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Nigeria To Face Imminent Food Insecurity Due To Insurgency

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With the impact of the Russian-Ukraine war that is already shaking the commodity market and threatening global food security, with the African region being the worst hit, Nigeria is currently witnessing a high level of insurgency crisis, which according to experts will worsen the food insecurity in the country if the government is not swift in their response to control it.

Over the past few years, Nigeria has been ravaged by an insurgency crisis, which majorly affected the Northern part of Nigeria. The northern part of Nigeria has on countless occasions been disrupted by an insurgency crisis that has affected agricultural/farming activities.

Farmers, out of fear of being killed, are scared to go to their farmlands for these insecurity reasons. The absence of farmers on farmlands has greatly affected food production and consequently increased the prices of food commodities in the market, which has led to food insecurity.

The effects of the Russian-Ukraine war and the insurgency crisis in Nigeria is more like a double jeopardy for the nation. Many rural farmlands have been killed while some have been displaced with a large percentage of them seeking refuge in IDP homes.

Agricultural activities in Nigeria, most especially in the northern part have been crippled by the insurgency crisis which has led to food scarcity and affected the prices of food commodities in the market. The most painful part of this is that the government of the country continues to fold its arms and play politics with the lives of people/ without any effective measures put in place to curb the insecurity menace.

With the rate of insecurity in the country that has disrupted agricultural activities, the government policies that are tailored towards ensuring food security in the country may not yield any meaningful results until the issue of insecurity is dealt with.

While the government continues to dilly-dally to brainstorm and implement a range of agricultural reforms, they need to ensure that safety of farmers is a top priority to ensure food security in the country.

The northern part is said to produce more food for Nigeria, I.e most of the food products in Nigeria comes from the northern region, and unfortunately, they are the worst hit by this insurgency crisis.

Therefore the abandonment of farmlands in the Northern region should not be taken lightly because it has already had an adverse effect on food security in the country. According to reports, in 2021, no fewer than 78,000 farmers in Borno, Katsina, Plateau, Taraba, and other states in the north have abandoned their farmlands as a result of attacks by herdsmen, armed bandits and Boko haram.

The government must understand that anything that threatens food security in Nigeria will lead to a high mortality rate, risk of some birth defects, lower Nutrient intakes, cognitive problems, Malnutrition, etc. It’s high time the government put the right security measures to curb this insecurity menace.

They must put the cart before the horse by ensuring that they must first of all curb the insecurity crisis in the country, to ensure maximum security of farmers in their farmlands before providing them with necessary agricultural equipment needed to improve agricultural activities in the country.

From Sri Lanka to Ghana to El Salvador, Economies Under Stress

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As the world watches the paralysis in the failed Sri Lanka, check your personal economy. Ghana is now a big concern. Egypt is there. El Salvador is there. Nigeria is in a gestation period with huge implications ahead of 2023 elections. The hopeful effervescence  of South Africa is challenged by youth unemployment and they are ramping up violence daily (19 died this weekend). From all indicators, I expect massive sovereign defaults and severe deterioration of many currencies. 

The Ghanaian cedi has lost 30.56% against the US dollar in 6months. The drop in the Cedi comes despite Ghana’s central bank’s hawkish stance to stamp out inflation.

As the dollar index (DXY) maintains its bullish momentum, the Cedi seems to be heading in the opposite direction. At the time of writing this article, the USD/GHS up 30.56% (YTD) to trade a 7.89 Cedi.

At a time when Ghana is facing economic disruptions caused by the Russian-Ukraine war, a stronger US dollar supported by hikes in US interest rates would only accelerate  the depreciation.

The biggest news now is that President Biden has to meet a man he initially ignored to speak with on phone. Yes, Saudi Crown Prince. Reading his piece in the Washington Post, you can see that even the United States feels the urgency to strike partnerships to avert a major economic upheaval.

The war in Ukraine has provided a validation that some statistics the world has relied on is faulty. No one would have believed that Russia and Ukraine have these impacts on global food security. But with both cut out due to sanctions and war, the world is now rattled with even the “major” suppliers of food confused.

Nigeria has lost physical security. President Buhari needs to do all to ensure we do not lose Food Security. Where he fails to do that, via all means necessary, it would be devastating.  This becomes necessary as our leaders continue to make statements which make no sense: “The Kuje custodial centre that was attacked by terrorists on Tuesday was Nigeria’s most fortified prison, interior minister Rauf Aregbesola has said. Mr Aregbesola said this in a statement on Friday after visiting the prison.

“Now my position is so clear, I have declared since April 2021 that all our facilities are red zones and that whoever attempts an attack may not live to tell the story. I still maintain this.

“Kuje is the most fortified in the country. It is medium by size but maximum by the security being put there. We have a platoon of security officers deployed here.”

The minister said that although the prison is officially a ‘medium’ security prison, it was the most fortified in the country.” Yes, it is the most fortified, but it was attacked for hours, and no help came even though it is within the nation’s capital! That denial is part of our problems just as we have been talking about crude oil theft with no action.

Mr. Kennedy [Managing Director of Chevron Nigeria/Mid Africa Business Unit, Richard Kennedy] emphasized the need not to confuse the agitations of host communities of oil-producing areas with the spate of crude oil theft being carried out in the area.

“From my experience, the issue with crude oil theft should not be confused with host community issues. It is much much much bigger than that. It is completely different from host community issues. Quite frankly it is organized crime.” 

He also revealed that the level of theft is costing Nigeria millions of dollars daily in lost revenue which could have helped solve our fiscal challenges.

