NBS) reported a significant rise in food inflation, with the inflation rate reaching 40.53% in April 2024, up from 15.92% in the previous year. Over the past year, prices of staple foods have surged dramatically, with the price of rice increasing by approximately 169%. Rising costs of food and essential commodities, driven by inflation, the devaluation of the naira, and the discontinuation of fuel subsidies, further intensified food insecurity.
- Conflict and Displacement: In the north-eastern states of Borno, Adamawa, and Yobe, the ongoing conflict has displaced 2.2 million people and left an additional 4.4 million food insecure, with three million of them in Borno State alone (WFP). High malnutrition rates, particularly in conflict-affected areas, remain a critical concern. According to UNICEF, 17 million Nigerian children are suffering from acute malnutrition, with 2 million at risk of dying from The ongoing issues of insecurity, economic instability, and inadequate access to nutritious food have heightened the situation.
- Food Production Decline: Due to insecurity in the northern regions, agricultural production has significantly declined. This has disrupted supply chains and increased food prices, contributing to the overall food crisis (WFP)
These statistics emphasize the ongoing challenges Nigeria faces in achieving food self-sufficiency, with the decline in food production and economic factors playing crucial roles in the increasing dependence on food imports.
Statistics on Food importation in Nigeria
As of 2024, Nigeria’s food importation statistics reflect a significant increase despite efforts to boost local production:
- Overall Food Imports: According to the foreign trade report by the National Bureau of Statistics (NBS), Nigeria’s food and beverage import bill rose by 30% in Q1 2024, reaching N1.59 trillion. This includes both primary and processed food and beverage imports.
- Primary Food Imports: This report also states that for the first quarter of 2024, primary food imports for household consumption and industries amounted to N726 billion, with household consumption at N186.6 billion and industries at N540.1 billion. This category saw a substantial increase from the previous year.
- Processed Food Imports: The processed food and beverage import bill stood at N865 billion in Q1 2024, marking a 137% increase compared to the same period in 2023. This category includes significant imports for industries and household consumption.
- Annual Import Figures: In 2021, Nigeria spent N2 trillion on food imports, which was a 41% increase from the previous year. This trend has continued, with food imports hitting N3 trillion recently due to challenges like flooding and insecurity
- Impact of Exchange Rates: The depreciation of the naira has also affected the value of food imports. While the naira value of imports increased, the actual volume might have declined due to higher costs driven by the weaker currency.
These statistics portray the increasing dependence on food imports.
Assetrise’s Role in Addressing Food Insecurity
Assetrise Limited is at the forefront of mitigating food insecurity in Nigeria through innovative agro-real estate projects that combine agriculture with real estate development. Here are some key initiatives spearheaded by Assetrise:
- The Eko Yams Project: Assetrise Limited, in collaboration with the International Institute of Tropical Agriculture (IITA) and the Flap Multipurpose Co-Operative Society, has successfully produced over one million tubers in its initial phases, the ongoing Eko Yams 3.0 targets the cultivation of more than five million tubers in Lagos. By focusing on large-scale yam production, Assetrise is helping to increase the availability of this staple food also providing employment opportunities and promoting sustainable agricultural practices. This project not only addresses the high demand for food but also leverages modern farming techniques to boost indigenous food production, enhancing food security.
- Smart Agropreneurship Project (SAP): The Smart Agropreneurship Project (SAP) is another significant initiative by Assetrise, in partnership with the Federal University of Agriculture, Abeokuta (FUNAAB), and Flap Cooperative Society. SAP is designed to empower young entrepreneurs in the agricultural sector. By providing training, resources, and support, Assetrise is fostering a new generation of agropreneurs, who are equipped to boost local food production. SAP aims to ensure a steady food supply while creating jobs and increasing agricultural output.
Dr. Adesina’s call to action underscores the need for Nigeria to boost its agricultural productivity and reduce dependence on food imports. Assetrise Limited’s proactive approach with agro real estate, through projects like Eko Yams and SAP, aligns with this vision, aiming to enhance food security, create jobs, and support sustainable agriculture. By investing in indigenous food production, Nigeria can stabilize food prices, strengthen the economy, and ensure more stable and resilient food systems.
