The Federal Government has given insight into why the prices of items are trending downward across markets in the country, and attributed it to improved local production, release of withheld stocks by hoarders and enhanced interventions by states and federal government to stabilise supply.
The Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, gave the insight while speaking during a ministerial briefing to mark the 2025 World Food Day in Abuja.
Abdullahi said Nigeria’s current agricultural reforms and policy consistency have begun to yield expected results, with farmers recording higher harvest across major staple crops this season.
He explained that the combined effect of the efforts has boosted market supply, reduced scarcity pressures and restored balance in the demand-and-supply cycle that had previously forced prices to soar.
The Minister noted that the 2025 Wet Season Agricultural Performance Survey, conducted by the National Agricultural Extension and Research Liaison Services (NAERLS), showed consistent yield improvements in rice, maize, cassava, sorghum, millet, yam, and cowpea.
He said these gains reflected the outcome of government-backed investments and farmer-support programmes under the Renewed Hope Agenda.
The minister stated that President Bola Tinubu’s administration had intentionally ramped up production through the provision of subsidised inputs, access to credit, and mechanisation schemes, noting the government’s multi-level intervention strategy aimed to make food both available and affordable.
Abdullahi added that food security was being treated as a national priority, not just in terms of output, but in affordability for working Nigerians. He said the administration’s approach aligns food pricing with income realities, ensuring that low-income earners can sustain basic nutrition for their households.
The minister linked part of the price drop to a psychological market shift that occurred after the Federal Government announced plans to import limited food quantities last year to bridge production gaps.
He said the move discouraged speculative hoarding and led traders to release large quantities of stored commodities into circulation, expanding supply and helping to stabilise prices.
He further explained that while imports were considered as a buffer mechanism, no significant volumes had been released, as the improved domestic harvests had already offset the need. The combination of increased production, seasonal abundance, and reduced hoarding created a natural correction in market prices.
According to him, state governments have also played a key role through the establishment of buffer stocks to manage price fluctuations. Abdullahi cited examples from Kaduna, Kano, Jigawa, and Niger States, where governments have maintained emergency food reserves to support citizens when prices rise sharply.
He added that to cushion the effects of lower commodity prices on farmers, the government is providing free inputs and implements through farmers’ associations, cooperative groups, and youth organisations. This, he said, would reduce production costs, sustain farm incomes, and encourage continued cultivation.
He said, “We went into massive production under the agri-pocket programme, injecting nearly 500,000 metric tonnes of wheat, maize, cassava, and other staples into the system. The increased supply is what has brought food prices down.
“When government announced plans to import food last year, hoarders panicked and released stored grains. That is the truth of why prices crashed. It was not because imports arrived, but because speculation collapsed under the pressure of better harvests.
“The government is aware that farmers must continue to produce, which is why we are supporting them with free inputs and mechanisation access. This will reduce their cost of production while ensuring affordability for consumers.”
“We have never had such holistic political will in this sector. President Tinubu’s support has been total, and with ongoing reforms, Nigeria will soon achieve precision agriculture and sustainable food security.”
The minister also highlighted the federal mechanisation drive, which includes the deployment of 2,000 Belarus tractors and over 9,000 specialised implements to service over 550,000 hectares of farmland. The equipment, he noted, is fitted with digital systems that prevent misuse and ensure maintenance compliance.
He stressed that the tractors would not be given out as political favours but managed through service centres that allow small – holder farmers to access mechanised services at affordable rates. This, he said, would lower labour costs, improve land preparation, and strengthen productivity across the sector, according to the report by the Leadership.7
Abdullahi reaffirmed that the government is reviewing past silo concessions to recover underperforming assets and integrate them into national storage plans under the restructured Strategic Food Reserve. He said this would enhance storage capacity, preserve surplus yields, and further protect consumers from price instability.
The minister concluded by saying that Nigeria now has “the highest level of political commitment ever given to the agricultural sector,” adding that the administration’s vision was to achieve food sufficiency through precision agriculture, youth-led mechanisation, and sustainable land use.
