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World Bank Urges Nigeria To Boost Nutrition Investment, Promises $23 Return

by Emelda Johnson
October 22, 2024
in Business
World bank

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The World Bank has called on Nigeria to increase its investment in nutrition programs, highlighting the potential for significant economic returns. According to the global financial institution, every dollar spent on nutrition could yield up to $23 in returns, especially as Nigeria battles high rates of child stunting and maternal anemia.
This appeal comes at a time when malnutrition poses severe challenges to Nigeria’s health sector and economic development. Currently, over 11 million Nigerian children suffer from stunting, and more than half of pregnant women are anemic, leading to long-term impacts on labor productivity and healthcare costs.
The World Bank’s Investment Framework for Nutrition emphasizes that improving nutrition is key not only to health but also to economic growth. In Nigeria, where malnutrition has long-term economic consequences, the potential returns could be even higher than the global average, with an estimated $23 gained for every dollar invested in nutrition programs.
This framework underscores that Sub-Saharan Africa, including Nigeria, will require an additional $34 billion annually to meet nutrition targets. The focus for Nigeria should be on affordable interventions, including improving maternal and child healthcare, fortifying staple foods, and promoting breastfeeding.
Beyond health, investing in nutrition has far-reaching economic benefits for Nigeria. Under-nourished children grow into underproductive adults, reducing labor productivity and increasing healthcare costs. By improving childhood nutrition and addressing maternal anemia, Nigeria can unlock its full labor potential while reducing future healthcare expenditures.
These investments will also align with Nigeria’s commitment to achieving the United Nations’ Sustainable Development Goals (SDG 2), which focus on ending hunger and improving food security.
To fund these essential nutrition programs, Nigeria must explore innovative financing strategies, such as repurposing agricultural subsidies, increasing taxes on unhealthy foods like sugary beverages, and utilizing climate funds to combat food insecurity.
In addition, Nigeria can tap into social bonds and private sector partnerships to boost nutrition investments. Strengthening regulations on food fortification, expanding public healthcare services, and raising public awareness about dietary diversity will be essential in ensuring long-term success.
With the 2025 Nutrition for Growth Summit approaching, Nigeria has an opportunity to significantly scale up its efforts to combat malnutrition, improve labor productivity, and enhance overall economic growth, all with the backing of the World Bank.
Tags: world bank
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