FAO: 9.8 million people in FCT, 16 northern states battling hunger – Newstrends
Connect with us

Business

FAO: 9.8 million people in FCT, 16 northern states battling hunger

Published

on

An agency of the United Nations, Food and Agriculture Organisation says at least 9. 8 million people living in 15 northern Nigerian states and the Federal Capital Territory (FCT) are suffering from food insecurity.

It said the findings were the outcome of a food analysis made available on Thursday.

It specifically stated that Abuja, Borno, Adamawa, Yobe, Benue, Gombe, Taraba, Katsina, Jigawa states were struggling with food insecurity and malnutrition.

Others are “Kano, Bauchi, Plateau, Kaduna, Kebbi, Sokoto, Niger and the FCT,” it stated.

Speaking at the presentation of the analysis, the FAO Representative in Nigeria and the ECOWAS, Fred Kafeero, said the results of the analysis had exposed the need for urgent intervention by the government.

“The presentation of the results of the October/November 2020 Cadre Harmonise (CH) analysis for the 16 states and the Federal Capital Territory of Nigeria is such an important stage in determining our next actions and effective response In ensuring food security and nutrition in the country.

“The Cadre Harmonlse or CH (as is popularly called) is a regional framework for the consensual analysis of acute food and nutrition insecurity situations across West African countries through these framework areas of risk of mal-and undernourishment and the food insecure populations are identified.”

He said, “The exercise, which has now been adopted by the Nigeria Food Security stakeholders since 2015 aims at applying the outcome of the analysis in preventing food crisis by identifying the areas affected and the populations as well as proffering appropriate measures towards improved food and nutrition security and livelihoods.

“Distinguished guests, ladies and gentlemen, I am pleased to inform you that the CH analysis results in Nigeria have become the major yardstick for estimating the areas and population of vulnerable people in need of humanitarian assistance as presented in the annual Humanitarian Needs Overviews (HNOs) and the Humanitarian Response Plans (HRPs) especially in the three BAY states of NE.

“This October/November 2020 CH analysis happens to be different from the previous years, as it took Into consideration the unprecedented impact of the COVID -19 pandemic on the various outcomes of FNS and the inference of the various FNS contributing factors.

“Despite the relaxation of the COVlD-19 lockdown measures, several households are still currently experiencing difficulties in accessing their basic food and nonfood needs due to disrupted livelihoods. This has resulted in reduced HHs opportunities for income and food and nutrition security.”

The result of the analysis also projects that 13.9 million people may suffer from food insecurity from the affected states in 2021.

Kafeero explained further that “in this context, FAO and partners have adapted their programme to respond to the Increased need. For the 2020 rainy season In NE, FAO reached 63,300 HH with quality seeds and fertilizers distribution.

“Another 12,000 HH have been reached with livestock support. We are planning to reach about 19,000 HH for the upcoming dry season in collaboration with the FMARD, WFP and IFAD.

“The exercise, which has now been adopted by the Nigeria Food Security stakeholders since 2015 aims at applying the outcome of the analysis in preventing food crisis by identifying the areas affected and the populations as well as proffering appropriate measures towards improved food and nutrition security and livelihoods.”

Business

Breaking: Dangote brings diesel price down to N1000/litre

Published

on

Breaking: Dangote brings diesel price down to N1000/litre

Dangote Petroleum Refinery has announced a further reduction in the price of diesel.

When it commenced operation a few weeks ago, Dangote Petroleum Refinery pegged the price of diesel as N1,200.

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 percent reduction from the previous market price of about N1,600 per litre.

READ ALSO:

However, on Tuesday, a further reduction of N200 was noticed in the price, with the product now pegged at N1,000.

This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

The President of Dangote Group, Aliko Dangote, had during the Eid-el-Fitr celebration said if the cost price of diesel comes down, the inflation rate will be substantially reduced.

Dangote spoke when he visited President Bola Tinubu in his residence in Lagos State to celebrate the end of the Ramadan fast with him.

Breaking: Dangote brings diesel price down to N1000/litre

Continue Reading

Business

Naira records five-month highest gain, sells below N1000/$ at parallel market

Published

on

Naira records five-month highest gain, sells below N1000/$ at parallel market

The naira continued its positive showing against the United States dollar on Monday, selling below N1000/$ in some segments of the parallel market.

Newstrends reports that the Federal Government, groups and some individuals have mounted a spirited campaign for those hoarding the dollars to push them out as naira continues to appreciate.

On Monday, the naira was offered in some parts of Lagos and Abuja between N995 and N1,050 per dollar in the parallel market. It was N1,230/$ on Friday.
The latest gain, being over five-month highs, came in the wake of the Iranian attack on Israel and a rise in the crude oil price.
Goldman Sachs, American investment bank economists, had earlier predicted that the naira’s bullish momentum on the foreign exchange market would likely cause it to trade for less than N1,000 per US dollar in the coming months.
According to a report by Nairametrics, the group claimed that the rally in Nigerian currency helped recover from large losses after two devaluations since last June by being bolstered by capital inflows and successive interest rate hikes.
In March, Goldman Sachs projected that the Naira would appreciate to N1,200 per dollar in 2024.

At the official foreign exchange market, the rate was put at N1,136/$ in contrast with N1,205/$ last Friday.

The top bank has implemented several policy initiatives in recent months to bring stability to the foreign exchange market.
The CBN increased interest rates to 24.75% at the most recent meeting of the Monetary Policy Committee (MPC), which helped it recover losses from the two devaluations that occurred since June of last year.
Further gains for the naira result from the CBN’s ongoing intervention, which involves selling foreign exchange to Bureau De Change operators at a revised rate.
The market anticipates higher inflows of US dollars from the sale of foreign currency bonds in the second quarter as disclosed by Finance Minister Wale Edun.

The Federal Government has just offered high-yield short-term debt products at a premium to entice overseas capital into the economy.

The Middle East’s geopolitical unrest and
Notwithstanding a drop in Nigeria’s production volume, crude oil prices have risen beyond $90.

Nigerian grades of oil are trading at a premium to the ICE Brent benchmark.

The Middle East’s geopolitical unrest and the anticipation of an Iranian government strike on Israel caused oil prices to soar.

Continue Reading

Business

Breaking: Nigeria’s inflation rises to 33.2%, says NBS

Published

on

Breaking: Nigeria’s inflation rises to 33.2%, says NBS

The National Bureau of Statistics (NBS) says the nation’s inflation rate rose to 33.2 per cent for the month of March 2024.

This represents a 1.5 per cent increase over 32.7 per cent recorded in February 2024.

The NBS disclosed this in a new report released on Monday.

It explained that the rise was primarily due to higher costs of food, beverages, energy, and housing. Compared to February 2024, the inflation rate in March increased at a slower pace, with food inflation reaching 40.01% year-on-year.

NBS attributed the spike in food prices to the rising costs of items like garri, millet, yam tubers, and others. On a month-on-month basis, food inflation slightly decreased to 3.62% in March 2024.

Urban inflation also increased to 35.18% year-on-year in March 2024, while rural inflation stood at 31.45%.

Core inflation, which excludes volatile agricultural products and energy, was 25.90% year-on-year in March 2024.

Overall, the rising cost of living in Nigeria is evident in the significant increase in inflation rates across different categories.

It is crucial for policymakers to address these challenges to alleviate the financial burden on the population.

Continue Reading

Trending

Skip to content