The World Bank has issued a warning about the potential impact of increased conflict in the Middle East on food security in Nigeria and other countries in Sub-Saharan Africa.
The warning was included in the Global Economic Prospect report, which provides an outlook for the global economy in 2024.
The bank highlighted that political instability, violence, and disruptions in global trade, particularly in the Middle East, pose a significant risk to the region in terms of food security.
The report also mentioned that if conflict leads to an increase in oil prices, it could result in higher transportation and logistics costs, which would disrupt supply chains and further exacerbate the already high food inflation in Nigeria and other countries in the region.
It states, “An escalation of the conflict in the Middle East could exacerbate the situation in SSA in terms of food insecurity.”
“A conflict-induced sustained oil price spike would not only raise food prices by increasing production and transportation costs but could also disrupt supply chains, leading to less affordable food and an uptick in malnutrition rates in the region.”
The bank has also issued a warning about the Sub-Saharan Africa region, stating that it is at risk of experiencing severe weather events such as floods and droughts due to climate change. These events could potentially cause a rise in food prices, as most farmers in the region rely on subsistence agriculture.
