• About Us
  • Contact Us
  • Privacy & Policy
Thursday, May 15, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Nigeria’s Food Inflation Hits Record High, 40.66% in May 2024

Vincent Amadi by Vincent Amadi
July 6, 2024
in Economy
Reading Time: 3 mins read
A A
0
Nigeria’s Food Inflation Hits Record High, 40.66% in May 2024
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


As food crises continue in Nigeria, the United Nations has again projected that 82 million Nigerians, or about 64 percent of the country’s population, could face hunger by 2030.
At the same time, they called on the Federal Government to combat climate change, pest infestations, and other threats to agricultural productivity. Journalists reported that the projection comes amid continued food price increases in the country. According to the National Bureau of Statistics (NBS), Nigeria’s food inflation rate will hit a record high of 40.66 percent in May 2024, up from the previous month’s increase of 40.53 percent.
The increase marks the largest year-on-year increase in food prices since records began in 1996. Historically, Nigeria’s average food inflation rate has been 13.42 percent, with the lowest level being -17.50 percent in January 2000.


The United States Food and Agriculture Organization projected that as many as 2.6 million Nigerians will live in Borno, Sokoto state in 2023. Zamfara state and the FCT could face a food crisis between June and August 2024.

An analysis released in March 2024 by the government-run Cadre Harmonisé estimated that about 4.8 million people in Borno, Adamawa, and Yobe states suffer from severe food insecurity, the highest level in seven years.
As Nigerian workers approach May 1, 2024, the Organized Labour Congress expressed concern over rising food prices and fuel shortages in the country, saying the current situation is threatening the survival of workers.
A senior Nigerian lawyer, Olisa Agbakoba, also recently warned that food riots could soon erupt in Nigeria and called on the Federal Government to act swiftly.

The UN Food and Agriculture Organisation Humanitarian Coordinator, represented by a UN official, Taofik Braimoh, stated this at the launch of the CropWatch food security survey in Abuja recently.
“This year’s findings are alarming: About 22 million Nigerians will be food insecure in 2023, and about 80 to 82 million will be severely food insecure by 2030.”
“Nigeria, like many other countries, suffers from food insecurity, climate change, unstable water supplies, pest infestations and other threats to agricultural productivity.”
“As an agricultural society, the success of farms directly impacts the availability of food to its people. Harnessing technology is crucial to strengthening the agricultural sector and ensuring food security. He stressed that satellite-based crop monitoring will provide real-time data on crop conditions, enabling farmers and policymakers to make informed decisions and optimize agricultural practices.”
He said that technology could help accelerate the achievement of the Sustainable Development Goals in the food and agriculture sector.
Agricultural Economist Tobi Awolope of the Centre for Agricultural Development and Sustainable Environment, Federal University of Agriculture, Abeokuta, noted that Nigeria’s high hunger rate is due to climate change, severely affecting smallholder farmers who are the main players in food production.

Awolope, who spoke with our correspondent on Friday, noted that these farmers have little capacity to adapt to the effects of climate change, such as erratic rainfall patterns and lack of irrigation.
“Climate change has reversed progress towards achieving Sustainable Development Goals 1 and 2, which aim to eradicate poverty and hunger.
“Smallholder farmers are struggling to adapt to climate change, which has led to reduced food availability and higher prices,” she said.
She stressed the need for government support for farmers, including by providing subsidies on inputs and technology and irrigation assistance. “Farmers alone cannot mitigate the effects of climate change. Governments must step in and support them to ensure food security,” she said.
Aworope also stressed the importance of using the research recommendations to inform policy decisions, saying “We need to use these recommendations to make informed decisions that support farmers and ensure food availability.”
The Director General of the National Space Research and Development Agency, Dr. Adepoju Mathew emphasized the Importance of Science, Technology, and Innovation in Promoting Agricultural Development and Food Security.
“The world population is expected to reach 9.5 billion by 2050, and food production will need to increase by 70% to meet this demand. Space science, technology, and innovation have a key role to play in transforming agriculture and improving food security,” he added.