“The volume of crude that is being stolen is well beyond comprehension. You can see some of the figures in the press, maybe it’s about 100,000 barrels per day at $100 per barrel and that’s $10 million per day that is being stolen. And NNPC owns 60% while taxes of 85% are paid so it’s a huge loss for the country.” 

Globally, provided the Western powers continue to focus only on Ukraine, we may see what happened in Sri Lanka take place in other places: ‘Thousands of protesters in the Sri Lankan capital Colombo have taken over the president’s residence, BBC reports. And the president is resigning: “Sri Lankan President Gotabaya Rajapaksa has announced he will step down after protesters stormed his official residence and set the prime minister’s house on fire.”’ So, do not count on leaders to lead. You just have to have your plan.

Protesters Storm Sri Lankan capital and Swim in Presidential Pool

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Thousands of protesters in the Sri Lankan capital Colombo have taken over the president’s residence, BBC reports. And the president is resigning: “Sri Lankan President Gotabaya Rajapaksa has announced he will step down after protesters stormed his official residence and set the prime minister’s house on fire.”

They have been protesting for days now over severe economic paralysis in the Asia country. In Sri Lanka, even if you have money to buy fuel (assume you can find it) for your car, you are not permitted as the nation does not have enough fuel to power essential services.

As that mild fire was burning, some guys decided to check out the presidential swimming pool. We may not connect this directly to Russia’s war in Ukraine, but I can tell you that a global order is being distorted with many moving parts now.

The world is sick now  – and I make that point because the government of Sri Lanka has begged everyone to even supply it with fuel so that it could power hospitals, public transportation, etc, and none listened. Possibly, global leaders want a change in leadership before they move. But who knows? It is a big challenge with all the attention on Ukraine – many countries will fall by the flanks.

Neither the PM nor the president were in the buildings.

Hundreds of thousands descended on the capital Colombo, calling for Mr Rajapaksa to resign after months of protests over economic mismanagement.

Mr Rajapaksa will step down on 13 July. PM Wickremesinghe has agreed to resign.

Parliamentary speaker Mahinda Abeywardana said the president decided to step down “to ensure a peaceful handover of power”.

“I therefore request the public to respect the law and maintain peace,” he said

The Song in Atlanta – Onye kwe, chi ya ekwe

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From the amazing Morehouse College Atlanta, USA (an all-male, historically black school), young men drop those ageless words in the Igbo Nation: if you believe, your personal (chi) will believe. That is the spirit that drives the republican mindset of entrepreneurial capitalism, personal liberty and responsibility.

Onye kwe, chi ya ekwe [if you believe, your personal god will follow along]. It looks ecclesiastical when young men make heaven pay attention. If you understand what they are saying in that short stanza, you will understand how their chis are connecting to the main Chi (Chineke, the Chukwu Abiama). Udo diri unu [peace unto you all]

 

Comment on LinkedIn Feed

My Response to a comment: Chi kwe first then madu kwe. But madu kwe first then chi kwe. The capital Chi is Chineke, the Supreme God while the small cap chi is the personal god. In Igbo mythology, chi submits to madu (the person) while madu submits to Chi (Osebuluwa, the Supreme God).

Twitter Vows Legal Fight After Elon Musk Abandons $44 Million Deal

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Recall that earlier this year, Tesla CEO Elon Musk made a move to buy Twitter for a whopping $44 billion. The deal was however placed on hold for a while after Musk suggested that Twitter provides him with information that will aid him to facilitate his evaluation of spam and fake accounts on the platform.

However, the Twitter board disclosed that there is zero chance that Twitter will simply accept Musk’s assertion, and if he eventually opts out of the deal, things will get messy. Musk however revealed that the more questions he asks about certain things on the Twitter platform, the more his concern grows and he is yet to receive a concrete answer on how many fake or spam accounts are on the platform.

Musk disclosed that he believes 20 percent of Twitter accounts are fake. He however states that such a number is high and needs to be significantly reduced which was his reason for renegotiation of the deal in the first place.

After much consideration from the Twitter board, it disclosed its plans to close the transaction and enforce a merger agreement between Musk and Twitter. The board and Musk agreed to a transaction of $54.20 per share as they believe the deal is in the best interest of all its shareholders.

However, the deal seems not to sit well with Musk who recently disclosed that he is terminating the deal due to the CEO’s refusal to show proof of the 5% fake accounts. In a letter by Musk’s lawyer, Mike Ringler he disclosed that his client had complained to Twitter’s board seeking data about fake or spam accounts for almost two months, yet they have failed to provide the information.

In the letter, it reads; “Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information”. 

In response to the letter, the Chair of Twitter’s board Bret Taylor via a tweet stated that the board is committed to closing the transaction on the price and terms that have earlier been agreed upon by the two parties.

However, with Musk, they plan to pursue legal action to enforce the merger agreement. He however disclosed that Twitter is confident that it will emerge victorious in the Delaware Court of Chancery.

The deal requires that if Musk pulls out, he will be mandated to pay Twitter the sum of $1 billion termination fee and could be subjected to additional litigation due to damages.

Twitter and Musk already have a binding agreement signed by him as they intend to hold him to it. Recall that Twitter in a journalistic briefing already shed more light on how it counts spam accounts, disclosing that it removes 1 million spam accounts daily, as the accounts represent below 5%.

However, Musk seems not to be buying into that, as he believes that there is more than what meets the eye. This has raised concerns from people, with a lot of them stating that if Musk really wanted to purchase Twitter he would have done so a long time ago, because it makes no sense to pull out of the deal by using bots and spam as an excuse which is lame.

It is believed that the spam accounts are not the only reason Musk might try to opt out of the deal, as Twitter’s share price fell dramatically since his takeover bid in April, leading to the impression that he is overpaying.