2 years on: Food prices steady, living standards adjusted

Two years into President Bola Ahmed Tinubu’s administration, Nigeria’s agricultural sector has emerged as a vital lifeline for the country’s economy.
findings reveal that while prices of food commodities have remained high, many Nigerians have adjusted their standards of living, spending only on the barest necessities, while the hoarding network seems to have been crushed”

In the words of Femi Adeoye, a civil servant, ” My family have adjusted. I have cut cost on luxuries and exotic binging. Food is available, we just do not have enough funds to buy as much or the variety we want”

Recall that Nigeria in the first year of the Tinubu led administration endured significant hurdles, including high inflation and insecurity, the nation’s agricultural sector has however shown resilience and potential for growth.

Key Achievements of the administration include: Dry Season Farming Program: The government launched a dry season farming program, cultivating 118,657 hectares of wheat in 15 states, resulting in an output of 474,628 metric tons of wheat. Jigawa State exceeded its allocated target by 15,000 hectares.

Food Commodities Distribution: The government released 42,000 metric tons of assorted food commodities to vulnerable populations and procured and distributed 58,500 metric tons of milled rice to all states.

– Agricultural Initiatives: The Tinubu administration has implemented initiatives such as the National Agricultural Growth Scheme and Agro Pocket (NAGS-AP), National Agribusiness Policy Mechanism (NAPM), and the resuscitation of the National Agricultural Land Development Authority (NALDA) to strengthen productivity and address sector challenges.

Challenges recorded include Inflation: The country faced soaring inflation, with a rate of 34.6% in November, the highest in 28 years, due to economic reforms and the removal of fuel subsidies. Insecurity:

Insecurity remains a major challenge, affecting agricultural productivity and food security and Low Purchasing Power: The low purchasing power of the Naira and low mechanisation also hinder the sector’s growth.

Kabiru Ibrahim, president All Farmers Association (AFAN), praised the administration’s initiatives but noted that many challenges, including insecurity and corruption, need to be addressed.

He described the administration’s efforts as “work in progress”.

Azuka Nnadozie, a civil servant and mother of four, said she and her family have had to adjust to present realities, cutting off luxuries and surviving on bare necessities, but haven’t yet experienced the benefits of the administration.

As President Tinubu’s administration marks its second year, Nigerians are reflecting on the progress made and challenges ahead. With continued focus on agricultural development and economic reforms, the sector is poised to play a vital role in ensuring food security and driving economic growth.