Tags: businessnigeria
Vincent Amadi

Vincent Amadi

Related Posts

Seplat reveals interest in well revival and more output target
Economy

Seplat reveals interest in well revival and more output target

7 hours ago
‘Nigeria First’ Policy: FG Projects ₦3trn Contribution To Economy 
Economy

‘Nigeria First’ Policy: FG Projects ₦3trn Contribution To Economy 

2 days ago
Farmers in South-South region bemoan lack of government support
Economy

Farmers in South-South region bemoan lack of government support

3 days ago
Stock market records 34 gainers, 33 losers and N313billion decline 
Economy

Stock market records 34 gainers, 33 losers and N313billion decline 

5 days ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Registrars bemoan poor global ranking of Nigerian universities
National

Registrars bemoan poor global ranking of Nigerian universities

7 hours ago
Governors support Tinubu’s harsh reforms amid raging hardship
National

Governors support Tinubu’s harsh reforms amid raging hardship

7 hours ago
UTME Glitch : Human Right Lawyer Sues JAMB, Minister In N10bn Suit 
National

UTME Glitch : Human Right Lawyer Sues JAMB, Minister In N10bn Suit 

7 hours ago
Despite Abundance, Zamfara Earns Nothing From Solid Minerals – Gov Lawal laments
National

Despite Abundance, Zamfara Earns Nothing From Solid Minerals – Gov Lawal laments

9 hours ago
Mass Failure: Law Firms Asks JAMB To Release Questions, Answers Of 1.5 Million Candidates
National

Reactions As JAMB Registrar Fights Tears, Apologises For Errors In 2025 UTME

9 hours ago
Reps demand explanation over rescue truck accident in Abuja
National

Reps demand explanation over rescue truck accident in Abuja

1 day ago

POLITICS

Oshiomhole Drags Atiku, Says He Is Better Placed To Write About Defection

Oshiomhole Drags Atiku, Says He Is Better Placed To Write About Defection

1 day ago
2027: Tinubu’s Second Term Bid Non-Negotiable – Okpebholo 

2027: Tinubu’s Second Term Bid Non-Negotiable – Okpebholo 

1 day ago
Wike: PDP will soon implode

Wike: PDP will soon implode

2 days ago
2027: Atiku has the right to contest for President again – PDP Chieftain

2027: Atiku has the right to contest for President again – PDP Chieftain

3 days ago
Protest erupts over imposition of candidates across LCDAs at Lagos APC primary 

Protest erupts over imposition of candidates across LCDAs at Lagos APC primary 

4 days ago
More Dilemma For PDP As Three Kebbi Senators Defect To APC

More Dilemma For PDP As Three Kebbi Senators Defect To APC

4 days ago

YOUR ECONOMY

Seplat reveals interest in well revival and more output target
Economy

Seplat reveals interest in well revival and more output target

7 hours ago
‘Nigeria First’ Policy: FG Projects ₦3trn Contribution To Economy 
Economy

‘Nigeria First’ Policy: FG Projects ₦3trn Contribution To Economy 

2 days ago
Farmers in South-South region bemoan lack of government support
Economy

Farmers in South-South region bemoan lack of government support

3 days ago
Stock market records 34 gainers, 33 losers and N313billion decline 
Economy

Stock market records 34 gainers, 33 losers and N313billion decline 

5 days ago
PETROAN applauds Tinubu’s ban on foreign products importation 
Economy

PETROAN applauds Tinubu’s ban on foreign products importation 

1 week ago
 IMF Urges Nigeria to Increase Tax Revenue Base
Economy

 IMF Urges Nigeria to Increase Tax Revenue Base

3 weeks ago

E & P

Super Eagles Star Striker, Taiwo Awoniyi Out Of Coma – Media Sources
Sports

Super Eagles Star Striker, Taiwo Awoniyi Out Of Coma – Media Sources

by Emmanuel Ademola
9 hours ago
0

Media sources have reported that Nottingham Forest's striker, Taiwo Awoniyi,  has regained consciousness after an induced coma following urgent surgery...

Awoniyi Rushed To Hospital For Abdominal Surgery After Goal Post Collision 

Awoniyi Rushed To Hospital For Abdominal Surgery After Goal Post Collision 

2 days ago
11th AMVCA: Femi Adebayo’s ‘Seven Doors’ Sweeps  Top Honours

11th AMVCA: Femi Adebayo’s ‘Seven Doors’ Sweeps  Top Honours

4 days ago
It’s the toughest season of my career, says Pep Guardiola of Man City

It’s the toughest season of my career, says Pep Guardiola of Man City

5 days ago
Man Utd Ease Past Athletic Bilbao To Set Up An All English Finals With Spurs 

Man Utd Ease Past Athletic Bilbao To Set Up An All English Finals With Spurs 

6 days ago
Naira Abuse/money laundering: Socialite E-Money lands in EFCC net.

Naira Abuse/money laundering: Socialite E-Money lands in EFCC net.

2 weeks ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
3 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
4 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
5 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
5 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
5 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports

Recent News

Registrars bemoan poor global ranking of Nigerian universities

Registrars bemoan poor global ranking of Nigerian universities

May 15, 2025
Seplat reveals interest in well revival and more output target

Seplat reveals interest in well revival and more output target

May 15, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address