SBM: West Africa's food security problem unsolved

According to the latest report from SBM Intelligence, the issue of food security in West Africa continues to be a pressing concern, with countries like Ghana, Senegal, and Nigeria experiencing some of the highest food prices in Sub-Saharan Africa during the second quarter of this year. Ikemisit Effiong, the Head of Research at SBM Intelligence, shed light on the challenges facing the region during an interview with CNBC Africa. Effiong highlighted several key factors contributing to the food security problem in West Africa, including insecurity in food-growing areas, deteriorating transport and logistics infrastructure, and insufficient supply chain support. These issues have led to soaring food inflation rates, with Nigeria experiencing a rate of over 20 percent and Ghana nearly 50 percent. The negative impact of food insecurity extends beyond rising prices, affecting the investment climate and exacerbating the region's economic challenges. Effiong emphasized the need for immediate action to prevent further escalation of the crisis, particularly in the face of upcoming elections in Ghana and ongoing governance issues in Nigeria. The recent removal of petrol subsidies in Nigeria has added to the complexity of the situation, with millions of people at risk of food insecurity. Effiong suggested that policymakers must prioritize food security over self-sufficiency in the short term to address the immediate needs of vulnerable populations. By easing restrictions on food imports and investing in critical infrastructure, West African countries can mitigate the looming food crisis and pave the way for long-term sustainability in the agricultural sector.