Senior Advocate of Nigeria Olisa Agbakoba has issued a stark warning to the Federal Government about the imminent threat of “hunger riots” due to the escalating food insecurity in the country.
Speaking to journalists at his Ikoyi, Lagos office on Tuesday, Agbakoba highlighted the urgent need to address the widespread inability of many Nigerians to afford basic food necessities amid severe poverty.
Despite Nigeria’s abundant oil and gas resources, Agbakoba argued that the benefits are not reaching the populace but are instead being monopolized by foreign interests. He warned that the growing desperation among Nigerians could soon lead to mass protests, with people resorting to looting homes and shops for food in broad daylight.
“Hunger riots can erupt at any moment in Nigeria,” Agbakoba cautioned, urging President Bola Tinubu to take decisive action by restructuring his cabinet and reducing the cost of governance. He criticized the current administration for its large cabinet size, suggesting that Nigeria only needs around 20 ministries rather than the current over 40.
Agbakoba also called for the elimination of certain government agencies and an expansion of the tax net to include multinational oil companies, which he accused of tax evasion. “Instead of increasing taxes, just expand the tax net and target non-compliant international oil companies (IOCs),” he advised.
Reports indicate that Nigerians are struggling more than ever to feed themselves, with food inflation hitting 40.66% in May. The cost of food has surged by 61%, rising from 25.25% in June 2023 to 40.66% in May 2024, according to the latest Consumer Price Index and Inflation report by the National Bureau of Statistics (NBS).
The NBS report highlighted that headline inflation increased slightly to 33.95% in May from 33.69% in April, marking the highest inflation rate in 28 years since March 1996. The significant rise in food and transportation costs is contributing to this inflation spike.
Agbakoba stressed that immediate and effective measures are crucial to prevent the imminent threat of hunger riots across the nation.
