Alongside this milestone, redalpine is expanding its footprint with a new office in London, enhancing its focus to unlock innovation across Europe.

Founded in Zurich in 2006, redalpine has been investing for nearly two decades and is one of Europe’s most experienced venture capital funds. 

redalpine is recognized for funding category leaders in software and science – from AI, software, biotech, and food to fintech, healthcare, and energy – and being the first backers of unicorns like Taxfix and N26. 

This strong track record, coupled with the fund’s consistent top-quartile returns, ensured that RAC VII closed oversubscribed, exceeding its initial target despite a challenging fundraising environment. 

Michael Sidler, founding partner of redalpine, said: “We are at a pivotal inflection point in technological development, with transformative change happening across all industries. Huge forces such as AI, energy transition, health and food security, and more are creating significant investment opportunities. We are seeking startups that are working on incredible solutions and are proud to be empowering the next generation of game-changing companies. With RAC VII, our largest fund to date, we can’t wait to co-create the future together with visionary entrepreneurs, while continuing our legacy of delivering outstanding returns for our investors.”

A significant number of existing investors doubled down on their commitment in RAC VII fund, with limited partners including renowned family offices and leading institutional investors (including public pension funds, Funds of Funds, and national and international banks). Today, redalpine has over $1bn in assets under management across its seven funds.

Operating out of offices in Zurich, Berlin, and soon London, and with a presence in Silicon Valley, RAC VII will back 15-20 early-stage companies from across Europe. 

The fund has already invested in nine companies, including Proxima Fusion (Germany), a Max Planck Institute for Plasma Physics spin-off focused on the future of clean energy production through fusion technology, LegalFly (Belgium), the AI copilot that is transforming legal workflows, and Expression Edits (UK), the gene-editing company that is streamlining and accelerating the development of life-saving therapies.

Lino Teuteberg, co-founder of redalpine portfolio company Taxfix, commented: “When we set out to help people all across Europe overcome their fear of complex tax and financial issues, redalpine stood out with their hands-on approach and deep belief in our vision. The founding partners and team served as valuable sparring partners around the topics of product development, growth, and hiring, and continue to double-down on their support by investing from Seed to Series D. We’re delighted to hear that RAC VII will enable more entrepreneurs to benefit from partnering with redalpine.”

The opening of redalpine’s new London office is another important step in the company’s growth and commitment to Europe’s local startup ecosystems. redalpine has already backed over 10 UK-based companies, including 9fin, Uncommon, and Hypervision Surgical.

Sebastian Becker, general partner at redalpine and head of the London office, said: “After expanding to Berlin, establishing a presence in London is the next logical step in our growth journey. London and the UK have shown very impressive advancements in the past few years, particularly in deeptech and AI – areas that align perfectly with our investment strategy at the continuum of software and science. I look forward to building our on-the-ground team and being on hand to further support our local portfolio companies.”

redalpine’s investment team comprises seasoned operators, former entrepreneurs, and half of the team are scientists, including biologists, physicists, doctors, computer scientists, and material scientists. 

The company funds technological breakthroughs that offer tenfold improvements over existing solutions, providing a so-called ‘tech hedge’ and a key competitive advantage. To date, redalpine has invested in over 100 companies, including N26, Klarna, Taxfix, Mistral AI, Aktiia, Lakera, and Infinite Roots.

In addition to its six early-stage funds, redalpine launched its innovative evergreen, multi-stage Summit Fund in 2020, the first of its kind in Europe. 

The Summit Fund enables redalpine to invest in European tech champions and support its top-performing portfolio companies through the later stages, from startup to IPO, reducing reliance on US funding. 

With the successful closing of RAC VII and the opening of the London office, redalpine is perfectly positioned to progress its vision of empowering game-changers, disrupting industries for good, and shaping a better world for all.

The failure to adequately tackle insecurity in the country to enable farmers go back to farms and inability to quickly move from consumption to production mode are all notable shortcomings.

The National Bureau of Statistics (NBS), weekend, released its April report on Selected Food Prices Watch, revealing a substantial surge in the prices of various food items in Nigeria.

The report provides valuable insights into the year-on-year and month-on-month changes in prices, as well as regional disparities.

