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‘Over 140 Million People In Nigeria, Other Sub-Saharan Nations Facing Acute Food Insecurity’




Nigeria’s Inflation May Hit 16.1% In 2022 – IMF

The International Monetary Fund (IMF) on Friday revealed that over 140 million people from Nigeria, and other Sub-Saharan African nations faced acute food insecurity in 2023.

In its regional economic outlook for Sub-Saharan Africa, released on Friday, the global financial institution disclosed that food insecurity remains a key challenge in the region.

Naija News reports that the IMF further detailed that a significant number of those facing food insecurity were in DR Congo and Nigeria.

It further disclosed that the governments of Sub-Saharan African nations were having difficulties addressing the challenge because of the limited fiscal space.


“Beyond health, education, and infrastructure, food insecurity remains a key challenge in the region. As of 2023, an estimated 140 million people across the region, including a significant number in the Democratic Republic of the Congo and Nigeria, are grappling with acute food insecurity, with policymakers facing constraints in their ability to respond effectively given limited fiscal space,” the report read.

The IMF report comes as Nigerians continue to grapple with the high cost of food items as inflation continues to soar. In March, the country’s inflation rate surged further, hitting 33.20 per cent.

However experts have continued to project that the nation’s inflation rate will drop as the country experienced a significant rise in the value of the naira in recent weeks.