The International Monetary Fund (IMF), has warned that recent flooding being experienced in many states in Nigeria will worsen food insecurity and lead to further increases in prices of food commodities across the country.
The IMF raised the alarm yesterday during the analytical corner on “Climate Change and Food Insecurity in Sub-Saharan Africa,” at the kick-off of the 2022 IMF/World Bank Annual Meetings in Washington DC, United States.
Already, food inflation in Nigeria surged 17-year high to 23.12% in August year-on-year. With floods submerging many farmlands across Benue, Kogi, Nasarawa, Anambra, Rivers and a host of other states, therefore raises further concerns on food security.
Highlighting the impact of flooding, Mai Farid, of the African Department at the IMF, 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, the floods have affected some of the transportation networks, which make it even harder for food to be transferred into the country or even out in any essence storage.
“So we do recognise that these are incredibly difficult contexts to address. However, as we mentioned, our work actually does point towards establishing a telecommunications system that gives farmers the ability to be aware of an upcoming change forecast that would kind of predict a flood or, or a drought, all those things will help them prepare and be some kind of an ex ante preparedness approach.”
…in terms of the supply of agricultural production; it is going to drop which will put even further pressure on prices. And in addition, the floods have affected some of the transportation networks, which make it even harder for food to be transferred into the country or even out in any essence storage.
Noting that Nigeria and other countries in sub-Saharan Africa are the most food insecure and the region most vulnerable to climate change and yet the least prepared to pay, Farid said there is a need for governments to invest in early warning system technology and climate-resilient infrastructure.
She said: “Rebuilding better is something that countries need to take into account since climate change is not going anywhere, and as we mentioned, is inevitable. And therefore making sure that infrastructure is climate resilient, that you are able to actually withstand that next shock.
“Flood barriers come to mind given the countries that we mentioned, these are expensive and this is where more efficient expenditure as well as making sure that you have platforms to perhaps attract climate finance.”
According to her, food insecurity in Africa has been rising faster than in the rest of the world, adding that “over the past decade, you can see a persistent deterioration in sub-Saharan Africa’s fixed Security Index. This is partly due to pressures from rapid population growth. Recurring and intensifying natural disasters and lack of resilience.”
Also speaking, John Spray of the Asia and Pacific Department at the IMF, called for social assistance to cushion the impact of floods and food insecurity on the people.
He said: “One thing our model tells us is that there can be permanent effects and short term shocks. And so getting food and cash early to people, 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.”