Tomato Prices

In April 2023, the average price of 1kg of tomatoes experienced a significant year-on-year increase of 13.73 percent, reaching N485.10 compared to N426.54 in April 2022. On a month-on-month basis, tomato prices rose by 3.97 percent in April compared to March 2023.

Brown Beans Prices

The average price of 1kg of brown beans (sold loose) witnessed a year-on-year increase of 16.03 percent, rising from N530.62 in April 2022 to N615.67 in April 2023. In the same period, brown beans prices increased by 3.13 percent on a month-on-month basis.

Onion Prices

Onions saw a year-on-year increase of 15.87 percent in the average price of 1kg of onion bulb, rising from N380.94 in April 2022 to N441.38 in April 2023. However, there was a slight month-on-month decrease of 0.67 percent in April compared to March 2023.

Yam Prices

The average price of 1kg of yam surged by 23.12 percent on a year-on-year basis, reaching N444.69 in April 2023 from N361.20 in April 2022. Month-on-month, yam prices increased by 0.38 percent in April compared to March 2023.

Boneless Beef Prices

Boneless beef experienced a substantial year-on-year increase of 23.13 percent, with the average price of 1kg rising from N2,026.8 in April 2022 to N2,495.69 in April 2023. On a month-on-month basis, boneless beef prices increased by 0.65 percent in April compared to March 2023.

Regional Variations

Imo state recorded the highest average price for 1kg of boneless beef at N3,277.11, while Kogi state had the lowest at N1,789.67. Edo state had the highest average price for 1kg of tomatoes at N950.62, whereas Kogi state had the lowest at N205.26.

Ebonyi state had the highest price for 1kg of brown beans (sold loose) at N961.74, while Niger state had the lowest at N428.57. Cross River state had the highest average price for 1kg of onion bulb at N987.39, while Katsina state had the lowest at N163.33.

Akwa Ibom state had the highest average price for 1kg of yam tuber at N920.15, while Benue state had the lowest at N200.37. Abia state had the highest average price for one bottle of vegetable oil at N1,694.74, while Kogi state had the lowest at N735.33.

Zone-wise Analysis

The Southeast region had the highest average price for 1kg of boneless beef at N3,223.05, followed by the South-South region at N2,673.33. The North-Central region had the lowest average price at N2,133.46. The South-South and South-East regions had the highest average prices for 1kg of tomatoes at N849.

Implications

The rising prices of essential food items such as tomatoes, beans, and yams in Nigeria have significant implications for the population.

Firstly, consumers are forced to spend more on these goods, leading to a higher cost of living and straining household budgets, particularly for low-income individuals and families.

Additionally, the increase in food prices reduces purchasing power, limiting people’s ability to afford necessities and hindering their quality of life and financial stability.

Furthermore, the report highlights the alarming rise in food prices both on a yearly and monthly basis, raising concerns about food security in the country. When a significant portion of the population cannot afford or access affordable food, it results in heightened food insecurity and increased hunger.

The impact of higher food prices extends to nutrition, especially for vulnerable groups such as children, pregnant women, and the elderly. With nutritious food becoming more expensive, individuals may resort to cheaper, less nutritious alternatives, leading to a decline in overall health and well-being.

Moreover, rising food prices pose economic challenges at a broader level. They contribute to increased inflation rates, which can negatively affect the overall stability of the economy. Additionally, businesses and farmers in the agricultural sector face difficulties due to higher production costs and reduced consumer demand.

What Should be Done

To address these implications, the government and relevant stakeholders must implement effective measures. These include promoting sustainable agricultural practices, investing in infrastructure, supporting small-scale farmers, and implementing social safety nets to assist vulnerable populations.

Establishing robust food security programs that support small-scale farmers, encourage sustainable agricultural practices, and develop strategic reserves will contribute to long-term solutions.

Final Notes

Tackling the challenges posed by rising food prices requires comprehensive actions to stabilize prices, enhance agricultural productivity, and improve food security in Nigeria.

By implementing these strategies, the country can alleviate the burden on its citizens and ensure a more sustainable and secure food system.

She made this statement during the official commissioning of the new NAFDAC office complex for the Murtala Muhammed International Airport/NAHCO in Lagos.

