Nigeria reports food price drop as stakeholders back agriculture push
Government says local farm support and higher production have started to ease pressure on food prices.
NIGERIA – Nigeria’s agriculture push has started to show results, with officials reporting lower food prices and stronger farm production across key crops.
Stakeholders from across Nigeria’s food sector met in Abuja this week to review progress in the country’s agriculture drive and discuss ways to strengthen food supply and farm incomes.
The Federal Ministry of Agriculture and Food Security hosted the 2026 Ministerial Stakeholders Engagement Retreat at the Yar’Adua Centre. Policymakers, farmers, agribusiness leaders, civil society groups, and development partners joined the meeting to review results from the last two years and discuss the next steps for the sector.
Senator Abubakar Kyari, Minister of Agriculture and Food Security, said the government places food security at the centre of national policy and wants stronger cooperation across the entire food chain.
“This platform represents our shared commitment to collaboration and collective action towards achieving food security,” Kyari said during the opening session.
He added that the ministry wants policies to reflect real experiences from farmers, processors, and other actors in the sector.
Food prices fall as production rises
Kyari told participants that food prices have dropped by about 50 percent in many parts of the country. He said higher domestic production and better supply systems helped ease pressure on food markets.
“We are focusing on increasing local production and reducing reliance on imports so that affordable and nutritious food becomes accessible to all Nigerians,” he said.
The government has focused support on several key crops, including rice, maize, wheat, millet, sorghum, cassava, yam, cocoa, soybean, cotton, tomato, onion, cowpea, kenaf, and oil palm.
Officials said the ministry distributed more than 1.9 million bags of fertiliser to close to one million farmers. Authorities also supplied over 12,000 litres of organic fertiliser and trained inspectors to improve fertiliser quality control.
A recent survey by the National Agricultural Extension and Research Liaison Services reported higher output for major crops such as rice, maize, sorghum, millet, cowpea, yam, and cassava.
Infrastructure and finance support farmers
The ministry has also expanded infrastructure and agribusiness facilities. Authorities have built modern markets, ten processing plants across the country’s six regions, and seven compact flour milling factories.
Two agribusiness incubation centres now operate at the Federal University Lokoja and Michael Okpara University of Agriculture in Umudike to support young entrepreneurs.
The government has also improved rural access roads and installed water systems and solar lighting in farming communities.
Access to finance remains a major issue for many farmers. To address this, the government approved a ₦250 billion facility for the Bank of Agriculture, equal to about US$156.3 million, to provide loans at single digit interest rates.
The Nigerian Agricultural Insurance Corporation has also expanded coverage for farmers. The agency supported 199,275 farmers with ₦700 billion in risk cover, about US$437.5 million. It generated ₦2.43 billion in premium income, around US$1.5 million, and paid ₦200 million in claims, about US$125,000.
Dr. Marcus Ogunbiyi, Permanent Secretary in the ministry, said cooperation across sectors remains key.
“Agriculture and food security are not the responsibility of government alone but a shared national endeavour,” Ogunbiyi said.
Food reserves and new farm programmes
Officials also highlighted programmes aimed at improving food supply. The government continues to expand national food reserves to reduce shortages during crises.
Another programme, the Special Agro Industrial Processing Zones initiative, has started activities in Kano, Kwara, and the Federal Capital Territory. The project receives support from the African Development Bank and other partners.
Authorities also continue to promote youth and women participation in farming and support the “Every Home a Garden” initiative led by First Lady Oluremi Tinubu to encourage household food production.
Officials say these efforts aim to improve food supply while encouraging wider public participation in agriculture.
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