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Nigeria’s Food Shortage Reaches 5.7 Million Metric Tonnes – AFEX

As food prices continue to soar unabatedly and harrowing hunger frustrating Nigerians, AFEX, weekend, reported that Nigeria’s food shortage reaches 5.7 million metric tonnes.
AFEX being one of Africa’s leading commodities made this known during the unveil of its 2023 Crop Production Report in an hybrid event.
The report highlighted major factors as causes of food shortage in Nigeria, which had pushed the country to 109th out of 125 countries as indicated on Global Hunger Index, and described it as alarmingly high, indicating a severe food security crisis.
The report highlighted food insecurity and food inflation as a major challenge for Nigeria, with a 5.7 million metric ton shortage across human consumption and agro processing, and a historic high food inflation rate of 30.64%.
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The report noted that as food prices continue to surge, as witnessed in the 2023 season, food security challenges will continue to persist, further reducing the continent’s capacity to achieve Zero hunger by 2030.
The report highlights a critical improvement in access to farmland for cultivation in crucial areas.
According to the report, there is an increase in the usage of improved inputs, such as high-yielding seeds and fertilizers, compared to last season, which contributed to Maize and Paddy rice being forecasted to have a significantly higher production this season.
However, input lending remains a major challenge today, with agriculture making only 6.16% of bank lending in 2022.
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The President/CEO of AFEX Nigeria, Akinyinka Akintunde, speaking during the launch of the report said: “This year, we nearly doubled our sample size from 20,677 to 39,091 to get an accurate reflection of the current state of Agriculture production, and we found that we must take extra care to prioritize improvement in agricultural productivity for these farmers, and this is hinged on investing in the sector, and solving for infrastructure, logistics, and technology gaps.
“This transformation will substantially enhance food self-sufficiency and increase our ability to meet the nutritional and food security needs of a growing population while also bolstering the economy through foreign exchange earnings.”
“A recurring limitation for agriculture on the continent is a shortage of reliable data, which affects the availability of transparent pricing and limits, on one hand, participation from the side of capital market operators and largely financial market players and on the other hand, farmers’ ability to negotiate equitable contracts for themselves.
“This report attempts to build that gap by building a reliable data bank to promote market education and facilitate accurate trading decisions.”
However, the report forecasts higher prices for Paddy rice, Soybean, Sorghum, Cocoa, and Sesame.
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On pricing, the report forecasts an increase in prices for all commodities on the basis of a general decline in production coupled with increasing demand for across processing and exports.
Paddy Rice which faced the most notable upswing in 2022/2023, partly due to increased flooding and the India rice ban that contributed to an increase of 34% and a baseline pricing of NGN353,000/mt, which is expected to rise to NGN400,000/mt and projected to stabilize at NGN480,GN500,000/mt by Q3 2023.
Meanwhile, the six key commodities (Maize, Paddy rice, Soybean, Sorghum, Cocoa, and Sesame), which leveraged on farmer surveys and measurement of transaction-level data to track vital information across crop production, price performance, and market dynamics.
The report will aid the understanding of the current food system while providing stakeholders’ in the commodities market with intel to make data-driven trading decisions in the coming season.
AFEX is a platform business that enables efficient trade for commodities in Africa. Solutions start at the producer level, ensuring improvement in productivity and livelihoods while building up commodity volumes in the right quality and quantity for local and regional trade.
VANGUARD
News
Edo Expresses Commitment To Ease Of Doing Business

The Edo State government has expressed commitment to providing the enabling environment for businesses to thrive in the state.
The state Deputy Governor, Hon. Dennis Idahosa, gave the assurance after a closed door meeting with representatives of Pan Ocean Oil Corporation Nigeria Limited, NewCross Exploration and Production Limited in Benin.
The deputy governor, who served as chairman of the state boundary committee, noted that this is in line with the Renewed Hope Agenda of President Bola Tinubu and the SHINE Agenda of Governor Monday Okpebholo.
Idahosa, who said “it is part of the state’s strategy to create employment opportunities,” pointed out that it is in line with Governor Monday Okpebholo economic drive to turn the state into an investor friendly one.
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He also emphasised meed to resolve the lingering disputes, saying the boundary committee is proactively looking into and settling areas of concern regarding the issue.
“All communities that are in the boundary line between Edo and Delta States where there are communal disputes, we want to assure them that we are doing everything within our power, using diplomatic and democratic means to make sure this is resolved amicably,” he assured.
The deputy governor noted that under the SHINE Agenda of this administration, much has been done in the area of infrastructural development.
READ ALSO:Okpebholo’s One Year Performance Outshines Some governors’ 8 Yrs, Says Idahosa
“This has made it possible to access roads to major companies, communities, and, ensuring the security of life and properties across the state by investing aggressively in security,” he stated.
On the outcome of the robust interface with the oil workers, Idahosa said through deliberations at the meeting, both parties successfully forged a headway.
He said this has resorted to the invitation of the Edo State Boundary Committee for an on the spot inspection of operation sites in Orhionmwon Local Government Area of the state.
He called on investors and multinational companies operating in Edo State to go about their businesses with ease as the Okpebholo led administration is investment friendly.
News
Imansuangbon Donates To Benin IDPs, Charges Wealthy Nigerians To Advance Humanity

