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ACAN call FG to action on rising food prices

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By Abdulwasiu Usman

Government needs to enhance farmers' market opportunities, create policies.

As Nigeria strives to attain self-sufficient food production under President Bola Tinubu’s agenda, the Agriculture Correspondents Association of Nigeria (ACAN) has tasked the Federal Ministry of Agriculture and Food Security to take immediate action towards achieving the goal. By doing so, the association believes that it will alleviate the burden of expensive food items and the existing hardships faced by Nigerians. ACAN Chairman, Collins Nnabuife, stated that there is a lack of concrete measures taken by the present government to address the challenges in the agricultural and food industry, despite declaring an emergency.

Nnabuife called upon the government to promptly address the prevalent food insecurity crisis in the nation. Expressing disappointment, he highlighted that reputable global institutions had recently published reports signifying that certain regions within the country were already teetering on the brink of severe hunger. However, he expressed concern that the agriculture Ministers had not taken swift action in implementing crucial policies to combat this pressing issue. He argued that the government must enhance farmers’ market opportunities and encourage the development of value-added processes across the agricultural value chain.

Stakeholders collaboration crucial to promote inclusive participation.

Enabling farmers to tap into local and international markets not only enhances their earnings but also propels Nigeria’s standing in the global agricultural arena. Consequently, advocating for policy transformations that tackle the obstacles of land ownership, obstructive trade regulations, and bureaucratic hindrances becomes essential in cultivating a favorable atmosphere for agricultural expansion. He further called for youth inclusion and initiatives that entice and involve them in the agricultural sector through education, guidance, and rewards, with the aim of revamping the industry and tackling the issue of an aging farming community.

According to Nnabuife, it is imperative for the Agriculture Ministries, both at the Federal and state levels, to foster collaboration among stakeholders, including private sector players, and civil society organizations, to promote inclusive participation and achieve a comprehensive and unified approach to agricultural development. Additionally, Nigeria must prioritize programs that prioritize climate-smart agricultural practices in order to boost resilience to climate change, minimize risks, and ensure the sustainability of agricultural practices. Also, he urged the government to enhance the capabilities of agricultural research institutions to create superior climate-savvy seeds and additional farming tools, aiming to accelerate the growth of agricultural productivity.

Year-on-year food inflation rose by 31.52% in October 2023.

In July 2023, Nigeria witnessed a significant surge in food prices compared to the corresponding month in the prior year, according to the National Bureau of Statistics. Notably, it was the prices of unripe plantains, evaporated tin milk and ripe plantains that experienced the most pronounced upsurge. Notably, the cost of one kilogram of unripe plantains recorded a staggering rise of approximately 78 percent in comparison to the previous year, while peak evaporated tin milk witnessed an increase of about 76 percent in its price.

The rate of change in prices for goods and services in October 2023, as measured by the consumer price index (CPI), increased to 27.33 percent, indicating a rise from the previous month’s rate of 26.72 percent. According to the report, food inflation in October 2023 showed a year-on-year increase of 31.52 percent, which was significantly higher by 7.80 percent compared to the rate recorded in October 2022 (23.72 percent). The surge in food inflation on a year-on-year basis was attributed to the rise in price of essential food items such as Bread and cereals, Oil and fat, Potatoes, Yam and other Tubers, Fish, Fruit, Meat, Vegetables, and Milk, Cheese, and Eggs.

Month-on-month food inflation rate was 1.91% in October 2023.

As per the report, Kogi, Kwara, and Lagos experienced the highest food inflation rates during the period, standing at 41.74 percent, 38.48 percent, and 37.37 percent respectively. The NBS also revealed that in October 2023, the month-on-month food inflation rate was 1.91 percent, which indicates a decrease of 0.54 percent from the rate reported in September 2023 (2.45 percent). Fruits, oil and fat, coffee, tea, and cocoa, along with bread and cereals, decrease in their average price increases, leading to a decline in food inflation on a monthly basis.


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AN-Toni
Editor
1 month ago

ACAN call FG to action on rising food prices.Government needs to enhance farmers’ market opportunities, create policies. – Express your point of view.

Adeoye Adegoke
Member
1 month ago

The rising food prices in Nigeria are a cause for concern, and it’s crucial for the government to take action. Enhancing farmers’ market opportunities and creating supportive policies can play a significant role in addressing this issue. By providing farmers with better access to markets, they can sell their produce at fair prices and earn a decent income. Additionally, implementing policies that support agricultural development and provide incentives for farmers can help boost production and ensure a stable food supply. It’s important for the government to prioritize the agricultural sector and work towards creating an environment that fosters growth and sustainability. By doing so, we can tackle the rising food prices and ensure food security for all Nigerians.

Taiwo
Member
1 month ago

In response to growing food prices, ACAN calls on FG to take action. – Policies must be developed by the government to improve farmers’ market possibilities. We must reduce the escalating cost of food. In order to guarantee steady food prices, we must improve the things we sell.

Kazeem1
Member
1 month ago

This issue can be addressed in part by enacting sensible legislation and expanding the farmers’ market options. We can increase food affordability and availability for all by assisting farmers and fostering an environment that supports agricultural production and delivery.Prioritizing the agriculture industry and attempting to create an atmosphere that encourages growth and sustainability are crucial tasks for the government.

SarahDiv
Member
1 month ago

The rising food prices are alarming and pose a significant challenge to our well-being. Urgent action from the government, as suggested by ACAN, is crucial to address the food insecurity crisis. Policies supporting farmers, encouraging youth involvement, and fostering collaboration can contribute to a more sustainable and resilient agricultural sector. The statistics on inflation highlight the pressing need for effective measures. It’s my hope that these recommendations are taken seriously to alleviate the burden on Nigerians and ensure a more food-secure future for our nation.