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Nigeria: Rice prices approach drop as FG empowers 500,000 farmers nationwide

by Online Editor
February 2, 2025
in News
Reading Time: 2 mins read
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Nigeria: Rice prices approach drop as FG empowers 500,000 farmers nationwide
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By Abdullahi Lukman

Relief may be on the horizon for Nigerians grappling with soaring rice prices.

The federal government is ramping up its support for local rice farmers, a move that’s expected to significantly boost production and ultimately lower costs for consumer.

Kabir Ibrahim, President of the All Farmers Association of Nigeria (AFAN), has announced that the National Agricultural Growth Scheme Agro Pocket (NAGS-AP) project is set to empower 500,000 farmers nationwide, beginning in February 2025.

This comprehensive intervention will provide crucial resources and support to farmers, aiming to revitalize rice production, which has struggled in recent years.

The current price of a 50kg bag of rice in Abuja has reached an alarming N110,000, placing a significant burden on households across the country.

This exorbitant cost is a direct consequence of declining rice production in Nigeria.

Data from the United States Department of Agriculture reveals a concerning trend: Nigeria’s milled rice production has fallen to 8.3 million tonnes for the 2024/2025 cycle, down from 8.9 million tonnes in the previous cycle.

This decrease has raised serious concerns about food security within the nation.

To combat this challenge, the federal government is implementing a multi-pronged approach.

Dr. Marcus Ogunbiyi, Permanent Secretary of the Federal Ministry of Agriculture and Food Security, announced the launch of “Operation Empty the Store.”

This initiative us to distribute essential agricultural equipment and inputs, including fertilizers, sprayers, and motorized weeders, directly to farmers.

This distribution, timed for the second phase of the 2024-2025 farming season, is designed to equip farmers with the tools they need to maximize their yields.

Beyond this immediate intervention, the government is demonstrating its commitment to long-term agricultural development.

In 2024, the government allocated N8.64 billion to various food security initiatives, funding the procurement of crucial farming equipment and materials, from tractors to fertilizers.

This financial commitment is to continue into 2025, as the government seeks to further expand its support for the agricultural sector.

Despite these substantial investments and initiatives, Nigeria continues to grapple with high food inflation, currently at 39.93 percent.

This persistent inflation is fueled, in part, by rising transportation costs, which have been exacerbated by the removal of the fuel subsidy.

AFAN President Ibrahim highlighted the significant impact of transportation costs on food prices, explaining that farmers are forced to pass these increased expenses onto consumers.

He urged the government to address the issue of fuel prices and invest heavily in infrastructure development to mitigate these challenges.

The government’s focus on empowering farmers through NAGS-AP and other support programs is expected to have a positive ripple effect on rice production.

By providing farmers with the necessary resources and training to improve their yields, the government anticipates a significant increase in rice output.

This, in turn, is projected to drive down the cost of rice, providing much-needed relief to consumers and easing the financial strain on families.

As more farmers receive the assistance they need, there is hope that Nigeria’s agricultural sector will rebound from recent setbacks, leading to greater stability in food prices and enhanced food security for all Nigerians.

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