Politician and philanthropist, Barr. Kenneth Imansuangbon on Wednesday charged political office holders and well-to-do Nigerians to use their position and wealth to advance humanity.
Imansuangbon gave the charge when he visited Internally Displaced Persons (IDPs)housed by Home for the Needy Foundation, Benin, where he donated food items, drinks, cash, toiletries, etc to the children and women as part of his Christmas gifts to them.
Recall that last month the IDPs lamented hardship caused by the economic situation of the country, saying due to the economic hardship, a single meal where they used to cook 15 bags of rice has been reduced to 5.
Rising to the occasion, the philanthropist said his love for humanity and in accordance with the teaching of the Holy Book drove him to give to the needy annually, adding that he has been doing it for the past 20 years.

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Imansuangbon, who expressed displeasure over the current happenings in the country, said: “If the country is really working we will not find ourselves in this kind of situation. This is an embarrassment to the giant of Africa.”
“If we teach ourselves love and humanity, then the country will be safer and better for everyone
“We are just a tool in the hand of God Almighty. Anywhere God has placed you, use it to advance humanity. You are in government? Get it at the back of your mind that you are not the first person to occupy the position, and you are not going to be the last.
“The way our country is today, I am not satisfied, this goes beyond Mr. President or the Senators, it is about realising that We all need to save our country. If the country is really working, we will not find ourselves in this kind of situation. This is an embarrassment to the giant of Africa.”

READ ALSO:Imansuangbon Donates Food Items IDP In Edo, Sues For Honour For Humanitarian Workers
Imansuangbon, who is the proprietor of Pacesetter School, Abuja, expressed gratitude to students, staff members and parents of the school, saying the donations were from them.
“I’m here in Benin with the half of their donation. The children donated ₦1.5m cash, and I am here with the money. You can see these 70 bags of rice, 100 bags of noodles, bags of cane drinks, water, toiletry, etc, are from them. I am grateful to them for doing this for the past 20 years.”
He, therefore, appealed to Governor Monday Okpehbolo to extend the hand of fellowship to the IDPs particularly on Christmas day.
Responding, coordinator of the camp, Pastor Solomon Folorunsho, while appreciating the donor, said: “He does this regularly not because he is a politician but because of his love for humanity. He is one of the few that comes here anytime, not an electioneering period alone, but anytime we are in need. He has been showing his love for the children for years, so I thank him.”
Folorunsho used the occasion to appeal to well-to-do Nigerians to come and assist the IDPs, stressing that until Imansuangbon came they (IDPs) had nothing to “eat for today.”
News
27-year-old Man Dies Inside Deep Well In Ogbomoso

The corpse of a 27-year-old man identified as Alagbe Gbemisoye has been recovered from a deep well at Ire-Akari, Adeniran area of Ogbomoso, Oyo State.
His body was retrieved by officials of the Oyo State Fire Service after passersby alerted them to the incident.
The circumstances that led to the deceased falling into the well were still unclear as of the time of filing this report.
The Special Adviser to the Governor on Fire Reforms and Chairman, Fire Services, Moroof Akinwande, said his men were alerted by a running caller and Mr Ajayi Olayemi.
READ ALSO:Oyo: Properties Worth Millions Of Naira Destroyed As Fire Ravages Residential Buildings
“Fire personnel led by CFM Oladejo promptly deployed to the scene. On arrival, it was discovered that a man of about 27 years old, named Alagbe Gbemisoye, had fallen into a deep well. His body was recovered and handed over to the DPO, Owode Police Station,” he said.
Akinwande urged the public to always observe safety precautions in their daily activities and emphasised the importance of having fire extinguishers in their homes to prevent fire incidents.
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