33.1 million Nigerians could face food insecurity by 2025 – PwC report

• A report by PricewaterhouseCoopers (PwC) revealed that 33.1 million Nigerians may face food insecurity by 2025
• Violence in northern Nigeria has disrupted farming activities and caused supply chain bottlenecks
• Addressing inflation, insecurity, and economic hardships is critical to prevent worsening food insecurity and poverty levels

By 2025, 33.1 million Nigerians could face severe food insecurity due to soaring inflation, economic hardships, and violence disrupting agricultural activities in key food-producing regions.

The alarming projection was detailed in a recent PricewaterhouseCoopers (PwC) report titled “2025 Nigerian Budget and Economic Outlook.”

The report highlights widespread violence in northern Nigeria, a major agricultural hub, which has disrupted farming activities, reduced crop yields, and created significant supply chain bottlenecks. 

Combined with rising inflation, these issues have left millions of Nigerians struggling to afford basic food items.

PwC states, “Approximately 33.1 million Nigerians may become food insecure in 2025 due to economic hardship, high inflation, and violence in Northern food-producing regions.”

The report revealed that in 2024, food prices have surged to unprecedented levels, pushing about 25.1 million people into acute food insecurity.

The violence in northern Nigeria has undermined agricultural productivity, threatening the nation’s food supply. 

These disruptions, compounded by inflation, have made it increasingly difficult for Nigerians to access affordable, nutritious food.

PwC noted, “Rising food prices have intensified food insecurity in Nigeria, leaving an estimated 25.1 million people acutely affected in 2024.”

Government efforts to mitigate the crisis

In response to the looming food insecurity crisis, the Nigerian government is increasing its focus on security and agricultural reforms.

The report stated, “With security spending rising from 12% in 2024 to 16% of the budget in 2025, and the implementation of agricultural reforms, food inflation might reduce.”

These efforts aim to address violence in agricultural zones, which remains a significant factor contributing to food insecurity. 

In addition, agricultural reforms are expected to enhance local food production, improve supply chains, and cushion the effects of rising food prices.

However, PwC warns that food-insecure Nigerians could rise even further if inflation, insecurity, and economic challenges are not addressed comprehensively.

The report also predicts that inflation and high living costs could push 13 million Nigerians below the national poverty line by 2025.

Achieving 15% inflation target in 2025 requires effective authorities’ collaboration – CBN

Meanwhile, TheRadar earlier reported that the Central Bank of Nigeria (CBN) said achieving the Federal Government’s 15 per cent inflation target in the 2025 budget will require effective collaboration between the monetary and fiscal authorities and the private sector.

The Deputy Governor, Economic Policy Directorate of the CBN, Muhammad Abdullahi, stated this on Tuesday, January 21, during the 11th National Economic Outlook: Implications for Businesses in 2025, organised by the Chartered Institute of Bankers of Nigeria (CIBN) Centre for Financial Studies in collaboration with B. Adedipe Associates Ltd in Lagos.