FG develops strategies to stabilise food prices

In order to stabilise food prices, boost local production, and rebuild public confidence in Nigeria’s food system, the Federal Government has proposed a variety of short-, medium-, and long-term agricultural strategies. The federal government said that targeted interventions, including the reduction of import tariffs on key agricultural inputs and commodities, have provided immediate relief by […]

In order to stabilise food prices, boost local production, and rebuild public confidence in Nigeria’s food system, the Federal Government has proposed a variety of short-, medium-, and long-term agricultural strategies.

The federal government said that targeted interventions, including the reduction of import tariffs on key agricultural inputs and commodities, have provided immediate relief by easing pressure on prices.

This was the topic of discussion during the Ministerial Policy Dialogue during Nigeria Public Relations Week in Kaduna, titled “Nigeria’s Food Security: From Policy Paper to Public Plates; The Imperatives of Public Relations.”

Mohammed Ibrahim, Executive Secretary of the National Agricultural Development Fund (NADF), who represented the Minister of Agriculture and Food Security, Senator Abubakar Kyari, at the event, said that the government’s current strategy focuses on market correction to address food inflation and supply challenges.

“Food prices this time last year were astronomically high, but some of the direct policies we introduced, especially around import tariff reductions, have helped stabilise the situation,” Ibrahim said.

He said that government is simultaneously pursuing policies to protect and strengthen domestic production, particularly through support for farmers and agro-processors.

“We have focused on farm input support programmes and agro-processing. We are providing subsidised inputs to processors with backward integration models. Strengthening both the farm and the factory is critical to ensuring agricultural policies succeed,” he added.

The NADF boss also highlighted ongoing tax and fiscal reforms targeting agricultural value chains, noting that food security now goes beyond production alone and includes communication, policy alignment and public engagement.

“Food security today is not just about agriculture. Clear communication, shaping narratives and influencing policy are equally important in building trust and ensuring impact,” he said.

Providing an update on inflation trends, Ibrahim disclosed that food inflation has dropped to about 14 percent compared to 25 percent recorded in the same period last year.

“Food prices are beginning to abate, although challenges remain, particularly around the high cost of inputs. Farmers are still feeling the pressure,” he said.

Target measures

To address these challenges, the government is implementing measures to liberalise mechanisation, improve access to inputs and deliver targeted support to farmers across key value chains.

“These interventions are beginning to yield results, and we expect inflation to continue on a downward trajectory,” he added.

Central to the government’s strategy is the role of the National Agricultural Development Fund, which is driving financing, policy implementation and institutional support across the sector.

127,000 farmers to get input support

Looking ahead to the 2026 wet season, NADF is scaling up its fertiliser support programme under Renewed Hope Fertilizer Support Programme, targeting 127,000 farmers across 25 states and the FCT.

In terms of financing, he said that NADF has mobilised billions of naira in partnerships with state governments and financial institutions to drive large-scale agricultural projects.These include a N1.14 billion investment in ginger production in Kaduna State, a N5 billion co-financing arrangement with the Niger State Government for rice and maize cultivation, and multiple on-lending facilities to banks supporting fertiliser production, rice processing and cassava value chains.

The Fund’s blended finance model has also helped attract additional private sector investment, reducing borrowing costs for agribusinesses and expanding access to credit. An example is its partnership with Psaltry International, IDH and a foundation, which empowered 15,000 young women in cassava cultivation in Oyo State.

Mr Ibrahim stated that the NADF was collaborating with states like Cross River, Jigawa and Katsina to develop risk-sharing mechanisms that will improve access to agricultural financing.
Ibrahim emphasised that all interventions are geared towards achieving food sovereignty and long-term food security in Nigeria.