Adeyeye expressed her concern about the continuous rejection of Nigerian food exports in some European countries and the United States.

She emphasized the need for stronger collaboration between NAFDAC and other government agencies at the ports to address this issue. A visit to NAFDAC’s export warehouses within the international airport reveals the main reasons behind the rejections.

To tackle the challenge, Adeyeye highlighted NAFDAC’s efforts in working closely with port agencies to ensure that exported goods meet the regulatory requirements of the importing countries and destinations.

She acknowledged the importance of collaboration with the Nigeria Customs Service, stating that without their support, NAFDAC would face significant limitations in its operations.

Adeyeye emphasized that NAFDAC’s presence at the ports and land borders plays a crucial role in fulfilling the agency’s mandate of safeguarding public health.

She also acknowledged the collaborative efforts with other organizations such as the Nigeria Agricultural Quarantine Services and the police, which help ensure due diligence, investigation, and enforcement.

She emphasized the need for comprehensive collaboration among various agencies to address the rejection of Nigerian food exports, as it not only affects exporters but also has economic implications for the country

Smoked foods have been a crowd-pleaser for centuries as people began to realize that smoked foods carried an authentic flavor compared to non-smoked food. Cooking over fire has become a part of many gastronomies, and has found its way into many cultures across various continents.

Amoking is the world’s oldest cooking method dating back to the era of primitive cavemen who hung meat over the fire to dry. It was soon realized that the smoke gives the meat a different flavor and helped preserve the meat better.

According to historians, the modern-day practice of smoked meat began in Turkey and was introduced to Romania by Turkish forces that invaded the country. Jewish butchers from Romania perfected the curing method, producing an exceptionally soft delicacy

The smoky technique has evolved over the years moving from community smoking and huge smokehouses to having a compact food smoker or a small, improvised smokehouse positioned at the back of a house.

The benefits of smoking foods include flavor enhancement, a great perseveration technique, reduces rate of food poisoning, and provides better food color and texture.

Smoke Acceptance in Africa

The smoke taste is taking foods to a whole new level. The incorporation of smoky flavor into African cuisine has been met with wide acceptance across the African continent. Africans have a bubbly smoke and grilled culture which makes smoking a traditional way of preserving food products. This preservation technique gives food a longer shelf life while creating a unique flavor and aroma.

An authentic African dish is incomplete without adding a smoky component as it adds layers of flavor and taste to the meal. The continent has a pervasive meat culture, with barbequed or grilled meat cultures. Whether Braai/Shisa Nyama in South Africa, Suya/Chinginga in West Africa, or Mushkaki/Nyama Choma in East Africa, the roasted and grilled meat culture is a pervasive one across the continent.

The wide acceptance of the smoke flavor prompted food manufacturers to develop smoky grill spices for people who want an elevated meal profile or don’t have access to smoky food components. Increasingly, these grilled spices have found their way into other applications.

Nigeria’s suya spices have become a popular seasoning for meals such as noodles, pasta, and commercial snacks (extruded corn, and potato chips).

Aome other smoky spices include – smoky BBQ seasonings for snacks and marinades; smoky chicken bouillon seasoning to enhance soups, stews, and sauces, and BBQ beef flavor for noodles application amongst others.

The Grill and BBQ trends seen in African restaurants, from high-end to low-end, reflects the love for the smoky flavor profile. Most menus have smoked or grilled meat, seasoned with smoky seasonings to deliver delicious cuisines.

Traditional foods associated with smoke

Africans have vibrant smoke and grilled cultures as smoking was a form of food preservation for most parts of the continent. In West Africa, eighty percent of fresh fish undergo a smoking process before consumption.

Most of the continent’s staples such as meat, fish, plantain, sweet potato, corn and yam are roasted as street food and other snacks, to create smoking signature profiles.

From Western Africa, the Nigerian Suya is made from beef, ram, offal, and chicken. It is marinated in dehydrated peanut cookies, ginger, salt, pepper, vegetable oil, and other spices before going over the fire – which adds complexity to the overall flavor while prolonging the shelf life, the Suya is dried further and is popularly known as Kilishi.

