Let's talk about the hike in food prices & other products & everything we need to understand about it as a people & nation.
It doesn't matter if we are willing to move or not, one thing is certain about life - It is not STATIC. The reality is here...
#THREAD
It doesn't matter if we are willing to move or not, one thing is certain about life - It is not STATIC. The reality is here...
#THREAD
2. The recent hike in food prices is global.
With lots of angry citizens domiciled in our country, many tend to isolate our nation in challenges from the rest of the world. It can never be.
The pang from a price surge is global, only that ours may be predictable & avoidable...
With lots of angry citizens domiciled in our country, many tend to isolate our nation in challenges from the rest of the world. It can never be.
The pang from a price surge is global, only that ours may be predictable & avoidable...
3. What are the causes of hike in food prices?
i) The Higher the Global Oil Price, the bigger the impact.
Food products get transported at great distances and high oil prices raise shipping costs. On farming also, oil byproducts are a significant component of fertilizer etc...
i) The Higher the Global Oil Price, the bigger the impact.
Food products get transported at great distances and high oil prices raise shipping costs. On farming also, oil byproducts are a significant component of fertilizer etc...
This is the reason why a nation God has blessed abundantly with arable lands & favourable climate doesn't have an excuse for hike in food prices due to transported food from the US, Norway, Thailand etc.
This is the reason why having functional refineries is needful...
This is the reason why having functional refineries is needful...
ii. Climate Change & hike in food prices
What can anyone or govt do to avoid extreme weather? Air temperatures increasing, It's raining less, water from lakes & rivers evaporating, lands drying up, floods are becoming irresistible, which in turn can damage crops 🤦🏾♀️...
What can anyone or govt do to avoid extreme weather? Air temperatures increasing, It's raining less, water from lakes & rivers evaporating, lands drying up, floods are becoming irresistible, which in turn can damage crops 🤦🏾♀️...
But then, no country serious with high agric production wld solely rely on nature. Fortune only favours the brave. What stops us as a nation from Irrigation farming to stem hike in food prices due to unfavourable climate? Wld that be a 21st century scientific discovery?...
iii. Dwindling Govt Subsidies & hike in food prices
Nations of the world are earning less due to the general economic dip, a direct impact on the rate of agric output subsidies. Nigeria isn't left out. This is a govt still battling on providing basic infrastructural facilities...
Nations of the world are earning less due to the general economic dip, a direct impact on the rate of agric output subsidies. Nigeria isn't left out. This is a govt still battling on providing basic infrastructural facilities...
It may be easy to say, "Let hawa govt forget about trains, roads, power deals for now. Let them concentrate on alleviating hunger & adequate food supply" but then, what do you transport the food supplies with interstate wise? How do u preserve harvests agnst hike in food prices?
As far back as 2015, the CBN had restricted access to inadequate forex earnings for at least 41 items at the Nig. FX market which it said can be produced in Nigeria.
This was done to encourage local production but no doubt short time hike in food prices is unavoidable...
This was done to encourage local production but no doubt short time hike in food prices is unavoidable...
iv. Covid-19 Pandemic & hike in food prices
Is there anything this bad boy didn't affect negatively aside social media technology?
From 2020, there was a 4.4% hike in food prices generally. Why? Amidst lockdowns, demand for food-at-home escalated...
Is there anything this bad boy didn't affect negatively aside social media technology?
From 2020, there was a 4.4% hike in food prices generally. Why? Amidst lockdowns, demand for food-at-home escalated...
Exports & imports were disrupted as countries closed their borders to stop the spread of the virus. Local farmers battled disruptions in supply due to geographical lockdowns, many investors even suffered casualty or collapse in finances. How wldn't there be hike in food prices?
Let's now dig even deeper... Insecurity & hike in food prices.
Catch me up in the Part II of this thread if you could find one or two points you agree with here. ✌️🇳🇬✅
Catch me up in the Part II of this thread if you could find one or two points you agree with here. ✌️🇳🇬✅
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