NACCIMA warns food inflation at 40.87% untenable as youths plan mega protest beginning August 1
By Jeph Ajobaju, Chief Copy Editor
Food inflation currently at 40.87 per cent and growing may be a catalyst for more hunger protests across the country, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has warned Abuja.
NACIMMA President Dele Oye stressed the point in reaction to the latest release from the National Bureau of Statistics (NBS) on Consumer Price Index (CPI) and Inflation Report for June.
The NBS said headline inflation rose for the 18th month to 34.19 per cent and food inflation to 40.87 per cent.
Oye reiterated in a statement that “persistent insecurity, particularly in northern Nigeria, has severely disrupted farming activities. Many farmers have abandoned their farms due to threats from insurgents, bandits, and herders-farmers conflicts, leading to reduced agricultural output.”
He warned prolonged food inflation can cause social unrest and protests.
“It would also birth prolonged food inflation, which could lead to social unrest and protests, as people struggle to cope with the rising cost of essential commodities. Furthermore, poor nutrition due to unaffordable food prices can lead to long-term health issues, especially among children, pregnant women, and the elderly.”
Oye urged Abuja to deploy security to agricultural regions nationwide and the Central Bank (CBN) to implement policies to bring down inflationary pressures and invest in infrastructure.
“Investment in rural infrastructure, such as roads, storage facilities, and irrigation systems, is crucial to facilitate the efficient transportation and storage of agricultural produce.”
Youths are already warming up for a hunger protest countrywide for 10 days, beginning August 1, to build on similar protests that have taken place since last year.
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