Economic Headwinds Quickens Macroeconomic Instability in Africa
The global economy battles arrays of economic headwinds resulting from the pandemic and Russian-Ukraine conflict that disrupted the global supply chain. High interest rate environment in advanced economies is stoking currency and debt crisis in Africa. Also, inflationary surges and food insecurity are currently brewing resentment, and civil unrest and there are fears that heightened revenue volatility may worsen the socio-political conditions in Africa.
Entrepreneurship Opportunities in the Agricultural Sector
Agricultural sector offers lots of potential evolving value chain opportunities asides its traditional role of food and shelters provision. Agripreneurship is one of the evolving opportunities in the sector. It is one of Nigeria’s most important economic activities but remains underexploited. Some potential areas of agripreneurship worth considering include snail slim, egg powder, and tomato paste business. This type of business helps to reduce waste, increases food security, and reduces the country’s reliance on imports.
The Impact of Rural-Urban Migration on Food Security in Nigeria
Nigeria remains one of the countries with a high level of food insecurity in the world. The percentage of Nigeria’s population classified by the World Bank as severely food insecure is about 53%. Food insecurity is contributing to under-age mortality, hunger, and disease susceptibility among Nigerians. Although pandemic, climate change, and Russian-Ukraine war play a role, the recent trend in rural-urban migration in Nigeria has consequential effects on food security in the country.
This edition of the FDC monthly publication offers interesting policy discussions on these burning issues.
Do enjoy your read!