Nigeria’s food price stability requires tackling insecurity, fixing structural deficiencies – Experts

Nigeria must address structural deficiencies and rising insecurity to stabilize food prices and ensure food security. Farmers report a 60% loss in production due to these issues. Essential infrastructure like storage facilities and rural roads is needed to support agriculture and reduce post-harvest losses. Kabiru Ibrahim, president of the All Farmers Association of Nigeria, highlighted the need for better storage and transportation. Experts estimate Nigeria loses up to 60% of tubers, fruits, and vegetables post-harvest. The National Infrastructure Master Plan suggests Nigeria needs to invest $3 trillion and 5% of its GDP annually to close the infrastructure gap. African farmer Mogaji emphasized leveraging technology to boost productivity and market access. Abiodun Olorundenro urged investment in long-term solutions, including rail transportation, to improve market access and reduce costs. Nigeria’s food inflation hit 40% in March 2024. Targeting specific food items and addressing their issues could help stabilize prices. Jude Obi stressed resolving insecurity so farmers can safely cultivate crops and contribute to food security. Source- BusinessDay

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Nigeria must urgently tackle structural deficiencies and rising insecurity to stabilize food prices and ensure food security. Farmers report losing 60% of their production due to these issues. Essential infrastructure, such as storage facilities and rural roads, is critical to support agriculture and reduce post-harvest losses. Kabiru Ibrahim, president of the All Farmers Association of Nigeria, highlighted the need for improved storage and transportation systems. Experts estimate that Nigeria loses up to 60% of tubers, fruits, and vegetables post-harvest. The National Infrastructure Master Plan indicates a need for $3 trillion and 5% of GDP annually to close the infrastructure gap. African farmer Mogaji emphasized leveraging technology to boost productivity and expand market access, while Abiodun Olorundenro called for long-term solutions, including effective rail transportation, to enhance market access and reduce costs. Nigeria’s food inflation reached 40% in March 2024. Addressing the issues of specific food items rather than using a general approach could help stabilize prices. Jude Obi stressed that resolving insecurity is vital for farmers to safely cultivate crops and contribute to food security.