Dried fish is an important part of the region’s cuisine, acting as a flavor enhancer for soups and stews. Some of the dry fish popularly eaten within the region include stockfish, panla, bonga, adwene, agbodo, and koobi.

From Eastern Africa, Nyama Choma, a national dish of the Kenyan and Tanzania people, is prepared using preferably goat meat. The marinade includes salt, pepper, onions, garlic, ground ginger, and lemon juice.

From Southern Africa, the South African braai is made from game meat, goat and mutton prepared with Peri-Peri sauce, which is a combination of crushed chiles, lemon, pepper, garlic, salt, onion, bay leaves, vinegar, and oil. The braai forms a fundamental part of the South African culture as family and friends gather around a wood fire in a celebratory mood.

From Northern Africa, Méchoui is a whole sheep or lamb spit-roasted on a barbecue in Maghrebi cuisine. Méchoui is seasoned with garlic, onion, carrot, cumin, coriander, other spices, and butter. Méchoui is commonly prepared in Algeria, Morocco, and Tunisia.

Cooking methods delivering specific smoke profiles

The popular smoke party Jollof rice in West Africa got its name from the authentic smoke it delivers during the cooking process. The party Jollof rice delivers a different flavor when cooked on firewood, charcoal, and other forms of wood – Mahogany, Odum, and Wawa wood types in Africa.

In other parts of the world, woods like hickory, mesquite, apple, and beech woods are used to create smoke tonalities. Initially, this cooking process was most common among Jollof prepared at parties with firewood but now, people have found a way to incorporate the smoky flavor without necessarily cooking with firewood.

The latter could be achieved either by roasting the tomatoes, pepper, and onions and/or adding smoky seasonings. This gives the dish that smoky flavor and delivers the same taste as when cooked on firewood.

My daughter, Kayla, loves the rich creamy taste of roasted peanut butter soup, a local delicacy of roasted peanuts made into a paste and added to soup. The roasted peanut soup, which has a rich history, is a protein-rich meal that can be enjoyed with a vegetarian or chicken dish, and served with omotuo (rice balls), fufu or rice.

In South Africa, meat prepared on a gas grill can never be considered Braai. The most important component of the braai cook is the wood fire and cooking is done at a slow pace.

A traditional braai is cooked on local wood such as kameeldoring wood which burns slowly and gives good heat and coals, and wingerd wood burns very fast and doesn’t give lasting coals, but is great for giving aroma and flavor. A modern-day braai is cooked using charcoal.

A grill is placed over very hot coals and the meat is perfectly barbecued on the grill. Once the meal is cooked, the fire is fed throughout the braai. Either traditional or modern, both give the braai a distinctive flavor.

My friend, Sean Ryan, the Director of Commercial and Business Development Taste, Smoke and Grill at Kerry ingredients, corroborates this. According to him, cooking on smoke and fire is a flavor profile that is highly desirable and associated with some fantastic cuisine from Africa.

“As more people move away from this and cook with electric or gas coolers they will miss this taste profile in their products and they will want it put back in through seasonings and condiments.”

Symrise and Freddy Hirsch Smoke Platform: Creating specific profiles for the African market
To relieve the stress of having to smoke ingredients for meals, Symrise and Freddy Hirsch’s partnership has used its innovative platform and expertise in production and smoke technology to develop various authentic smoky and grill seasonings targeted at the West African market. The grill-type flavors are designed to recreate the “fresh-from-the-grill-without-an-actual-grill” taste.

Symrise and Freddy Hirsch Nigeria have invested in consumer research to understand the smoke patterns that are preferred by African consumers. The key objective was able to understand the customer-preferred attributes, create authentic smoke profiles that are accepted by the consumers, and meet the nostalgic needs of consumers when they eat.

The companies created a smoke toolbox for all savory applications – bouillon, snacks, marinades, noodles, pasta, and meat applications. In addition to the smoke flavor profiles, we were able to create authentic smoked African foods such as stockfish, crayfish, African chilli, and paprika.

Technology has made it easier for people to incorporate smoky flavors into their cuisine. The traditional smoking process has been modernized by creating taste molecules that capture the taste of smoking. The wood compositions used enables mild, savory or sweet notes. The flavors are available in African firewood seasoning, hickory seasoning, campfire seasoning, and flame-grilled seasoning.

