Food Prices Set To Crash: Rice, Garri, Yam May Get Cheaper Soon

According to Ireporter Online, the All Farmers Association of Nigeria (AFAN) has projected a possible decline in food prices by the next harvest season if government authorities at all levels enhance security and take steps to reduce the cost of agricultural production.

The Deputy Chairman of AFAN in Lagos State, Mr. Shakin Agbayewa, made this known on Tuesday, May 12, during an interaction with journalists in Lagos. He noted that essential food items such as rice, yam, cassava, and garri could become more affordable if farmers are able to cultivate under safer conditions and gain improved access to cheaper agricultural inputs.

Agbayewa identified insecurity, high fertilizer costs, rising fuel prices, and expensive farm operations as key drivers of food inflation in the country. He stressed that government intervention must be intentional and sustained to address the challenges affecting food production.

He explained that increasing costs of fertilizer, tractor services, and fuel have significantly raised production expenses, which are ultimately transferred to consumers in the market. He further called on federal and state governments to provide subsidized inputs, improve rural infrastructure, expand irrigation systems, and enhance access to affordable credit for farmers.

The AFAN official also emphasized the need for stronger collaboration between government and farmers’ associations in order to develop practical, state-specific solutions that would boost agricultural productivity.

He expressed optimism that improved production in the upcoming farming season would ease pressure on food prices, adding that Nigeria possesses sufficient arable land and manpower to achieve food self-sufficiency if appropriate policies are implemented. He concluded that sustained support for farmers remains the most viable strategy for reducing food prices and ensuring economic stability.