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How Flooding will worsen food insecurity, inflation in Nigeria – IMF warns

The International Monetary Fund has warned that recent flooding in some Nigerian states will exacerbate food insecurity and lead to a rise in food prices throughout the country.Infomation Guide Nigeria

During the analytical discussion on “Climate Change and Food Insecurity in Sub-Saharan Africa,” IMF’s African Department’s Mai Farid issued the following warning.

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The potential economic impact of flooding in Nigeria’s Benue, Kogi, and Anambra states is discussed.

Farid said: “We are very cognizant of the challenge that the flood of that magnitude and how it affected Nigeria in neighbouring countries. We also recognise Chad and Cameroon have also been hit. And absolutely, you’re totally right in terms of the supply of agricultural production, it is going to drop which will put even further pressure on prices. And in addition, it the floods have affected some of the transportation networks which means makes it even harder for food to transfer into the country or even out in any essence storage.”

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Noting that Nigeria and other nations in sub-Saharan Africa are the most food insecure region, as well as the most vulnerable to climate change, but the least prepared to pay, Farid stated that governments must invest in climate-resilient early warning system technology and infrastructure.

John Spray, of the IMF’s Asia and Pacific Department, emphasised the need for social support to mitigate the effects of flooding and food shortages on the population.

He said, “One thing our model tells us is that there can be permanent effects and short term shocks. And so getting people to food and cash early, getting that social assistance out to people can have a really big impact in the long run. So there’s a kind of urgency where we think it’s important that when there is a shock that people can get access to food. They don’t have to take more drastic measures, pulling children out of school or sacrificing other assets.”Jamb Result