NBS: Cost of Farm Produce Rises Nearly 29% in Five Months

The National Bureau of Statistics (NBS) has reported that the average cost of farm produce in Nigeria surged by 28.98% between January and May 2025, underlining a deepening crisis in the country’s agricultural sector.

According to the agency’s latest data, the farm produce price index climbed from 110.5 in January to 142.53 by May. The most dramatic increase was observed between April and May, with a jump of 22.28%, signaling growing instability in food prices across the nation.

NBS attributes the sharp rise to persistent insecurity, particularly in key agricultural regions such as Benue State, which has seen disrupted farming activities due to violent conflicts and displacement.

Month-on-month, the price index rose steadily: 1.77% in February, 2.65% in March, and 0.88% in April before the steep rise in May.

Benue, often referred to as Nigeria’s food basket, recorded food inflation as high as 51.8% year-on-year in April, with a 25.6% monthly increase. However, by May 2025, food inflation in the state declined significantly to 22.0%, although short-term price pressure persisted, with a 4.1% monthly rise still recorded.

The report also noted that overall inflation in Benue stood at 34.3% in April and slightly moderated to 25.9% in May, while monthly headline inflation was 3.1%.

On the other hand, the Imported Food Price Index remained relatively stable, beginning at 111.5 in January and peaking at 115.3 in April, before slipping slightly to 113.7 in May — a 1.39% drop.

Data also shows that Nigerians imported N1.67 trillion worth of food and beverages between January and March 2025, a 5% increase compared to N1.59 trillion during the same period in 2024.

These figures reflect growing strain on local food systems and a heavy reliance on imports amid widespread insecurity and limited agricultural output.