FG’s intervention drives down food prices- Minister
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has attributed the recent drop in food prices to the federal government’s strategic interventions under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
In an interview with journalists in Abuja, Kyari explained that since Tinubu declared a state of emergency on agriculture, food security has been a top priority.
Through extensive dry and wet season farming initiatives, the government has worked to ensure food sufficiency across the country.
“The president has taken bold steps in rolling out agricultural intervention programs aimed at boosting food production for national self-sufficiency,” Kyari stated.
He highlighted that in the first phase of the government’s intervention, support was provided for wheat, rice, maize, and cassava production.
According to him, a total of 12,000 farmers received a 50% discount on farm inputs, leading to the cultivation of 12,000 hectares and the production of nearly 500,000 tons of wheat.
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‘’The second phase targeted sorghum, soybeans, and millet, further increasing supply and contributing to the decline in food prices,’’ Kyari said
“You know when you apply the economic theory of demand and supply, food prices naturally drop.
“There is now an abundance of produce, and the government is working to sustain this trend while ensuring farmers remain encouraged to cultivate more,” the minister added.
Kyari dismissed claims that the government had resorted to food importation, emphasizing that local farmers played a crucial role in meeting demand.
“The government has not imported any grains. What happened was that farmers rose to the occasion, increased productivity, and expanded supply, which led to the drop in prices,” he explained.
To further support farmers, Kyari revealed that President Tinubu approved the distribution of 100,000 metric tons of fertilizer—equivalent to 2,150,000 bags—free of charge last year.
This subsidy significantly lowered production costs, making food more affordable for Nigerians.
Also, checks confirmed that food prices have dropped nationwide, with the National Bureau of Statistics (NBS) reporting a 40% decline.
In Katsina State, farmers expressed appreciation for the federal government’s intervention, particularly the subsidization of farm inputs such as fertilizer and insecticides.
The Sarkin Noma of the area, Alhaji Ibrahim Falalu, stated that these efforts had significantly boosted agricultural output compared to previous years when such support was lacking.
As the government continues to explore ways to stabilize prices and encourage local production, farmers and consumers alike are hopeful that the positive impact on food security will be sustained.
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