GMP Revival: A Lifeline for Nigeria’s Struggling Farmers

Dayo Thomas

The Federal Government is being urged to revive the Guaranteed Minimum Price (GMP) scheme to protect smallholder farmers and small-scale producers from volatile market prices. The National Agricultural Foundation of Nigeria (NAFN) and the Nigeria Agribusiness Group (NABG) have called for the resuscitation of the GMP, citing the struggles of farmers to break even amidst soaring input costs

According to Arc. Kabir Ibrahim, President of NABG, the reduction in food inflation is a pyrrhic victory if it comes at the expense of smallholder farmers. He suggests that the administration should target staples in each of the six geopolitical zones and intervene to reduce input costs to avert a food crisis

The GMP scheme, if revived, would ensure farmers receive a minimum price for their produce, protecting them from low and volatile market prices. This move is expected to stabilize food supply and prices, benefiting both farmers and consumers.