Poor rains in 2017 affected livestock across the pastoral areas of the Sahel. Persisting insecurity hampers access of animals to the grazing areas in northeastern Nigeria, northern Mali and the Lake Chad Region. Large concentrations of livestock in safe areas are resulting in shortages of pasture and depressed prices of livestock products and incomes for pastoralists. Prices of cereals are generally at high levels as demand is reinforced by the return of transhumant pastoralists moving from southern areas to northern normal grazing areas. Livestock prices are at low levels due to declining export demand from Nigeria, resulting in decreasing terms of trade and reducing pastoralists’ access to food. Around 2.5 million pastoralists and agro pastoralists are food insecure, and a high risk of livelihood losses are expected during the lean season if mitigation actions are not taken. Timely support to pastoralists’ livelihoods is needed to prevent a deterioration of their food security situation and undesirable macro economic implications.