(3 minutes read)
- People who fled their homes and lost their livelihoods due to the ongoing conflict in the North-East of Nigeria are struggling to get one – day food because of hyperinflation, which touched a four-year record high
- In March, the inflation was 18 percent, according to Nigeria’s National Bureau of Statistics
- People displaced by the conflict are among the most vulnerable and are disproportionately affected by price fluctuations
People who fled their homes and lost their livelihoods due to the ongoing conflict in the North-East of Nigeria are struggling to get one – day food because of hyperinflation, which touched a four-year record high. In March, the inflation was 18 percent, according to Nigeria’s National Bureau of Statistics. People displaced by the conflict are among the most vulnerable and are disproportionately affected by price fluctuations.
Over a decade of armed conflict has left more than two million people displaced in the North-East of Nigeria. It is one of the world’s most complex humanitarian emergencies. People have lost their livelihoods and many of them struggle to meet their essential needs.
According to official statistics, 40 percent of Nigeria’s population, or almost 83 million people, live below the country’s poverty line of 382 per year. The ICRC provides for rehabilitation facilities for groups who lost their income due to the ongoing armed conflict to enable people to start small businesses. However, the steep inflation of the past year has hit them hard and an increasing number of people are struggling to keep their businesses afloat.
In 2020, more than 16,000 people received cash for investment through the ICRC’s micro-economic grants. Over 170 entrepreneurs received grants through the ICRC-Tony Elumelu Foundation partnership to start their own businesses.
