## Nigeria: Selected Issues

_IMF Staff Country Reports, February 16, 2023_

## Source details

**Canonical URL:** [Nigeria: Selected Issues](https://www.imf.org/en/publications/cr/issues/2023/02/16/nigeria-selected-issues-529847)

## Other formats

- [Markdown version](/en/publications/cr/issues/2023/02/16/nigeria-selected-issues-529847/index.md)
- [Structured JSON version](/en/publications/cr/issues/2023/02/16/nigeria-selected-issues-529847/index.json)
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## Bibliographic details
- Published: February 16, 2023
- Series: IMF Staff Country Reports

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### Summary and central findings
- 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.

### Regional aspects and external shocks
- 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.

### Agricultural production, consumption, and inputs
- 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.

### Empirical cross-country analysis of drivers
- 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.

### Policy assessment and implications
- 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 tags and keywords
- 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

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## Content in this bundle

- **Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023**
  - [Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023 (Markdown version)](/-/media/files/publications/cr/2023/english/1ngaea2023002.pdf.md){rel="alternate" type="text/markdown"}
  - [Nigeria: Selected Issues; IMF Country Report No. 23/94; January 12, 2023 (PDF)](/-/media/files/publications/cr/2023/english/1ngaea2023002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2023/02/16/nigeria-selected-issues-529847_