Coherent Identifier About this item: 20.500.12592/mx2wdb

Policy Brief - Implications of Food Systems for Food Security: The case

20 June 2022

Summary

(World Bank Group, June 2019) The dominance of oil and gas has contributed to structural problems, which include (1) the shallow transformation of the agribusiness sector; (2) the vulnerability of the economy and government finances to oil price shocks (as evidenced by the late 2014 price downturn pushing Nigeria into the recession of 2015-16); (3) oil-price driven boom and bust cycles which inevi. [...] Unless the government resorts to preventive measures; e.g., policies to counteract the appreciation of the exchange rate, saving part of the resource windfall in a sovereign wealth fund to use for investment in the productivity of the non-oil sectors, and in the diversification of the economy. [...] In Nigeria, however, the problem is somewhat worse: the country loses and wastes 40% of the total food produced, equal to 31% of land used, and the source of 5% of Nigeria’s GHG emissions. [...] The ongoing hardships and uncertainties inflicted on the world economy by the Russian invasion of Ukraine make the ambition of the Buhari Government—lift 100 million Nigerians out of poverty by 2030— even harder, but even more critical to achieve for Nigeria is the largest contributor to poverty in SSA as nearly 20% of poor people in SSA live in Nigeria. [...] About the Policy Center for the New South The Policy Center for the New South (PCNS) is a Moroccan think tank aiming to contribute to the improvement of economic and social public policies that challenge Morocco and the rest of Africa as integral parts of the global South.

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