Food Prices Have Crashed, Says Agric Minister - A Sign That Tinubu’s Agricultural Policies Are Beginning To Show Impact,

 

Food prices have recorded a significant decline across the country, according to the Minister of Agriculture and Food Security, Senator Abubakar Kyari. Speaking on Friday during a live appearance on ARISE TV, the minister highlighted that the ongoing interventions of President Bola Ahmed Tinubu’s administration are beginning to yield positive outcomes for households and farmers.

Kyari stressed that the government’s approach to tackling food insecurity involves a delicate balance between ramping up domestic agricultural production and introducing temporary importation measures. According to him, these steps were necessary to address what he described as longstanding structural imbalances that have weakened the sector for decades.

During the interview, the minister defended the policy choices adopted by the administration, insisting that the interventions were carefully designed to boost availability without discouraging local farmers. He argued that Nigeria’s food system had suffered from deep-rooted inefficiencies that required urgent action, especially at the time Tinubu assumed office.

President Tinubu, he recalled, declared a state of emergency on food security in July 2023 as a response to growing concerns about food availability and affordability. Kyari explained that the move was not simply symbolic but represented a broad plan to address supply gaps in critical crops such as rice. Nigeria, according to him, still struggles with a shortfall of about 15 percent in rice production compared to national consumption needs.

The minister cited examples of past leaders who had to employ similar tools, including former officials of the African Development Bank, in order to bridge production shortfalls and ensure stability. For Kyari, the temporary importation window was never intended as a long-term solution but as a means of ensuring that consumers are not overwhelmed by high prices while farmers continue with production.

According to him, the six-month importation window that was introduced has already closed. He emphasized that the measure did not threaten local farmers’ productivity because the volume of imported food was relatively small compared to the overall domestic demand. “When you look at the global demand field, it is not enough to discourage our farmers from agricultural production,” Kyari maintained.

Beyond importation, Kyari outlined the numerous direct interventions carried out under the Tinubu administration to strengthen farmer capacity. He revealed that the President had directed the Central Bank of Nigeria to release two million bags of fertiliser to the Ministry of Agriculture for free distribution to farmers. This initiative, according to him, came at zero cost to beneficiaries and provided an immediate boost to production during the last planting season.

Alongside the free fertiliser distribution, the government also offered subsidies, making fertiliser available at half the usual price to many smallholder farmers. Kyari insisted that these efforts contributed significantly to the rise in local food production witnessed in 2024, which is now reflecting in falling prices across markets nationwide.

Food security, in his words, is not only about production levels but also about creating the right balance between supply and demand. Nigeria’s challenge has always been managing both ends, and the government’s interventions, he argued, are gradually restoring that balance. He stressed that farmers were supported heavily to ensure sustainability, even while temporary imports were permitted to keep prices stable.

The minister also acknowledged that President Tinubu remains concerned about the cost of food and has tasked the Federal Executive Council with finding urgent and innovative measures to further reduce prices. A special committee of the council has been directed to come up with immediate strategies to make food more affordable for Nigerians, while the long-term structural reforms continue.

Observers note that the crash in prices could offer relief to millions of Nigerians who have been struggling with high inflation, particularly in food commodities. The combined strategy of temporary importation, input support, and production incentives reflects an attempt to balance short-term consumer needs with long-term agricultural growth.

Kyari assured Nigerians that the government is committed to making the sector more resilient, stressing that policies are being designed not only for immediate relief but also to ensure food sufficiency in the years ahead. He urged citizens to remain patient and supportive, as the process of rebuilding the agricultural sector takes sustained effort and investment.

Analysts believe that if properly sustained, the measures could attract more private sector participation in agriculture, create jobs, and enhance Nigeria’s position as a food-secure nation. For now, however, the most immediate outcome for ordinary Nigerians is the noticeable reduction in food prices, which the minister said confirms that the government’s strategies are working as intended.