To stem rising food prices and anger in the land 

The rising number of hungry and angry Nigerians is enough to worry any government. Measures by the government to assuage the pains of Nigerians appear to be slow in taking effect. The reason cannot be ignored; Nigeria is facing an unprecedented economic crisis. A financial and economic crisis marked by a free fall of the naira and an alarming surge in the cost of living. This dire situation is pushing more people into poverty, more than ever before. Though official records from the National Bureau of Statistics (NBS) reveal a staggering 35.41 per cent food inflation rate, the grim reality suggests that the true food inflation rate is even higher, surpassing 50 per cent. To check rising discontent that may lead to lawlessness, the federal and state governments must intensify efforts to strengthen the naira, improve food production and distribution and clearly communicate plans and activities to the people promptly to enjoy their support and sympathy.

High and persistent inflation has continued to weigh significantly on consumer purchasing power, particularly in middle, poor and vulnerable households, pushing more Nigerians into poverty. The World Bank estimates more Nigerians have sunk into poverty, with even more people at risk of food insecurity. The tides of insecurity across the country, the slowdown in the reform momentum and policy uncertainty have continued to deter private investment, with fewer manufacturing entities announcing divestments and changes in business strategies.

Beyond the raging food inflation, the unusual spike in the price of cement has reinforced the fact that the higher the price of cement, the less affordable for housing and the more people in need of shelter. The government’s appeal to the cement market’s oligopoly is not enough to check abuse in the production and distribution of the product. A product that sold for N5,600 in January sold for double its price in less than a month. This astronomical rise in price has implications for the larger society. The construction industry is touted as the largest employer of labour, but with the skyrocketing price of cement, many construction sites that are cement-based may be closed or suffer setbacks in which case some workers–skilled and unskilled, will be thrown back into the labour market. Already, many construction firms are slowing down and re-pricing projects in line with market realities.

Indeed, the government meeting with operators provides a temporary relief but the long-term solution lies in the ability to raise the production capability of affordable commodities and liberalise the market for new investors. With the benefit of hindsight, Nigeria in the 70s had at least five functional cement plants. The companies, largely under the management of the government, were at Nkalagu, Ewekoro, Kalabaina, Calabar and Okpella. The combined output of these plants satisfied the level of infrastructural development at the time and at an affordable price. The price of a 50kg bag of cement at the time was 50 kobo! However, a clear-headed approach and consistency of government policy can still bring back the lush green era of yesteryears.

More so, it is time the country paid attention, especially through research and development, to emerging alternatives to some building materials like cement. For instance, age-long laterite is still as relevant as it was in the olden days, though in new fashions that make a modern design. Another is the bamboo tree, which is fast gaining a look-in as a possible substitute for iron rods. Container and wooden houses have shown that durable modern houses are possible without expensive bricks and mortar. All of these are innovations for people who are thinking. Research-based communities like the Nigerian Building Research Institute (NBRI) and building departments of universities should be tasked to do more and market their products as a justification for their yearly budget.

While opening food banks and increasing access to grains might be commended, if indeed the reserves exist, the government should remember that access to food and water are the glue that holds society together. As Alfred Henry Lewis observed in 1906, ‘There are only nine meals between (hu)mankind and anarchy.’ The availability or scarcity of staple ingredients can mean the difference between a civilised society and a civil conflict. Food scarcity exacerbates social tensions such as inequality and poverty and acts as a threat multiplier. This is already playing out with the frequent reports of looting as witnessed in 2020 and a few weeks ago in Abuja and environ. Throwing money at problems solves nothing. Rather, money thrown at problems often exacerbates the problems. Many studies have shown this. The cobra effect has shown this clearly. When money is applied wrongly to a problem, in many instances, the problem gets worse. This is exactly what is happening to poverty in Nigeria because of palliatives and so-called empowerment. The government’s unsustainable ‘interventions’ backed by nothing have brought the country to its present state, on bended knees. The CBN Governor, Yemi Cardoso affirmed that the over N10 trillion government interventions is creating even more problems for inflation management.

Sociologists believe that not everyone in society can be a productive entrepreneur. When you give non-entrepreneurs money, they tend to shunt to consumption rather than to production. This is what has happened to much of the money showered on SMEs over the years. As seen in many cases, palliatives tend to induce a dependency syndrome which breeds the “entitlement mentality” in our society. It is apparent that government ‘interventions and palliatives’ have ended up achieving the opposite effect. Rather than eradicating poverty, it deepened instead to a point where a vast majority are considered multi-dimensionally poor. Palliatives have not eradicated poverty; instead, it has created a huge population that is waiting for government handouts. The removal of fuel subsidy last May had triggered widespread anger, accentuating the urgent need to review the concept of palliatives.

Nigeria is in a dire situation and must approach its economic survival with pragmatism. While the present solutions might offer some short-term respite, addressing the underlying causes of hunger, poverty, and unhappiness requires a comprehensive and long-term strategy. The government must promote openness, fight corruption, and make investments in a variety of economic areas. Leaders need to practise austerity measures in both word and deed if they want to restore the trust and hope of the populace. Nigeria may prepare its people for a better and more successful future by adopting a multipronged approach that places a high priority on infrastructure, employment development, education, and community empowerment. The time to act is now, to avoid chaos!