World Food Program Temporarily Halts Local Food Purchases in Nigeria Awaiting Price Stabilization.
The United Nations World Food Program (WFP) has announced a strategic pause in its procurement of local food supplies in Nigeria, citing the need for market stabilization before resuming purchases. This decision comes after a detailed review of food price trends in key regions, highlighting the organization’s adaptive approach to supporting food security in Nigeria.
In a recent press release, the WFP shared insights from its monitoring activities in Borno, Yobe, and Kano states, which showcased a significant rise in food prices. This inflation exacerbates the challenges faced by displaced communities, especially those hindered from agricultural activities, thereby escalating the food security crisis in Nigeria.
David Stevenson, the WFP’s Country Director and Representative in Nigeria, emphasized the organization’s current stock limitations. “Our commitment to supporting the most vulnerable populations in Nigeria remains unwavering, despite the challenges presented by market fluctuations. We are conducting a thorough review of our procurement strategies to ensure our interventions are both timely and efficient,” Stevenson stated. He also addressed misconceptions about food storage, clarifying, “Contrary to what some traders might suggest, the WFP’s food reserves are earmarked exclusively for critical assistance programs.”
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The WFP aims to expand its reach from 1.1 million individuals to 1.6 million during the critical ‘lean season’ between June and August, underscoring the urgency of addressing the food security crisis in Nigeria.
Background Context
Earlier reports by Nairametrics highlighted the impact of soaring food prices on grain purchases by major food producers like Olam Agric and Nigeria Flour Mills, pointing to a broader economic trend that affects food availability and affordability across Nigeria. The World Bank’s Food Security Update has forecasted a severe food crisis in seven Northern states, a prediction echoed by the Food and Agricultural Organization (FAO) with an alarming figure of 26.5 million Nigerians at risk of hunger in 2024.
The escalating food prices have significantly reduced the purchasing power of numerous Nigerian households, particularly in the Northeast, plagued by conflict. In response, the federal government has initiated the release of grains from the national reserve, aiming to mitigate the impact of these price hikes and improve food accessibility for its citizens.
This strategic shift by the WFP, coupled with government interventions, highlights the multifaceted efforts underway to stabilize food prices in Nigeria and address the looming food security crisis, ensuring that the most vulnerable communities receive the support they need during these challenging times.
