World Bank ranks Nigeria among countries most hard hit by food inflation

Oct. 11, 2024 - Nairametrics

The World Bank has ranked Nigeria among the top ten countries most hard hit by food inflation in the world. In its food security report for the month of September, the global lender stated that Nigeria is the fifth country most hard hit by food inflation globally and the third in Africa only trailing Malawi and Liberia.

The report noted that Nigeria is among the countries with worsening food security conditions due to conflict in food-producing regions, environmental challenges caused by climate change, etc. According to the report, the country hardest hit by food inflation is Haiti with a 12% year-on-year real increase in food inflation followed by Malawi, Vietnam and Liberia.

Nigeria’s food inflation reached a 28-year record of 40.87% in June before it tapered in June and June.

..