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The National Bureau of Statistics (NBS) has reported a significant 28.98% rise in the average cost of farm produce between January and May 2025, highlighting a deepening crisis in Nigeria’s agricultural sector. According to the NBS, the price index for farm produce a surge from 110.5 in January to 142.53 in May 2025.

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The NBS data shows a steady rise in the price of farm produce from January to May, with the most alarming surge occurring between April and May, when the price jumped by 22.28% to 142.53. This sharp increase is attributed to the ongoing insecurity that has crippled farming activities in various parts of the country, especially in the food basket of the nation, Benue.

The insecurity has led to a significant drop in agricultural production, resulting in higher prices for farm produce. Food inflation in Benue State had reached 51.8% year-on-year, alongside a 25.6% monthly increase in food prices in April 2025. The overall all-items inflation rate in Benue was 34.3%, rising 12.8% month-on-month in April.

Despite a slight moderation in food inflation in May, Benue still experienced a 4.1% increase in food prices month-on-month, reflecting persistent short-term pressures on supply. The overall headline inflation in the state stood at 25.9% year-on-year and 3.1% month-on-month.

In contrast, the Imported Food Price Index has shown more stability, standing at 111.5 in January and rising modestly to 113.7 in May. Nigerians imported food and beverages valued at N1.67tn between January and March 2025, representing a marginal increase of 5% compared to the corresponding period in 2024.

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The crisis in Nigeria’s agricultural sector is having a significant impact on food prices, and the government needs to address the underlying issues driving the insecurity and inflation. As the NBS data shows, the price of farm produce is having a significant impact on food inflation, and measures need to be taken to stabilize the agricultural sector and reduce the pressure on food prices

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