Bioeconomy and Food Security SDG 2: Case Study of Nigeria

The population of the world is increasing with the needs of the population also increasing while the nature is fixed in supply. This supports Malthus theory of population that human population grows exponentially and food grows arithmetically. Malthus theory explains that the power of the earth to produce subsistence for humans is lower than the power of population which increases over time. However, the theory has neglected the possibility of an increase in technological knowledge and inventions in agriculture to solve the problem of law of diminishing returns that faces the earth. In addition, Covid-19 pandemic came as a treat to the achievement of SDGs. Thus, to achieve SDGs, in particular food security, the government of Nigeria has adopted bioeconomy through biotechnological processes. Bioeconomy can be defined as the sustainable, eco-efficient transformation of renewable biological resources into food, energy, and other industrial products. This study, therefore, examines the effect of bioeconomy on food security while bioeconomy is measured via GDP approach. The study shows that bioeconomy enhances food security (SDG 2) in Nigeria to an extent. It, therefore, recommends that the government should engage in extensive awareness of biotechnology for the needs of the increasing population to be met, thus promote sustainable development. Farmers who are the main food producers should be encouraged to use biofortified seeds to improve the nutritional value of staple crops, this is to ensure that the people of the economy are food secured regardless of the increase in population.