The International Monetary Fund has said that Nigerians should brace up for higher food prices and risks in 2023 due to the recent floods and high fertilizer prices.
According to the National Bureau of Statistics, food inflation hit 23.72 per cent on a year-on-year basis in October 2022, with inflation on certain food items rising to between 50 – 100 per cent.
The IMF advised that the agricultural sector be strengthened as it remains key to job creation, food security, and social cohesion.
