Food Prices Fall 53%, Agriculture Rebounds – Kyari
Nigeria’s agricultural sector is showing signs of recovery, with food prices dropping by as much as 53%, according to Minister of Agriculture and Food Security, Abubakar Kyari.
Speaking at the Vanguard Economic Discourse in Lagos, Kyari said food inflation fell to 8.98% year-on-year in January 2026, the first single-digit decline in a decade, reflecting early gains from reforms.
He noted that agriculture contributes 23–24% of GDP and employs up to 70% of the labour force, making food security central to national stability.
“Food security is not just about what we eat, but how we live and ultimately how stable our nation is,” he said.
Kyari cautioned that the rebound remains fragile due to high input costs, climate shocks, poor infrastructure, and limited financing.
Fertiliser prices, he said, are the biggest cost driver, while mechanisation remains low, with only 3–4% of farmers fully mechanised.
Government interventions include expanded fertiliser support, digital farmer verification, and a continent-wide mechanisation programme to provide access to machinery through service providers.
The ministry is also promoting climate-smart agriculture, solar-powered irrigation, and value addition.
Minister of Livestock Development Idi Mukhtar Maiha stressed that feed accounts for 70% of livestock costs, making it the biggest constraint.
He announced plans for fodder hubs nationwide, starting with a pilot in Kwara State, to ensure year-round feed availability.
The FAO’s Nigeria and ECOWAS Representative, Dr Hussein Gadain, warned that food security is a pillar of national stability.
He highlighted challenges including insecurity, climate shocks, and trade imbalances, noting Nigeria imports far more agricultural products than it exports.
Gadain said smallholder farmers, who produce nearly 90% of Nigeria’s food, must be at the centre of reforms.
He called for investment in storage, processing, irrigation, and finance, stressing that without decisive action, 27–35 million Nigerians could face acute food insecurity between 2025 and 2026.