Despite bumper harvests leading to a sharp drop in food prices, Nigerian farmers are lamenting huge financial losses due to insecurity, poor storage, and high production costs.
The recent decline in food prices across Nigeria, following bumper harvests, has left many farmers lamenting poor returns on their investments. Prices of major staples such as rice, beans, and tomatoes have dropped sharply a 50kg bag of rice now sells for ₦50,000–₦63,000, down from ₦100,000, while a basket of tomatoes has fallen from ₦120,000 to ₦35,000.
Farmers across Kaduna, Kano, and Katsina states said insecurity, poor storage, and high input costs have forced them to sell at giveaway prices. “Although rainfall and yields were favourable, lack of storage facilities and banditry forced farmers to sell cheaply,” said Ibrahim Musa, a maize farmer from Giwa LGA.
While some welcomed the lower food prices as relief for consumers, others warned that farmers’ losses could discourage future production. Stakeholders called for improved storage systems, market access, and subsidies to sustain agricultural growth and ensure the benefits of bumper harvests reach both farmers and consumers.