Food Prices Have Crashed, Says Agriculture Minister Abubakar Kyari

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has said food prices across the country have fallen as a result of emergency measures introduced by President Bola Tinubu to tackle food insecurity.

Speaking on Arise TV on Friday, September 12, Kyari noted that Tinubu inherited a difficult situation in 2023 when he declared a state of emergency on food security, describing the move as a “clarion call” to rescue the sector.

“President Bola Ahmed Tinubu came at a time when there was huge structural default in terms of food security and that is why he had to declare the clarion call and emergency on food security in July 2023,” Kyari said.

The minister explained that the administration’s strategy focused on boosting local production while also introducing temporary imports to close supply gaps in key crops such as rice. He clarified that the importation window was limited to six months and designed only to stabilise prices without discouraging farmers.

Kyari also highlighted other interventions rolled out alongside imports, including large-scale fertiliser support. He revealed that the Central Bank released two million bags of fertiliser to the ministry for free distribution and that farmers also benefited from a 50 percent subsidy on fertiliser purchases. According to him, these measures led to increased production in 2024.

Summing up the impact of the interventions, the minister said the food market is already responding positively.

“I could say boldly that prices have crashed,” Kyari declared.