National Economy
Wednesday, August 6, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Agriculture

As Experts Offer Solutions To Sustain Falling Food Prices

by Adegwu John
2 months ago
in Agriculture
Reading Time: 2 mins read
price,As Experts Offer Solutions To Sustain Falling Food Prices
Share on FacebookShare on TwitterShare on Telegram

Despite a recent decline in the prices of major staple foods in Nigeria, experts have warned that the resurgence of middlemen hoarding practices could derail the fragile progress in food affordability.
While Nigeria’s food market remains highly volatile, grains like maize and rice have seen notable price drops but prices of other essential food items such as meat, vegetables, fruits protein-rich foods and perishables are still rising due to seasonal factors and hoarding.

A market survey show that between December 2024 and May 2025, Nigeria experienced sharp price declines in staples where local rice dropped from N106,000 to N95,000 per 50kg bag, and tomatoes plummeted from N120,000 to N44,750 per big basket. While price of maize decreased to N48,000 and N52,000 per 100 kg bag from the initial N60,000 and N65, 000.

However, other items have trended upward. frozen fish prices more than doubled to N12,900, while pepper spiked to N140,000 and and 5kg pack of Semovita increased to 7,400.
The cost of meat and vegetable oil and onions have also continues to strain Nigerian households.
Experts agreed that beyond short-term interventions by the government, structural reforms including better rural infrastructure, farmer empowerment and transparent food distribution are essential to achieving lasting food security.

Professor I.U. Abubakar, former executive-director of the Institute for Agricultural Research, Ahmadu Bello University, Zaria, attributed the initial food crisis to a supply-demand mismatch, exacerbated by insecurity, climate-related challenges and poor agricultural infrastructure.
According to him, recent government action, such as the duty-free importation of rice and maize helped ease the pressure, resulting in a noticeable reduction in staple prices.

You May Like

FG Backs Tech-enabled Youth-led Agribusiness Shift

How Taraba Farmers Will Benefit From N500bn ‘Produce For Lagos’ Deal

“The food situation before now was catastrophic, demand-pushed inflation made food unavailable and unaffordable even for middle-income earners, protein sources became a luxury for many families.
“Today, the cost of grains has fallen. It’s a good step, but it doesn’t mean we’ve achieved food security,” Abubakar cautioned.
Abubakar warned that these disparities are partly caused by hoarding activities of intermediaries.

“Middlemen are hoarding food, creating artificial scarcity to profit, thhis must be urgently addressed if we’re to stabilise the market and achieve food security,” he noted.
While government efforts are acknowledged, stakeholders warned that without strong regulatory enforcement and farmer-centric solutions, profiteering by intermediaries may continue to undermine consumer relief and stall national food sufficiency goals.

Speaking on the hoarding, national president of the All Farmers Association of Nigeria (AFAN), Arc Kabir Ibrahim, acknowledged a visible drop in food prices, citing it as a sign of easing inflation.
However, the farmers’ helmsman emphasised that market realities remain harsh for many Nigerians.

“If we have a transparent and seamless distribution of agricultural produce, and a functioning consumer protection policy, the profiteering attitude of middlemen can be checked,” he argued.
He urged the government to support farmers in scaling up productivity through security, mechanisation, and climate mitigation, while also ensuring efficient food storage and ditribution systems.
“It is the only way to make the gains in food price reduction sustainable,” Ibrahim said.

Meanwhile, the national president of the Potato Farmers Association of Nigeria (POFAN), Daniel Okafor, dismissed recent reports of improved food affordability describing it as real.
“It is not real, the food inflation and hardship is ongoing,” he said.

Okafor called on the government to establish dedicated farmers’ markets in all local governments to eliminate the exploitative role of middlemen.
“Farmers should be allowed to market their products directly, the government must carry farmers along in policymaking and implementation.
“A direct-to-consumer sales model will not only ensure fair prices for farmers but also reduce costs for consumers,” Okafor maintained.

Tags: As Experts Offer Solutions To Sustain Falling Food Prices
ShareTweetShare
Previous Post

Diversifying Investment Portfolio, Infrastructure Development Via Sovereign Sukuk

Next Post

NSF 2024: Team Delta Wins Women’s Football Gold

ANOTHER GOOD READ

FG Backs Tech-enabled Youth-led Agribusiness Shift
Agriculture

FG Backs Tech-enabled Youth-led Agribusiness Shift

8 hours ago
How Taraba Farmers Will Benefit From N500bn ‘Produce For Lagos’ Deal
Agriculture

How Taraba Farmers Will Benefit From N500bn ‘Produce For Lagos’ Deal

2 days ago
How Taraba Farmers Will Benefit From N500bn ‘Produce For Lagos’ Deal
Agriculture

How Taraba Farmers Will Benefit From N500bn ‘Produce For Lagos’ Deal

2 days ago
Unlocking Sustainable Finance For Nigeria’s Horticulture Sector
Agriculture

Unlocking Sustainable Finance For Nigeria’s Horticulture Sector

2 weeks ago
How Climate Change Is Affecting Food Safety
Agriculture

How Climate Change Is Affecting Food Safety

3 weeks ago
Nigeria’s Low Farming Technology Adoption
Agriculture

Nigeria’s Low Farming Technology Adoption

1 month ago
Next Post
NSF 2024: Team Delta Wins Women’s Football Gold

NSF 2024: Team Delta Wins Women’s Football Gold

Most Recent

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

NADDC Rallies Stakeholders For Local Content Push In Nigeria’s Auto Industry

August 6, 2025
NSDC Rallies Investors To Seize $2bn Sugar Market

NSDC Rallies Investors To Seize $2bn Sugar Market

August 6, 2025
NAICOM Appoints Interim Board To Oversee African Alliance Insurance

NAICOM Issues New Rules For Insurtech Firms

August 6, 2025
FG Backs Tech-enabled Youth-led Agribusiness Shift

FG Backs Tech-enabled Youth-led Agribusiness Shift

August 6, 2025
SEREC Backs Customs’ Digital Drive To Tackle Cartels, Smuggling Customs

Nigeria Customs Launches Service Reputation Management Guide

August 6, 2025
Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1

Lagos, Rivers, Delta Top Nigeria’s Subnational Debt Chart In Q1

August 5, 2025
‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals

‘Banks Sent Pretty Ladies To Me For Deposit, Asked Thugs To Recover Debt’, Billionaire Otedola Reveals

August 5, 2025
Tinubu Approves N4.2bn For 158 TETFund Research Projects

Tinubu Approves N4.2bn For 158 TETFund Research Projects

August 5, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy