Cost-of-living crisis: Tinubu approves massive, duty-free importation of rice, wheat, beans, others

Nigerian agriculture is under siege from insecurity, forcing farmers like Jamiu Ibrahim to hire expensive armed guards. This security expense is passed on to consumers, contributing to soaring food prices. Farmers are abandoning fields due to high costs and extortion, leading to decreased food production. Kabiru Ibrahim highlights the lack of infrastructure, exacerbating the crisis. Banditry and farmer-herder clashes further threaten food security. Long-term solutions include robust storage facilities, better transportation, enhanced security, and technology-driven agriculture. Investing in these areas is crucial to ensuring food security and affordability in Nigeria. Source: BusinessDay

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The escalating insecurity in Nigeria’s agricultural sector is profoundly impacting food production and prices. Farmers are forced to spend exorbitant amounts on private security to protect their fields from bandits and kidnappers. This additional cost is ultimately transferred to consumers, exacerbating food inflation. To address this, Nigeria must invest in robust infrastructure, enhance security measures, and adopt technology-driven agriculture. Strengthening the entire value chain, from production to distribution, is crucial for ensuring food security and economic stability.