{
  "title": "Nigeria: Selected Issues",
  "publication": "IMF Staff Country Reports, February 16, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/02/16/nigeria-selected-issues-529847",
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  "summary": "This Selected Issues paper presents stylized facts about food insecurity in Nigeria, investigates its drivers in a cross-country setting, and assesses the role of policies.",
  "sections": [
    {
      "heading": "Summary and central findings",
      "content": "- Presents stylized facts about food insecurity in Nigeria and investigates its drivers in a cross-country setting.\n- Describes regional aspects of Nigeria’s food insecurity and compares the impact of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries.\n- Provides an overview of agricultural production and consumption in Nigeria.\n- Finds the important role of inputs is evident in the policy experience of comparator countries.\n- Notes that Nigeria has achieved a substantial increase in agricultural production associated with its policies, but some policies have been less successful.\n- Reports that import dependency for key staples has not fallen and the cost of these agricultural products remains driven by international prices.\n- Finds that central bank credit to the agricultural sector has not succeeded in increasing production beyond the stimulus of high rainfall and high food prices."
    },
    {
      "heading": "Regional aspects and external shocks",
      "content": "- Compares regional aspects of food insecurity within Nigeria.\n- Compares effects of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries."
    },
    {
      "heading": "Agricultural production, consumption, and inputs",
      "content": "- Provides an overview of agricultural production and consumption in Nigeria.\n- Emphasizes the important role of inputs in raising agricultural yields and production, as seen in comparator countries’ policy experience.\n- Notes that despite policy efforts, import dependency for key staples has not fallen."
    },
    {
      "heading": "Empirical cross-country analysis of drivers",
      "content": "- Investigates drivers of food security using an empirical cross-country framework including demand, supply, and price factors.\n- Highlights price factors, including influence of international prices on domestic food costs."
    },
    {
      "heading": "Policy assessment and implications",
      "content": "- Assesses the role of policies in influencing agricultural production and food security.\n- Observes that central bank credit targeted to the agricultural sector did not increase production beyond effects from high rainfall and high food prices.\n- Offers thoughts on policies to improve agricultural yields and production, informed by cross-country evidence on the role of inputs."
    },
    {
      "heading": "Subject tags and keywords",
      "content": "- Subject: Excises, Financial inclusion, Financial markets, Food security, International organization, Mobile banking, Monetary policy, Poverty, Revenue administration, Taxes, Technology\n- Keywords: EIU FOOD INSECURITY index, Excises, Financial inclusion, food price inflation, Food security, food supply, fuel subsidy reform, Global, Mobile banking, Sub-Saharan Africa, tax revenue mobilization, World wheat price inflation\n\n---\n\n Content in this bundle\n\n- Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023\n  - Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 16, 2023",
    "Series: IMF Staff Country Reports",
    "Presents stylized facts about food insecurity in Nigeria and investigates its drivers in a cross-country setting.",
    "Describes regional aspects of Nigeria’s food insecurity and compares the impact of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries.",
    "Provides an overview of agricultural production and consumption in Nigeria.",
    "Finds the important role of inputs is evident in the policy experience of comparator countries.",
    "Notes that Nigeria has achieved a substantial increase in agricultural production associated with its policies, but some policies have been less successful.",
    "Reports that import dependency for key staples has not fallen and the cost of these agricultural products remains driven by international prices.",
    "Finds that central bank credit to the agricultural sector has not succeeded in increasing production beyond the stimulus of high rainfall and high food prices.",
    "Compares regional aspects of food insecurity within Nigeria.",
    "Compares effects of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries.",
    "Provides an overview of agricultural production and consumption in Nigeria.",
    "Emphasizes the important role of inputs in raising agricultural yields and production, as seen in comparator countries’ policy experience.",
    "Notes that despite policy efforts, import dependency for key staples has not fallen.",
    "Investigates drivers of food security using an empirical cross-country framework including demand, supply, and price factors.",
    "Highlights price factors, including influence of international prices on domestic food costs.",
    "Assesses the role of policies in influencing agricultural production and food security.",
    "Observes that central bank credit targeted to the agricultural sector did not increase production beyond effects from high rainfall and high food prices.",
    "Offers thoughts on policies to improve agricultural yields and production, informed by cross-country evidence on the role of inputs.",
    "Subject: Excises, Financial inclusion, Financial markets, Food security, International organization, Mobile banking, Monetary policy, Poverty, Revenue administration, Taxes, Technology",
    "Keywords: EIU FOOD INSECURITY index, Excises, Financial inclusion, food price inflation, Food security, food supply, fuel subsidy reform, Global, Mobile banking, Sub-Saharan Africa, tax revenue mobilization, World wheat price inflation",
    "**Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023**"
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