Rising Food Costs: Why Prices Will Continue to Climb

Mrs. Hannatu Ajiji, an official at the Tomatoes/Pepper Market along Bauchi Ring Road in Jos, Plateau State, explains the fluctuating prices of food items. “We don’t tell people about prices of tomatoes and pepper again because they may fluctuate at any time. Sometimes, we sell at a particular price in the morning and by noon or evening, the price changes,” she said.

This unpredictability in food prices is making it increasingly difficult for many Nigerians to afford basic necessities. Various factors contribute to the soaring prices, including the high cost of transportation, insecurity preventing farmers from accessing their fields, foreign exchange challenges, climate change effects, multiple taxation, late release of budget allocations, and rising inflation.

The Impact on Nigerian Households

The National Bureau of Statistics (NBS) reported significant increases in food prices from May 2023 to May 2024:

• Local rice: Increased by 189.79% to N1,608.89 per kg.
• Brown beans: Increased by 219.05% to N2,009.23 per kg.
• Tomatoes: Increased by 196.92% to N1,479.69 per kg.
• White Garri: Increased by 200.12% to N1,114.72 per kg.
• Yam tubers: Increased by 189.20% to N1,322.36 per kg.

Expert Opinions and Solutions

Experts, including Dr. Olisa Agbakoba, SAN, have called on the government to take urgent action to address this crisis and prevent potential hunger riots. The House of Representatives has urged the Federal Government to collaborate with state governments to implement a mechanized agricultural revolution.

High Transportation Costs and Insecurity
Dominic Osoh, Chairman of the National Association of Yam Farmers, Processors and Marketers, attributes the rising prices of yam tubers to the high cost of transportation and insecurity. “The transportation fare we pay to move yam from the village to the market is not helping the situation,” Osoh said.

Market Fluctuations and Trader Challenges
At the Kabusa Market in Abuja Municipal Area Council, a plastic basket of tomatoes now sells for N14,000, while the same measure of pepper goes for N15,000. A bag of rice ranges between N75,000 and N85,000, and 10 tubers of yam sell for N30,000.

The Role of Government and Future Outlook

Engr. Daniel Ijeh, CEO of EA Daniels Farm, suggests several government actions to address the crisis:

1. Tackle insecurity.
2. Build farmers’ capacity on climate change issues.
3. Ensure timely release of budget allocations.
4. Provide better storage facilities for grains.
5. Facilitate loans and subsidies for farmers.

Fatima Gunmi, President of the Smallholder Women Farmers Organizations in Nigeria (SWOFON), emphasized the need for serious support for women farmers to mitigate high food prices.

Conclusion

As food prices continue to soar, the Nigerian government and other stakeholders must take decisive action to address the underlying causes and provide relief to struggling households. Collaborative efforts between federal and state governments, along with support for farmers, are crucial to stabilizing food prices and ensuring food security for all Nigerians.