According to a survey conducted by Cadre Harmonise, also known as CH, 24 million Nigerians, including 14,000 internally displaced people (IDPs) in 26 states and the federal capital territory, would experience poverty and economic crisis as a result of the ongoing Naira crisis and fuel shortage.
This was stated by CH in its most recent March report on Thursday in Abuja.
The report claims that during the review period, many people’s well-being in Nigeria have been severely impacted by the associated increase in the pump price of Premium Motor Spirit and the lack of naira.
The report advised the federal government and local governments to exercise care in light of an impending catastrophe of food insecurity and poverty.
“The protracted shortage of Petroleum Motor Spirit, also known as gasoline, and the ensuing increase in the price of the product at the pump across the states, caused enormous increases in transportation costs and the price of food items in Nigerian marketplaces.
One of the causes of food insecurity is the steadily rising cost of agricultural inputs and food products on Nigerian markets. According to the data, the general consumer price index increased by 39.49 percentage points from February 2022 to February 2023, from 15.7% to 21.9 percent.