Food Security, Economic Growth and Price Stability Nexus and Conceptual Issues

Authors

Park O. Idisi, University of Abuja

Publisher

Central Bank of Nigeria

Keywords

Food Security, Agriculture, Environment, Economy, Food Crisis, Nigeria, Rural-Urban development

Abstract

A strong argument that encourages analysing food security and food price stability issues is importance to economic well-being. Nigeria is one of the most food insecure countries and highly affected by all three drivers. For one, the country is vulnerable to price instability and successively hit by environmental disasters, that impact people’s livelihoods. Furthermore, its economy is thriving, but around 48.0 per cent of its population lives below the poverty line (World Bank, 2020; World Poverty Clock, 2020). In addition to that, since 2009 northeastern Nigeria is struck by insurgency. Essentially, sustainability in economic growth is dependent on achievement of food security (Manap, & Ismail, 2019). Without a food security strategy, countries will bear a large portion cost. To sustain security, a nation must increase domestic production and minimise relying on food import. Relying highly on food import will cause food security problems with high levels of chronic malnutrition, limitation in human capital development, poverty problem, reduced labour productivity, reduction in life expectancy and decrease economic growth. The objective of this paper is to examine relationship between food security, economic growth and price stability with focus on their Conceptual issues and nexus.

Author Bio

Prof. Park O. Idisi is a staff of the Faculty of Agriculture, University of Abuja, Nigeria.

Publication Title

CBN Economic and Financial Review

Issue

No. 4

Volume

Vol. 59

First Page

9

Last Page

31

Recommended Citation

Idisi, P. O., (2021). Food Security, Economic Growth and Price Stability Nexus and Conceptual Issues. Economic and Financial Review, 59(4), 9-31.