Agriculture crisis looms as soaring costs hit Nigerian farmers

By Rosemary Nzegwu

Nigeria’s agricultural sector is facing a severe crisis, with soaring input costs threatening to push many farmers to the brink of collapse.

Speaking to Agricnews Digest, Dr Kolawole Felix, a Lagos-based farmer, said farmers are struggling to cope with skyrocketing prices.

“The price of fertilizer has risen by 41 per cent, while the cost of seeds and seedlings has nearly doubled, leaving many farmers struggling to make ends meet,” he said. “This is happening against the backdrop of collapsing farm-gate prices, which have left farmers with little to no profit margins.”

The crisis is further compounded by inadequate storage infrastructure, which leads to significant post-harvest losses.

Estimates suggest that Nigeria loses around 40 per cent of its annual harvest due to poor storage facilities, with the value of these losses running into billions of naira. Limited access to affordable credit and financial services is also making it difficult for farmers to invest in their farms and improve productivity.

The effects are being felt nationwide, with many farmers forced to abandon their farms or scale down production due to high input costs. This has created a ripple effect across the food supply chain, driving up prices and reducing the availability of locally produced crops.

Experts say urgent action is needed from policymakers and stakeholders to support farmers and address the underlying challenges in the sector.

Proposed solutions include providing affordable inputs, investing in storage facilities, and enhancing access to credit through agricultural credit guarantee schemes and other financial support programs.

“By implementing these measures, it is possible to support Nigerian farmers and ensure the long-term sustainability of the country’s agricultural sector,” stakeholders said, stressing the need for coordinated efforts to protect livelihoods and strengthen food security.