WFP reviews local food procurement as market prices skyrocket in Nigeria

WFP

 

By JOY ADARA, Abuja –

Amid rising inflation and high food prices exacerbated by market speculations, the United Nations World Food Programme (WFP) has announced it is reviewing its local food procurement and will buy food in Nigeria only in stable market conditions.

Recalled that last week, a WFP monitoring mission in Borno, Yobe, and Kano states confirmed unprecedented inflation rates, and high food price rises caused by market speculations. This poses significant challenges for Nigerians, particularly those who are displaced, are unable to farm, and are dependent on markets to access food.

“We are aware of traders holding food in their warehouses pretending it is WFP’s. This is inaccurate as WFP has its limited stock available to continue supporting the most vulnerable Nigerians with critical assistance,” said David Stevenson, WFP’s Country Director and Representative in Nigeria.

“We are undertaking a comprehensive review of our local food procurement. WFP will purchase food in Nigeria only when the market conditions are stable for all,” Stevenson added.

High rates of inflation and soaring market prices have eroded the purchasing power of many Nigerian families, especially those in the conflict-affected Northeast Nigeria. The November 2023 Cadre

Harmonisé food security analysis projected that up to 4.4 million people in the northeast states of Borno, Adamawa and Yobe will require food assistance during the June-August 2024 lean season, with over 1 million people facing emergency levels of hunger (IPC/CH phase 4).

In 2024, WFP is planning to reach 1.1 million vulnerable people with food and nutrition assistance in Nigeria. In the June–August lean season, when hunger is most acute, WFP will increase its support to reach 1.6 million people a month – dependent on available funding.

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