{"id":70759,"date":"2022-08-23T10:35:48","date_gmt":"2022-08-23T08:35:48","guid":{"rendered":"https:\/\/radioislam.org.za\/a\/?p=70759"},"modified":"2022-08-23T10:35:48","modified_gmt":"2022-08-23T08:35:48","slug":"nigerians-facing-the-effects-of-rising-food-prices","status":"publish","type":"post","link":"https:\/\/radioislam.org.za\/a\/nigerians-facing-the-effects-of-rising-food-prices\/","title":{"rendered":"Nigerians facing the effects of rising food prices"},"content":{"rendered":"

Umamah Bakharia<\/p>\n

Nigeria is grappling with rising food prices, as reflected in the spike in inflation. The annual inflation rate accelerated for a sixth-consecutive month to 19.64% in July 2022, the highest rate since January 2017.<\/p>\n

Food prices have risen steadily in Nigeria for years due to climate change, the COVID-19 pandemic and widespread insecurity.<\/p>\n

Speaking to Radio Islam<\/strong><\/em>, Nigerian journalist Soloman Elusoji says the food crisis has affected Nigerians in their day-to-day activities.\u00a0<\/span><\/p>\n

“Food prices haven’t been this high in a decade,” he says. Prices became worse in February when Russia invaded Ukraine, affecting millions of citizens’ ability to meet their basic needs.<\/p>\n

“Nigeria imports a lot of its grain from Ukraine and Russia, so the blockage in those regions has contributed to the prices skyrocketing,” says Elusoji.<\/p>\n

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Even though the Nigerian economy can export oil, according to Elusoji, they have been focusing on importing oil, which has put pressure on government revenues.<\/p>\n

“Instead of benefitting from oil prices, the economy has suffered because the government is spending a lot on oil subsidy,” he says.<\/p>\n

The Nigerian government has tried to cushion the impact of the increased food prices by giving citizens money. However, Elusoji says the value of money keeps declining; therefore, it does not have much use for the people.<\/p>\n