The Freddy Hirsch and Symrise AG partnership is a marriage between a leading West African flavor manufacturer with local insights and a key player in the global flavor market, respectively. Together, we deliver effective solutions and improve taste perception through enhanced salivating properties in West Africa Foods. In addition, our collaboration continues to improve food innovation, ensures deep market penetration in West Africa and harnesses our joint flavor technology platforms to deliver authentic African flavors and enhancers.

Fresh from the grill without the grill

There is something quite primal about smoking food. The aromatic and pleasant smell of delicious food instantly puts a smile on your face and can trigger thoughts, experiences, and even emotions of hunger. Such smells bring us into a place of anticipation and happiness and connect us to memories of a time when humans only ate fresh from the fire.

It is hard to perceive smoky food and not feel like you should be eating it. Sometimes without looking for it, the smell comes evading your space, escaping from a neighbor’s kitchen or from that local bukka driving along the road. You can get the same incredible smell and flavor in your kitchen using the new range of authentic smoky and grill seasonings from Symrise and Freddy Hirsch Nigeria.

Having mastered the art and use of flavors and seasonings that exude the rich smoky grill flavor into food, the partnership has launched its grill-type flavors, which are designed to recreate the fresh-from-the-grill-without-an-actual-grill taste.

Africa has several opportunities for smoke profiles seeing that the smoke opportunities on the continent grow as grill and BBQ trends are increasingly becoming more popular among African restaurants. A popular African export is the smoky jollof rice, which is a ubiquitous staple in Nigeria’s quick-service restaurants.

Written by Kojo Brifo, Managing Director, Freddy Hirsch Nigeria, and Sofiane Berrahmoune, Sub Regional Director, Flavor, Africa Middle East, Taste, Nutrition & Health, Symrise.

There are concerns that Nigeria’s dependence on imports to satisfy growing wheat consumption might face its biggest challenge due to Russia’s war with Ukraine. Already, the Russia-Ukraine war has disrupted global grain and energy markets, which would push up food prices in food-importing countries.

This year’s OML series, which focused on “Sustainable Development of the Agricultural Sector for National Well-being,” provided the opportunity for key stakeholders of high intellectual capacity to analyze and recommend new ideas to harness the potential of the agricultural sector and boost the economy.

In a lecture delivered by Dr. Muda Yusuf, Chief Executive Officer, Center for the Promotion of Private Enterprise (CPPE), he said it has become critical for Nigeria to start paying attention to the agricultural sector by ensuring that its potential is effectively harnessed.

Dr. Yusuf mentioned that while the agricultural sector contributes 26 percent to the country’s gross domestic product and 60 percent of the entire labor force, its value chain remains critical to the growth of the economy.

According to him, the value chain of agriculture impacts manufacturing, transportation, marketing, and exports, providing a lot of benefits to the economy in the areas of food security and poverty reduction, and opined that Nigeria should be earning more foreign exchange from the sector than it does.

“Nigeria needs to look at what we are not doing well because the country is so blessed to be a leading food producer and exporter. For some reason, we have not been able to achieve that.”

According to Dr. Yusuf, some of the challenges affecting agriculture development in Nigeria include low use of technology; access to land; climate change; poor irrigation system; lack of fertilizer; insecurity; corruption; bureaucracy; access to funding; access to markets; inadequate storage; and lack of interest among the youth to venture into agriculture, among others.

He said that there are more than enough programs and schemes by the Nigerian government to aid the sector, but many of those programs have gone extinct without achieving the desired purpose.

“We had Commodity Boards which were scrapped, the Nigeria Agricultural Cooperative Bank, which is moribund practically because nothing is happening there. We have the Directorate of Foods. We have Presidential Initiatives on special commodities.

Dr. Yusuf suggested that the energy of Nigerian youths is needed to drive the sector, just as they have shown resilience and ingenuity in the areas of ICT, entertainment, and now politics.

“Because of our demographics, the youth are showing their creativity in other areas of the economy, but we are yet to see that in the agricultural sector… If we must move forward, it is sacrosanct to ensure that entry barriers are removed to encourage participation.”

