Hunger spread and issues in government agricultural sector financial policies: Analysis of food security financing in Nigeria
DOI:
https://doi.org/10.15282/jgi.7.2.2024.11133Keywords:
Agriculture, Farmer, Finance, Food security , Rural area, NigeriaAbstract
Although food security remains a problem in sub-Saharan Africa, studies have not assessed how food security financing propels food insecurity in Nigeria. The study analyses food security financing in Nigeria, explains the implications of finance accessibility for food supply in the country, and describes the challenges confronting food security financing in the country. The Public Interest Theory was adopted for the study from the perspective that whilst common goals are absent, different individuals pursue their goals separately, and this manifests as the profit-making objective of farmers or food suppliers. The study adopted an integrative literature review method to purposively select a total of 20 peer-reviewed journal articles published between the years 2018 and 2023. Data were collected through content analyses and thematically presented. The study revealed that food security is financed by individual farmers following poor funding from the government. The sources of funds available to individuals are both formal and informal. The implication of access to finance by those in the agricultural sector including farmers has been identified to include an increase in food supply. The challenges confronting food security have been identified to include profit motives by producers inducing inflation, climate change, poor electricity supply, insecurity, and inadequate finance. The study submitted that finance is key to attaining food security in Nigeria.
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