{"id":6876,"date":"2021-03-31T16:47:59","date_gmt":"2021-03-31T15:47:59","guid":{"rendered":"https:\/\/daviral.ng\/news\/?p=6876"},"modified":"2021-03-31T16:52:22","modified_gmt":"2021-03-31T15:52:22","slug":"nigerians-battle-with-double-cost-of-food","status":"publish","type":"post","link":"https:\/\/daviral.net\/news\/nigerians-battle-with-double-cost-of-food\/","title":{"rendered":"Nigerians Battle with Double Cost of Food"},"content":{"rendered":"

Nigerians battle from double cost of food within one year has caused cocern. The prices of staple food from rice, fish, yam, maize, etc doubled in the last one year. As a matter of fact, Nigeria unemployment rate is ranked the second-highest the second-highest in the world.<\/p>\n

\"Double
Nigerians battle with double cost of food<\/figcaption><\/figure>\n

The unprecedented rise in the cost of staple foods and consumables is astonishing, obtaining a three square meal these days, is now a luxury many cannot afford.<\/p>\n

No doubt, Coronavirus<\/a> has an adverse effect on everything including staple food. Early last year, the prices of Fast Moving Consumer Goods (FMCG) and produce, especially, were relatively cheap and affordable. However, the pandemic led to lockdown and restriction in travelling which equally means less mobility and production of food.<\/p>\n

Economically, there is a continuous downward drift which means the inflation rate keeps on rising.
\nFirstly, the hike in price were recorded on Pharmaceutical products, catering, transport equipment, air transport, water supply, household appliances and equipment, vehicle spare parts and vehicle maintenance, durable and non-durable household goods.<\/p>\n

Several states recorded the highest rate of inflation like Bauchi, Rivers, Sokoto, Kwara, Abuja and Edo state accordingly. The inflation in the cost of food also mean Naira value decreased. Experts have predicted that inflation rate would still rise beyond 12.3 percent as the pandemic is discouraging investors globally, especially in Nigeria.<\/p>\n

According to Professor of Economics and Public Policy<\/strong>:<\/p>\n

Households and their families should not spend more than 20 percent of their income on food. The solution is to empower farmers to produce more using recent and available technology; for now food production depends on nature, that is, rainfall and increased acreage. It would be suicidal to import basic foods in an economy with so much arable land. The key is production, production and production.<\/p><\/blockquote>\n

He also added that the key drivers of food inflation include the security challenges faced by many farming communities across the country, adding that transportation cost, the climate change effect, productivity issues in agriculture and the paucity of commercial agriculture in the country and cost of farm inputs attributed to food inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerians battle from double cost of food within one year has caused cocern. The prices of staple food from rice, fish, yam, maize, etc doubled in the last one year. As a matter of fact, Nigeria unemployment rate is ranked the second-highest the second-highest in the world. The unprecedented rise in the cost of staple […] More<\/a><\/p>\n","protected":false},"author":16,"featured_media":6878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,123],"tags":[149,201,202],"reaction":[],"adace-sponsor":[],"class_list":{"0":"post-6876","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-local","9":"tag-covid-19","10":"tag-food","11":"tag-inflation"},"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/posts\/6876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/comments?post=6876"}],"version-history":[{"count":0,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/posts\/6876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/media\/6878"}],"wp:attachment":[{"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/media?parent=6876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/categories?post=6876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/tags?post=6876"},{"taxonomy":"reaction","embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/reaction?post=6876"},{"taxonomy":"adace-sponsor","embeddable":true,"href":"https:\/\/daviral.net\/news\/wp-json\/wp\/v2\/adace-sponsor?post=6876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}