Hunger Crisis in Nigeria
Olisa Agbakoba, a Senior Advocate of Nigeria, has warned about the impending threat of a hunger riot in the country. Speaking to journalists in his Ikoyi office, Lagos, Agbakoba criticised the severe poverty affecting many Nigerians, despite the nation’s abundant oil and gas resources. He pointed out that these resources are predominantly controlled by foreign entities, leaving the local population struggling to afford basic necessities.
Call for Government Action
Agbakoba called on the Federal Government to act quickly to avert a potential crisis. He stressed the importance of preventing citizens from reaching a level of desperation that could lead them to protest in search of food. “Hunger riot can occur anytime in Nigeria,” he cautioned, urging President Tinubu to restructure his cabinet and cut down on the cost of governance. He argued that having over 40 ministers is excessive and recommended streamlining the government to no more than 20 ministries.
Proposals for Economic Reform
The legal expert also recommended scrapping some government agencies and expanding the tax net. He accused multinational oil companies of tax evasion and urged the government to pursue these defaulters rather than increasing taxes on the already burdened populace. This approach, he argued, would provide more sustainable revenue for the nation.
Rising Inflation and Food Costs
The backdrop to Agbakoba’s warning is the severe inflation affecting Nigeria. The National Bureau of Statistics reported a significant rise in food inflation to 40.66 per cent in May, up from 25.25 per cent in June 2023. This surge highlights the increasing cost of living and the growing difficulty for Nigerians to meet their basic needs.
Historical Inflation Rates
The Consumer Price Index (CPI) revealed that Nigeria’s headline inflation rose to 33.95 per cent from 33.69 per cent in April. This rate is the highest since March 1996, driven primarily by escalating food and transport prices. Such economic conditions are fuelling public discontent and heightening the risk of social unrest.
Urgent Need for Policy Change
Agbakoba’s call to action underscores the urgent need for the government to address the economic challenges facing Nigeria. Without immediate intervention, the nation risks widespread hunger and potential civil unrest. Agbakoba’s recommendations aim to provide a roadmap for stabilising the economy and preventing a looming crisis.
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