Nigeria’s agricultural sector is facing a deepening crisis as the National Bureau of Statistics (NBS) reports a staggering 28.98 per cent increase in the average cost of farm produce between January and May 2025.
According to the NBS, the farm produce price index climbed sharply from 110.5 in January to 142.53 in May. The most dramatic jump occurred between April and May, when prices surged by 22.28 per cent — a spike that underscores the growing challenges facing local food production.
Experts attribute the rise largely to escalating insecurity in key farming regions, particularly Benue State, often referred to as the nation’s food basket. Armed conflicts and attacks have disrupted farming activities and supply chains, driving up prices across the country.
A price index is a statistical tool used to measure changes in the price level of a selected group of goods over time. It helps analysts track inflation or deflation by comparing current prices to those of a base period.
From January to April, the index rose gradually:
January: 110.5
February: 112.46 (1.77% increase)
March: 115.43 (2.65% increase)
April: 116.46 (0.88% increase)
However, May witnessed a dramatic leap to 142.53, marking the most significant single-month increase in recent years.
In Benue State, food inflation reached a jaw-dropping 51.8 per cent year-on-year in April, with a 25.6 per cent month-on-month rise. The state’s overall inflation rate was 34.3 per cent in April, increasing by 12.8 per cent from the previous month.
Surprisingly, food inflation in Benue dropped significantly to 22.0 per cent in May — a 57.53 per cent decline — despite continued violence in parts of the state. Nonetheless, the state still recorded a 4.1 per cent month-on-month increase in food prices, pointing to persistent supply disruptions.
Headline inflation in Benue stood at 25.9 per cent year-on-year and 3.1 per cent month-on-month in May.
Meanwhile, the Imported Food Price Index has remained relatively stable. Starting at 111.5 in January, it rose by 1.3 per cent to 113.4 in February and reached 113.9 in March (0.44% rise). By April, it increased to 115.3 (1.23%), but saw a slight dip in May, falling by 1.39 per cent to 113.7.
Between January and March 2025, Nigerians spent N1.67 trillion on imported food and beverages — a 5 per cent rise from the N1.59 trillion recorded in the same period in 2024.
The alarming rise in local food prices highlights the urgent need for improved security and agricultural support policies to stabilize the nation’s food supply and protect vulnerable communities.
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