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Minister Kyari Reveals 50% Decrease in Food Prices at Agricultural Forum
Atinuke Ajeniyi | 8th June 2026

Nigeria’s food security agenda has strengthened national economic stability through a series of interventions that have crashed essential commodity prices by up to 50 per cent nationwide, according to the Minister of Agriculture and Food Security, Senator Abubakar Kyari. 

Speaking at a stakeholders’ engagement forum on Agricultural and Food Systems Transformation in Abuja, Senator Kyari has detailed how the administration of President Bola Ahmed Tinubu has systematically overhauled the sector over the past three years. 

The Ministry is set to sustain this aggressive growth by shifting millions of smallholder farmers from subsistence farming into commercially viable agribusinesses using high-quality inputs, modern mechanisation, and extensive infrastructure development.

The reduction in market prices follows a successful transition toward data-driven, climate-resilient farming systems. A 2025 Agricultural Performance Survey, conducted by the National Agricultural Extension and Research Liaison Services (NAERLS) in partnership with the Ministry, confirmed significantly higher yields of staple crops such as rice, maize, sorghum, and cassava compared to 2024. 

This productivity boost was supported by the distribution of over 1.9 million bags of fertiliser to nearly one million farmers, alongside strict regulatory upgrades to eliminate counterfeit agrochemicals from the market. 

Senator Kyari noted, “Since assuming office, this administration has made food security a top priority. Our efforts are starting to pay off, with a notable impact on food prices.”

Technological and financial backing have served as the twin engines of this agrarian transformation. 

In 2025, the government launched the Renewed Hope Agricultural Mechanisation Programme, deploying 2,000 tractors and constructing ten large-scale integrated processing plants across all six geopolitical zones. 

Financially, the sector received massive risk-mitigation support, with the Nigerian Agricultural Insurance Corporation providing ₦700 billion in risk cover, while the Bank of Agriculture received a ₦250 billion facility to disburse single-digit interest loans directly to smallholder farmers. Furthermore, the National Agricultural Growth Scheme – Agro-Pocket (NAGS-AP) successfully registered over 647,500 farmers, driving a 30%  crop production surge in participating states.

The Ministry’s long-term strategy also features extensive rural infrastructure development, including the construction of 170 kilometres of asphalt roads, 296 solar-powered boreholes, and new rural markets. 

Special programs targeting women and youth were expanded through gender-responsive extension services and the adoption of the First Lady’s “Every Home a Garden” initiative. 

While acknowledging that systemic challenges persist, Senator Kyari expressed strong optimism about the future of Nigerian agribusiness, reiterating that sustained collaboration with sister ministries, such as the Ministry of Livestock Development and Water Resources, will anchor Nigeria’s path to absolute food sovereignty.

Source: Federal Ministry of Agriculture and Food Security
Image Credit: FMINO