Metro

New World Bank report reveals over one million more Nigerians hit by severe food crisis in 2024

Published

1 month ago

October 12, 2024

A new Food Security report released by the World Bank has revealed that over one million additional people in Nigeria have been hit by a worsening food security crisis in 2024 compared to the previous year.

The report which placed a special focus on countries experiencing food insecurity, indicated that Nigeria, alongside Ethiopia and Yemen, witnessed a significant rise in the number of people facing acute food shortages.

“18 countries experienced worsening situations due to factors including intensified conflict and climate-related shocks, such as droughts,” the report said.

‘Notable examples include Ethiopia, Nigeria, and Yemen, each witnessing an increase of more than one million people facing high levels of food insecurity from the previous year.

“Conversely, some countries saw improvements. Nations such as Afghanistan, Guatemala, and Kenya reported declines in food insecurity, with more than one million fewer people facing acute food crises, although these countries remained in significant food crisis situations.’

The World Bank report attributed Nigeria’s growing food crisis to a mix of climate-induced issues and socio-political instability in various regions.

“In Nigeria, an estimated 1.6 million hectares of land have been inundated, including 342,650 hectares of cropland, affecting 685,770 vulnerable individuals. In Mali, 344,000 people were affected and 1.6 million hectares of land flooded, including nearly 500,000 hectares of cultivated land.

“Cameroon, Central African Republic, Côte d’Ivoire, Gambia, Guinea, Guinea-Bissau, Liberia, Sierra Leone, and Togo have also faced flooding, and northern and northeastern Nigeria and Ghana are experiencing dry spells, with adverse effects on crop production and thus food insecurity.

“In total, floods and droughts have affected approximately 3.5 million people, who require emergency support. It is estimated that $50m is needed to help 760,200 communities meet their basic food needs.”

The report data also showed that domestic food price inflation in Nigeria remained among the highest globally, with food prices increasing by 37.5% year-on-year as of August 2024.

“The surge in prices had put a strain on household incomes, making it increasingly difficult for low-income families to afford basic food items.

“Urgent intervention is needed to address the immediate food needs of affected populations while also focusing on long-term solutions to improve resilience against climate shocks,” the report noted.

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Metro

World Bank pledges $3b to support Zambia’s development goals

Published

11 hours ago

November 14, 2024

Isaac Dachen

The World Bank Group has pledged to avail Zambia with approximately $3 billion to support the country’s development goals under the new Country Partnership Framework (CPF) for 2025-2029, with nearly half of the funds already disbursed.

World Bank Country Manager, Achim Fock, who made this known at the CPF launch at the Mulungushi Conference Centre in Lusaka on Wednesday, outlined the global lender’s focus areas, which included enhancing jobs, human capital, and climate resilience.

Fock highlighted that $200 million had been approved to strengthen Zambia’s social protection programs, including the Refugee and Host Community Project.

He also expressed optimism for upcoming approvals, including the Climate and Economic Resilience Financing and the Zambia-Tanzania Interconnector.

Zambia’s Finance and National Planning Minister, Situmbeko Musokotwane, who also spoke at the event, noted that 2.3 million Zambian households have so far benefited from social protection interventions such as the Cash for Work Programme, emphasizing the government’s commitment to safeguarding lives amid crises like the recent drought.

Musokotwane further reiterated the government’s commitment to protecting lives during times of crises such as the recent drought.

“More than two thirds of the Zambian population was affected by the drought. It was the government’s view that the first priority was to save lives,” Musokotwane stated.

Metro

Chinese mining giant CNMC set for $1.6 billion investment in Zambia

Published

1 day ago

November 13, 2024

Isaac Dachen

A Chinese mining giant, China Nonferrous Metal Mining Company (CNMC), has announced the investment of over $1.6 billion in Zambia, following successful discussions with President Hakainde Hichilema at the State House on Tuesday.

CNMC Chairman and Chief Executive Officer, Wen Gang, who held the discussions with Hichilema along with the Chinese Ambassador to Zambia, Han Jing, confirmed the company’s commitment to furthering Zambia’s economic development.

“We are actively investing in critical sectors of Zambia’s economy,” Gang said after the meeting.

He noted that CNMC was currently pumping water from Shaft 28 at Luanshya Copper Mine, where 29.9 million cubic liters have been cleared as part of intensified dewatering efforts, adding that the company plans to inject an additional $200 million to develop a greenfield mine on the Copperbelt.

President Hichilema who welcomed CNMC’s commitment, highlighted the potential economic impact of the firm’s investment which will include job opportunities for Zambians.

“This $1.6billion investment, alongside advanced technology and expansion, will extend operations and create more jobs and opportunities for Zambians, especially in mining contracting and supply,” the President said.

He also expressed gratitude to Chinese President Xi Jinping and the Chinese government for their shared commitment to fostering growth and cooperation between the two countries.