Flooding across Nigeria has killed more than 600 people, demolished homes and left hundreds of thousands of farmland acres ruined. The damaging effects from weeks of flooding caused Nigeria to battle with fuel and food shortage scares and has led to an uptick in inflation rates.
Nigeria is experiencing its worst flooding since 2012. This time leaving more than 2 million people without homes and over 200,000 homes damaged. Of Nigeria’s 36 states, 33 have suffered from the severe flooding.
According to The Wall Street Journal, farmers have lost over 800 acres of land, which is nearly equivalent to the size of Rhode Island. This issue leaves Nigeria in shambles as farmers are the main resource for the country’s food supplies. The region was struggling with an unprecedented hunger crisis prior to the floods where more than 200 million people rely on the yams, corn and sorghum the farmers produce. As the food crisis continues to worsen, the U.N.’s World Food program expects inflation rates to substantially increase for the country.
In addition, the floods have impacted Nigeria’s gas exports significantly. According to The Wall Street Journal, gas supplies to Nigeria’s largest gas producer, Nigeria LNG Ltd., have been severed and forced the company to declare force majeure. For Nigeria LNG Ltd., force majeure protects the company from liabilities in the event they cannot fulfill prior obligations because of the catastrophic and unforeseen impacts from the flooding.
As the war between Ukraine and Russia continues, the gas supply effects occurring in Nigeria adds to the global supply crisis as Europe struggles to replace Russian gas exports. This raises experts’ concerns for the global supply chain as Nigeria is the largest gas export in sub-Saharan Africa.
Inflation rates are largely a conversation across many countries and continents, including the United States. Inflation hits a new high after 17 years as food prices soar and Nigeria’s local currency depreciates. The country is dealing with double-digit inflation rates of 21%, a significant value of inflation since Macro Trends shows the average inflation rate for Nigeria from 2018 to 2020 was 12.25%. The World Bank has also made statements claiming Nigeria may struggle to service its $103 billion public debt this year.
The Wall Street Journal reported that World Food Programme’s (WFP) region director for Western Africa Chris Nikoi said, “These floods act as a misery multiplier and are the final straw for communities already struggling to keep their heads above water.”
In response to the food and gas crisis from the Nigerian floods, aid relief agencies have been delivering tents, food and other necessities to flood victims. However, humanitarian officials warn these alternative living conditions could spike an outbreak in diseases as the floods spread across the country.
Additionally, officials have warned people that the floods will continue to worsen as more rain is expected in the coming weeks for Nigeria. Those who live along the Niger and Benue rivers should take the most precautions as rain storms intensify.
