Minister of Agriculture and Food Security, Senator Abubakar Kyari, has declared that food prices across Nigeria have significantly dropped...
Minister of Agriculture and Food Security, Senator Abubakar Kyari, has declared that food prices across Nigeria have significantly dropped, crediting the development to the strategic interventions of President Bola Ahmed Tinubu’s administration.
Speaking during an interview on ARISE Television on Friday, Kyari said the administration’s policies—particularly the combination of production support and temporary importation—were designed to tackle deep-rooted structural challenges in the agricultural sector, and are now beginning to yield tangible results.
“Food prices have crashed across the country,” Kyari said confidently. “President Tinubu came in at a time when the agricultural sector was experiencing massive structural imbalances. That’s why he declared a state of emergency on food security in July 2023.”
The minister defended the administration’s temporary food importation strategy, noting that it was a necessary short-term measure to bridge existing gaps in local production without discouraging domestic farmers.
“For instance, we have about a 15% shortfall in rice production. To address this, the government opened an import window for just six months to stabilise the market. That window has since closed,” he explained.
Kyari added that while imports helped address immediate food shortages, long-term efforts have focused on boosting local production. He cited key initiatives such as the presidential directive to release two million bags of fertiliser through the Central Bank of Nigeria for free distribution to farmers, as well as programmes that provided fertiliser subsidies at 50% of the market cost.
“These interventions helped increase agricultural output in 2024. So, when we talk about food availability and pricing, you’re now seeing the impact of those measures,” the minister said.
He also stressed that food security is not just a production issue, but a matter of market dynamics, including supply, demand, and distribution networks. “We have the tools to manage these imbalances,” Kyari added, noting that even past administrations—such as that of a former African Development Bank president—had to import food during crises.
President Tinubu recently instructed a Federal Executive Council (FEC) committee to urgently implement measures aimed at further reducing food prices and ensuring availability nationwide.
The minister's remarks come amid growing public concern over the cost of living, especially food inflation. However, Kyari’s assurance signals a turning point, as the government intensifies efforts to stabilise the agricultural sector and achieve long-term food sufficiency.
No comments