Governor of the Central Bank of Nigeria , Olayemi Cardoso has disclosed factors responsible for hunger in the nation, saying there was supply shock of food items preluding yuletide and the distribution challenges due to insecurity. Cardoso spoke at an interactive session with the Senate Joint Committee on Finance, Banking and Other Financial Institutions and National Planning, explaining that there were economic, social and security challenges that brought about food scarcity .
The Central Bank Governor was summoned by the joint Committee at the backdrop of the free fall of naira and acute hunger that has triggered pockets of protests in some states across the country. In his address at a well-attended public hearing, the apex bank boss attributed hyper inflation to organic food shortages but added that the government was addressing the menace through fiscal policies which may take time to work out. Cardoso said: “Headline inflation surged to 28.92%, propelled by food shortages, distribution challenges, and seasonal trend
Central Bank Nigeria Hunger Food Scarcity Inflation Fiscal Policies
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