The House of Representatives has moved to shield Nigerian farmers from financial ruin following a “persistent and sharp decline” in the prices of staple crops across the nation.
In a motion led by Hon. Bamidele Salam, the House warned that without immediate government intervention, the current market volatility could trigger a mass exodus from the agricultural sector, cripple national food security, and worsen the country’s inflation crisis.
Despite agriculture remaining the backbone of Nigeria’s economy and a primary contributor to the Gross Domestic Product (GDP), lawmakers noted that farmers are currently facing “monumental financial losses.”
The price crash has hit major staples—including rice, yam, and cassava—leaving many farmers unable to repay loans taken for seeds, fertilizers, and labor. The House expressed deep concern that this trend is fueled by a systemic lack of:
- Structured off-taking mechanisms (guaranteed buyers for harvests
- Adequate storage facilities to prevent spoilage.
- Strong agro-processing capacity to add value to raw produce.
- Market linkages to connect rural farms with urban demand.
“If left unaddressed, falling farm prices could drive farmers out of business, cut agricultural investment, and worsen rural apathy toward farming,” the motion stated, highlighting the risk of a greater national reliance on expensive food imports.
Beyond the economic impact on farmers, the House raised the alarm regarding national health. Lawmakers noted that disruptions in the agricultural supply chain are likely to limit access to affordable food, which would worsen malnutrition rates among Nigeria’s most vulnerable populations.
In a bid to cushion the blow of market fluctuations, the House resolved to take several strategic steps:
The Federal Ministry of Agriculture and Food Security has been urged to establish “price support mechanisms” to protect farmers from the current price slump.
The government is called upon to expand Strategic Grain Reserves and agro-processing zones to reduce post-harvest losses.
The House is advocating for a permanent agricultural price stabilization framework to ensure farmers receive fair returns on their investments.
To ensure a data-driven response, the House mandated its Committee on Agricultural Production and Services to launch an immediate investigation into the root causes of the price drops.
The committee is expected to assess the impact on farmers’ livelihoods and national nutrition outcomes, with a formal report due back to the House within two weeks for further legislative action.
