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Food and Agriculture Organization of the United Nations (FAO) Aims to Provide Livelihood Assistance to Nearly 49 Million People in 2021

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Food and agriculture organisation of the United Nations

As the COVID-19 pandemic, conflict and climate-related crises drive acute levels of hunger higher, the Food and Agriculture Organization of the United Nations (FAO) is seeking $1.1 billion in 2021 to save the lives and livelihoods of some of the world’s most food-insecure people.

In 2021, FAO is aiming to reach more than 48.9 million people who rely on agriculture for their survival and livelihoods through interventions aimed at boosting local food production and nutrition, while strengthening the capacity and resilience of communities to prepare for and cope with crises, as well as providing post-disaster livelihoods support to help people resume production.

According to FAO’s latest data, country after country has recorded new food insecurity figures and the total number of people who experienced acute food insecurity at crisis or worse levels in 2020 is expected to exceed 2019’s high of 135 million people. This year’s Global Report on Food Crises , to be launched by the Global Network against Food Crises in April, will underscore the severity of the situation.

“The shocks of the past year will reverberate long into 2021 and beyond, and we need to urgently scale up actions to avert a worst-case scenario,” said Dominique Burgeon, Director of FAO’s Emergencies and Resilience Division.

Of extreme concern are the estimated 30 million people in Integrated Food Security Phase Classification (IPC) Phase 4 or Emergency levels of acute hunger, who are already experiencing excess mortality and the irreversible loss of vital livelihood assets.

Hundreds of thousands of girls, boys, women and men are at extreme risk of acute food insecurity in several countries. Many are living in conflict zones where humanitarian access is restricted or challenging.

“Millions are living on the precipice – one stress or shock away from a rapid deterioration. With or without famine declarations, we need to act now,” Burgeon added.

Many depend on agriculture for their lives and livelihoods

Agriculture is critical as nearly four out of five people live in rural areas and rely on some form of agricultural production for their livelihoods. The most severe manifestation of acute hunger remains a largely rural phenomenon so averting famine must therefore begin in rural areas and include large-scale and collective action to save livelihoods and lives.

FAO has already provided critical livelihood support to safeguard the livelihoods of over 24 million people against the socio‑economic impacts of COVID-19. Desert Locust control operations have also had an impact in the Greater Horn of Africa and Yemen where FAO has protected over 3.1 million tonnes of cereal, worth $939 million, enough to feed more than 20.8 million people for a year and protect more than 1.5 million pastoral households.

With FAO’s support, those affected can have the means and the capacity to produce the food needed to stave off acute hunger.

FAO targets assistance to acutely food insecure

FAO’s emergency response in 2021 will focus on providing assistance to highly food-insecure communities in more than 30 countries including the Democratic Republic of the Congo, Ethiopia, Somalia, South Sudan, Syria and Yemen.

Yemen is suffering the world’s worst humanitarian crisis as a consequence of conflict and economic collapse. Farmers have also had to deal with Desert Locusts and natural disasters. FAO aims to reach 6.3 million people with high impact interventions combining cash and agricultural livelihoods support and promoting community resilience.

In Syria, 12 million people will benefit from restoring agricultural livelihoods and value chains while in Ethiopia, the Organization aims to assist 6.7 million people facing acute hunger and another 6 million people in South Sudan to improve their food security, resilience and agricultural production.

Recognizing that close monitoring and agility are crucial tools in preventing rapid deterioration, FAO will continue to expand its anticipatory action linked to early warnings in 2021 to protect livelihoods before a disaster.

“We will continue investing in the most vulnerable people and their livelihoods so that they can lead their future recovery and pull themselves out of acute hunger,” said Burgeon.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Economy

U.S Senate Passes $749 Billion Inflation Reduction Act

The United States Senate has voted in support of President Joe Biden’s $749 billion Inflation Reduction Act expected to rein in America’s over 40-year high inflation rate, support American families by reducing everyday energy costs and compel the richest corporations in America to pay their taxes.

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The United States Senate has voted in support of President Joe Biden’s $749 billion Inflation Reduction Act expected to rein in America’s over 40-year high inflation rate, support American families by reducing everyday energy costs and compel the richest corporations in America to pay their taxes.

Explaining the significance of the bill, the President said it will reduce the federal deficit by over $300 billion and cap seniors’ out-of-pocket spending on prescription drugs at $2000 a year, no matter what their drug bills would otherwise be, seniors citizens will not pay more than $2000.

Also, 13 million Americans presently under the Affordable Care Act, will save $800 on their health insurance premium a year.

“This bill tackles inflation by lowering the deficit and lowering costs for regular families,” President Biden declared.

Americans earning below $400,000 a year will not pay any new taxes while the wealthiest corporations will now be paying 15% on income, estimated at $40 billion in 2020. The bill will ensure America invests $369 billion in clean energy and addresses the climate crisis.

