Why Food Prices Will Increase In Nigeria – IMF
The International Monetary Fund, IMF, has warned that climate change and floods in the country may lead to an increase in food prices.
This indication was given by the IMF African Department official, Mai Farid, on Monday during a session on ‘Climate Change and Food Insecurity in Sub-Saharan Africa’.
Farid said the IMF was abreast of the impact of the floods on communities in Nigeria and other neighbouring countries.
She said, “We recognise Chad and Cameroon have also been hit. The supply of agricultural production is going to drop which will put even further pressure on prices.
“The floods have affected some of the transportation networks which makes it even harder for food to transfer into the country or even out.”
The IMF chief called on governments in Sub-Saharan Af...