Event convener and President of the AIESEC Alumni Nigeria, Olubunmi Abejirin, said that the decisions that policymakers and stakeholders in the entire food value chain make today will have long-term consequences for the future of the world’s food systems and significantly impact national food security initiatives.

Ms. Abejirin said it was important to start having broader conversations on Nigeria’s preparedness for the looming food crisis and strategize on how to feed Nigeria’s 200 million people.

“Nigeria has sufficient land for agriculture, with 70.8 million hectares of agriculture land area. However, we still have to address the challenge of high-quality inputs for crop production, especially, fertilisers, subsidies, and other issues such as agricultural markets and trade flows, and food waste, among others.”

The OML series have consistently been organized in honor of Dr. Michael Omolayole, the ninety-three-year-old erudite management expert who has continued to show passionate dedication in the pursuit of short and long-term goals of business leadership in Nigeria and Africa.

According to the AIESEC Alumni President, Dr. Omolayole has shown his nation-building capacity by continuously spearheading programs and initiatives that have propelled our indigenous leadership and management economy to greater heights.

“He is proof of the high regard the corporate world as a collective hold for Dr. Omolayole, with the collaboration between the NIM, LCCI, NECA, and CIPM for almost a decade, enabling key stakeholders of high intellectual capacity to analyze and recommend new ideas to benefit the business and economic development of our country.”

Other stakeholders at the event include the Nigeria Employers’ Consultative Association (NECA), a leading voice of advocacy for employers in the organized private sector in Nigeria; Lagos Chamber of Commerce and Industry (LCCI); Chartered Institute of Personnel Management (CIPM), and the Nigeria Institute of Management (NIM).

The Chairperson of this year’s event and President of NECA, Mr. Taiwo Adeniyi, noted that the agricultural sector remains a fundamentally critical sector in the development of a nation, and said that with the recent upsurge in banditry in the North and other areas, which has prevented agricultural activity, farming has been crippled to the point of collapse.

Mr. Adeniyi, who is also the Managing Director of Vitafoam Nigeria Plc, acknowledged that the Central Bank of Nigeria (CBN) has taken some steps towards the development of agriculture through the Anchor Borrowers’ Scheme and the Backward Integration program, but said that more needs to be done to ensure food security.

The OML lecture had in attendance, captains of industries, CEOs of top corporations, management gurus, related government agencies, and financial institutions, and other guests from various sectors of the economy.

This rise in the food index was caused by increases in prices of bread and cereals, food products, potatoes, yam and other tubers, meat, fish, oil, and fat.

“In July 2022, Nigerians paid more for goods and services than they did exactly a year earlier in July 2021 by a relatively high rate of 19.64%,” Dr. Chinyere said in a note sent to TechEconomy.

She said looking at the states’ inflation rates, the three lowest rates were recorded in Borno, Jigawa, and Kaduna, while the highest rates were found in Akwa Ibom, Ebonyi, and, Kogi States.

According to Dr. Chinyere, the records may reflect the lockdown on food items in the northwest and northeast since the food items are not brought to the south due to insecurity constraining the movement of goods, a warning signal of massive food waste in some parts and scarcity in others.

“Specifically, for manufacturers, input prices have spiked. Items such as diesel which most firms depend on for powering their factories have continued to rise in price causing an unbearable cost of production which also translates to higher consumer prices.”

Nigeria’s energy crisis is worsened by the poor supply of electricity and a bumpy road to renewable energy deployment.

On the inflation rate, which surged to 19.64 percent in July 2022, up from 18.60 percent in the previous month, she said Nigeria has now had six consecutive months of increased inflation, and the rate is at an almost 17-year high.

According to her, the inflation is largely attributable to rises in food and energy prices, FOREX scarcity for imports of critical raw materials for manufacturing, and constrained production due to insecurity in some agricultural sites across the country.

On the other hand, core inflation increased to 16.26% from 15.75% because of price increases in gas, liquid fuel, solid fuel, garments, and passenger transport by road and by air. It should also be noted that the high cost of aviation fuel, Jet A1 drove the cost of air transport to the roof and became a major driver of the July inflation rate.

