Stakeholders in Nigeria’s agricultural sector have called for an urgent, clear, rules-based, and market-friendly framework to stabilise farm prices and protect farmer incomes.
The Centre for the Promotion of Private Enterprise (CPPE) made the call amid concerns that import-driven price fluctuations are threatening rural livelihoods and discouraging investment in agriculture.
This challenge was highlighted in a policy brief titled “Imperative of Farm Price Stabilisation and Farmer Income Protection Framework for Nigeria”, advocating for minimum guaranteed prices for priority crops.
Dr Muda Yusuf, CPPE Chief Executive Officer, stressed that while recent import-focused strategies have lowered food costs for consumers, they have caused significant losses for farmers and investors, particularly in staples such as maize, rice, sorghum, and soybeans.
According to Yusuf, a well-structured stabilisation framework would prevent market-induced price crashes, reduce harvest-time distress sales, and provide farmers with reliable income streams.
“Price collapses destroy incentives to farm, reduce production over time, and worsen rural poverty,” he said.
The CPPE brief outlines that stabilisation must be rules-based, targeted, market-friendly, and digitally enabled for transparency.
Minimum Guaranteed Prices (MGP) would act as a stabilising backstop, allowing government intervention only when market prices fall below support levels.
Yusuf warned that MGP’s success depends on investments in storage, logistics, and commodity trading systems. Public–Private Partnerships (PPPs) and targeted incentives such as tax relief, concessionary finance, and viability gap support are crucial to making the programme sustainable.
“Stabilising farmer incomes is central to Nigeria’s agricultural transformation,” Yusuf said.
“A stable market strengthens food security, reduces inflationary pressures, expands rural employment, and improves Nigeria’s national economic resilience.”
The CPPE further urged government, commodity exchanges, development finance institutions, and private investors to collaborate and establish the framework.
This approach, experts say, will encourage private sector participation, safeguard investments, and create opportunities for youth employment and sustainable farming practices.
Source: This Day Live
Image Credit: The Whistle Newspaper
