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The Lagos Food Bank is a crucial lifeline to residents like Salami, but has seen supplies from private and other donors fall as inflation soars in Africa's biggest economy. Nigeria food banks cut ...
The Food and Agriculture Organization (FAO) Food Price Index 1961–2021 in nominal and real terms. The Real Price Index is the Nominal Price Index deflated by the World Bank Manufactures Unit Value Index (MUV). Years 2014–2016 is 100. Food prices refer to the average price level for food across countries, regions and on a global scale. [1]
Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary-Khamis dollars. The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors.
In May 2022, inflation grew to 17.7 percent, creating new economic and social concerns, particularly among the over 40 percent of the Nigerian population that live below the poverty line and face severe food insecurity. [10]
Nigeria is the most populous country in Africa; a residence for more than 206 million people. [1] Hunger is one of the major issues that affect the citizens. 40% (82 million people) of the citizens live below the International Poverty Line of $1.90 daily, whilst another 25% are vulnerable.
"The index for all items less food and energy rose 3.3% over the past 12 months," the Bureau of Labor report said. "The shelter index increased 4.9% over the last year, accounting for over 65% of ...
Nigeria’s Agricultural Import Bill surged 30% to N920 billion in Q1 2024, underscoring the nation's growing reliance on imported agricultural products like wheat and essential foods to meet consumer demand, which domestic farming struggles to satisfy. Nigeria's imported food inflation grew to over 36.38% in June 2024 according to reports. [23]
In 2022, the world experienced significant food price inflation along with major food shortages in several regions. Sub-Saharan Africa, Iran, Sri Lanka, Sudan and Iraq were most affected. [68] [69] [70] Prices of wheat, maize, oil seeds, bread, pasta, flour, cooking oil, sugar, egg, chickpea and meat increased.