• Saturday, April 20, 2024
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BusinessDay

Stabilise naira, stop politicians from stealing, Nigerians suggest solution to Nigeria’s food inflation

Nigeria-economy

Recently, the issue of food inflation has taken center stage in Nigeria, prompting BusinessDay Nigeria to conduct, BusinessDay February TalkExchange Poll to gauge public sentiments.

The results paint a vivid picture of the challenges citizens face and their perceptions of government interventions in addressing this growing concern.

Overwhelmingly, 93.3 percent of respondents believe that government policies have not effectively tackled the issue of food inflation. This sentiment is mirrored in the fact that an equal percentage has altered their food consumption patterns due to rising prices.

It is clear that the impact of food inflation is not merely a statistical concern but a tangible reality affecting the daily lives of Nigerians.

The poll reveals a variety of ways in which citizens are coping with the economic strain caused by food price hikes. A majority, 60 percent, reported cutting back on other expenses to afford essential food items. Additionally, 26.7 percent revealed having to skip meals or reduce portion sizes, while 6.7 percent acknowledged resorting to cheaper and less nutritious food options.

These findings show the many-sided nature of the challenges faced by households.

Rice and other staple grains emerged as the most affected food items, with 93.3 percent of respondents pointing to substantial price hikes. Meat and poultry also experienced increases, though to a lesser extent (6.7 percent).

These insights offer a glimpse into the specific sectors of the food market that demand immediate attention.

Despite the grim scenario, opinions on the government’s efforts vary. While 53.3 percent deemed them poor, 26.7 percent rated them averagely. However, a significant 20% rated the efforts as poor, highlighting the need for a critical reassessment of the strategies in place.

Their responses show the complexity of the issue and suggest a widespread sentiment of dissatisfaction that warrants prompt attention and reconsideration of current policies.

A deeper dive into the factors contributing to food inflation reveals a complex interplay of economic instability (40 percent), agricultural challenges (20 percent), and the impact of government policies (40 percent). Understanding these root causes is crucial for devising effective, targeted solutions.

The poll also queried respondents on their confidence in the government’s ability to control food inflation in the future. While 46.7 percent expressed some level of confidence, 26.7 percentwere not confident at all.

This lack of confidence emphasizes the urgency for the government to rebuild trust through concrete actions.

Respondents offered a spectrum of solutions ranging from seeking economic expertise, addressing insecurity, supporting farmers, and stabilizing the currency. Some even proposed measures like joining international groups and cutting down on government expenditure.

“They should contact experts on the economy and seek help from them for better economic policies.”

“Return fuel subsidy.”

“Practicable economic blueprint, support farmers with seeds and other tools to aid commercial farming. Address growing insecurity and improve road transportation networks.”

“Address insecurity and implement programs to reduce importation and empower our farmers.”

“Solve insecurity to enable farmers to go back to the farm. Improve the purchasing power of the Naira.”

“Join BRICS, stop politicians from stealing public money to buy dollars, sell the refineries to private investors, go into massive agricultural projects to produce food. Cancel both the Senate and House of Representatives and put that money in security forces to tackle terrorism and other vices.”

“Security, transportation of produce from the hinterland (farms) to the market, and preservation (storage) of foodstuffs. Tackle insecurity and provide a subsidy on transport. Stabilize the Naira.”

“Temporarily stop food exports, release grains into the markets by the government. Check fraud in previous support to farmers, fight insecurity to protect farmers.”

“If the Federal, state, and local governments do not cut drastically on recurrent extravagant lifestyle to channel into the productive side of the economy coupled with sound policies, the poor and hungry shall continue to multiply insecurity and negatively impact agricultural output. The vicious cycle continues; all levels of government are unserious and wicked.”

“Subsidies on farm inputs such as fertilizer, subsidy to farmers, reduce import duty in the medium term and increase salaries.”

“Above all, security is key so that farmers can go back to their villages in Borno, Niger, Kaduna, Zamfara, and Plateau states.”

“Address insecurity, subsidize agric input, encourage farming.”

“Adequate security for farmers and farmlands in the North. Plateau and Benue that have a blessed soil are threatened by insecurity.”

Take a look at previous poll results