Senator Jimoh Ibrahim has urged the federal government to tackle Nigeria’s growing hunger crisis by providing food vouchers to low-income citizens. Speaking at a press briefing with the Nigerian delegation at the 2024 IMF/World Bank Annual Meetings in Washington, D.C., Senator Ibrahim, who chairs the Senate Inter-Parliamentary Committee, stressed that food vouchers would be more effective than the current cash transfer program in addressing food insecurity among vulnerable populations.
Ibrahim argued that food vouchers would directly reduce food scarcity, potentially aiding around 5 million households, or approximately 25 million people. He emphasized that such a measure would also help maximize the benefits of recent economic reforms, such as the removal of petroleum subsidies and adjustments in the foreign exchange market. These reforms, he stated, should focus on providing support to those who are most at risk.
Finance Minister Wale Edun, also present at the briefing, discussed the government’s initiatives to boost food production as a way to mitigate inflation, which is significantly impacted by food prices, currently making up 50% of the Consumer Price Index. Edun detailed ongoing efforts to enhance this year’s wet season harvest, as well as plans to support small-scale farmers in preparing for a strong dry season yield. The government intends to support 600,000 farmers in cultivating around 1 million hectares for wheat in November and rice at the start of 2024.
Minister Edun expressed optimism that these steps, alongside measures by the Central Bank of Nigeria to curb inflation, would lead to stabilized prices, making essential goods more affordable across the country.
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