Immediate Solutions

She recommended the need for special interventions in the critical sector and especially focused on subsidizing production to reduce the burden of the rising cost of production.

According to her, there is s need for a good mix of both fiscal and monetary policies to tackle the core drivers of the inflation scourge in Nigeria.

There should be targeted financing for critical sectors like agriculture, food processing, aviation fuels, transport, and FOREX availability for manufacturing inputs.

It is obvious that the government’s intervention so far has not impacted the inflationary pressures that keep rising now. Without concrete and quick steps to intervene, the rising tide of the inflation rate may continue into the end of the year.

A major worry is about the inflation scourge constraining production, causing job losses, and courting an imminent recession.

The inflation rate may ease in the near term driven by constrained consumer demand, harvests maturing in quarter three, and the resumption of wheat exports from Ukraine to Africa.

However, there are fears of falling growth due to constrained production in the past months.

Interest Rate

“We urge the CBN to look beyond hiking rates to taking definite and articulated actions that address the factors driving the inflationary pressures.”

According to experts, food insecurity does not necessarily mean hunger, but hunger is a possible outcome of food insecurity.

At least 1.7 million people living in Lagos are food insecure despite a whopping N4.5 billion spent on food daily in the state.

Lagos is one of those cities that harbored the highest number of those who were food insecure, according to the Food and Agriculture Organisation.  

According to a report – Cadre Harmonise obtained by TechEconomy, there are a total of 1,780,194 people are food insecure in Lagos, the highest number among the 21 states in Nigeria.

Borno, Katsina, and Sokoto had 1,429,988; 1,200,906; and 1,027,646 food insecure people in their domains, as they joined in the top four ranking states with food-insecure citizens in Nigeria.

“There’s a lot of hidden hunger in Lagos, malnutrition, and people who don’t know where the next meal will come from,” says Michael Sunbola, Founder, Lagos Food Bank Initiative.

Lagos Food Bank is an organization that is using an integrated food-banking system to help improve the nutrition of pregnant women and children in Lagos and beyond.

The State only possesses a landmass of 3,345 square kilometers, the smallest in the country with over 20 million residents. It accounts for over 60 percent of industrial and commercial activities.

Generally, the crisis has plunged the country into food inflation. Inflation is soaring food prices, which could be correlated with a monetary downturn, which will contribute to the hunger crisis.

Residents of Lagos consume about N4.5 billion worth of food daily, according to State Government.

“Its residents consume about N4.5 billion worth of food daily and 50 percent of beef produced in the country running into several billion in other trading activities with markets cutting across all the local government areas in the state,” Sam Egube, Commissioner for Economic, Planning, and Budget said on Monday.

Amongst other things the Lagos State Government has done to fight food insecurity, is a partnership with the Kingdom of Netherlands to modernize farming.

With the collaboration, the state was supposed to benefit from the availability of good planting materials as well as farm equipment.

This kind of partnership will promote mechanized farming in Nigeria will aid agricultural productivity, thus reducing food insecurity. At least, over 90 percent of Nigerian farmers use manual farming methods.

“I assure you that the Lagos State Government is fully committed to achieving a food secured Lagos and Nigeria through a partnership with all national and sub-national entities as well as the private sector and international technical and donor organizations.”

The Issues

Just like other states, Lagos is pressured by current realities to intensify efforts in fighting food insecurity. Tackling this challenge goes beyond organizing seminars and signing an MoU with different organizations.

Sunbola said funding, infrastructure, food wastes, policies, and human resources are big challenges to fighting food insecurity.

“Funding is a challenge because of the demands and the number of people in need of our interventions. And, of course, building infrastructure, human resource capacity to reach people, and funding plays a huge role.

“I would also say policies. If there are policies that help curb food waste, for instance, companies are not supposed to be throwing food away.

“I am saying this from what I know. Tonnes of food are being burnt. Materials that can be useful to most vulnerable people are being burnt when people are most in need.”

According to reports, Nigerian trashes at least 189 kilogrammes of food every year, amounting to a total of 37.9 million (37,941,470) tonnes of food every 12 months.

Another issue is the heightened insecurity in several regions of the country which is affecting the production of farm produce. Lagos State must lend its voice in ensuring that the menace is combated through a collective effort.