“It also gives consumers a tax credit to buy any electric vehicle or fuel cell vehicle, new or used, and a tax credit for up to $7,500 if those vehicles were made in America.

“This investment in environmental justice is real. It also provides tax credits that will create thousands of good-paying jobs — manufacturing jobs on clean energy construction projects, solar projects, wind projects, clean hydrogen projects, carbon capture projects, and more — by giving tax credits for those who build these projects here in America,” President Biden stated.

Speaking on the milestone, President Joe Biden said “I ran for President promising to make government work for working families again, and that is what this bill does — period.”

President Biden would be expected to sign the Act into law once the House of Representatives passed it.

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Economy

NRC Suspends Train Service on Lagos-Kano, Ajaokuta Routes

The Nigerian Railway Corporation (NRC) has suspended train services on the Lagos- Kano and Ajaokuta routes.

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Lagos-Ibadan Train Services - Investors King

Following the recent terrorist attacks in various parts of the country, the Nigerian Railway Corporation (NRC) has suspended train services on the Lagos- Kano and Ajaokuta routes.

Also, train services were reported to have been suspended at Ajaokuta station along the Warri-Itakpe route by the NRC after the attack on some passengers by gunmen on Monday.

According to a statement from the Ministry of Transportation and the NRC, the train services would be suspended until the security of those routes is assured.

The Managing Director for NRC, Fidet Okhiria, who confirmed the news about the suspension, noted that the corporation did not stop train services on the Warri-Itakpe route.

Okhiria said: “We have not stopped (services), rather what we said was that we are not going to be stopping at the Ajaokuta station.

“This is because on Monday, while passengers were leaving the station with their private cars and buses, they had people shooting at them. So we said we will not stop there again for passengers.

“The train is still running, but for now we will not be stopping at Ajaokuta because they have some concerns there.”

Investors King recalls that the NRC had, on 29th of March, suspended train service operations on the Abuja -Kaduna axis as a result of a terrorist attack that left about 8 dead, injured many and led to the kidnap of about 200 persons.

Meanwhile, the Federal Government has hinted that as soon as all security measures are put in place, train services for the Abuja -Kaduna axis would resume.

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Economy

Hard Times For Nigerians As Price Of Kerosene Rises to N800 Per Litre

Nigerians are again faced with a new dilemma, as the price of kerosene skyrocketed to N800 per litre over the weekend.

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Kerosene

Just a few weeks after adjusting to the new prices of petrol, diesel and gas, Nigerians are again faced with a new dilemma, as the price of kerosene skyrocketed to N800 per litre over the weekend.

Investors King recalls that as of last week, kerosene, which is used majorly in the average Nigerian household, was sold at the rate of N700 per litre.

However, a new market survey carried out by Investors King revealed that as of August 2, kerosene was sold between N800 and N850 per litre in some urban parts of Lagos, and in some suburb filling stations, the commodity was sold as high as N1000 a litre.

Speaking on the increment,  the National Operations Controller, Independent Petroleum Marketers Associations of Nigeria, IPMAN, Mike Osatuyi attributed the hike in the price of kerosene to the exchange rate.

While noting that Kerosene is a deregulated market, Osatuyi added that the petroleum product is subservient to change as a result of shifts in the market.

He said: “It’s a deregulated market. It is also a function of the dollar to naira rate and the crude price at the international market. Since cooking kerosene is deregulated, prices can go up, it can also come down”.

 Similarly, the Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, in an interview, disclosed that the ever-increasing exchange rate is one of the reasons for the rise in the price of kerosene.

Cooking kerosene is deregulated so prices depend on foreign exchange. A dollar is now 700 Naira from 600 Naira just last month, so prices will surely increase”, he said.

Meanwhile, an energy expert, Bala Zakka, attributes the reason behind this continuous sharp price increase to Nigeria’s inability to produce and refine its own petroleum products for local consumption, despite the abundance of crude oil within its borders.

Taking to social media, many Nigerians have continued to complain about the hike in price, as well as the country’s harsh economic situation.

Critics find it more appalling that Ghana which has no oil within its borders, sells kerosene to its citizens at the price of 12.044 GHS, an equivalent of 585 Naira per litre.

 To this end, many Nigerians have taken to their social media pages to complain about these hard times.

Investors King gathered that apart from the increment in the price of kerosene, the price of fuel also increased, as a litre is now being sold for N179.

However, if this trend continues, there are indications that feeding might be a challenge for the less privileged.

Recall that in July, the National Bureau of Statics (NBS), in a report, disclosed that the average price of Kerosene rose from 679.54 in May 2022, from 589.82 which it was in April, equating to a 15.21 percent increase.

The report further stated that the average retail price per litre of Household Kerosene paid by consumers in June 2022, increased by 12.09%, while the state profile analysis of average price in May 2022 varied with Enugu ranking first, as the state with the highest paying price of 868.75 per litre for kerosene, while other states juggled between N558 and N700 per litre.

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