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Abubakar Kyari credits government interventions for easing food prices.
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Strategy combines local production support with temporary imports
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Government initiatives aimed at closing supply gaps in key staples like rice
Senator Abubakar Kyari, Minister of Agriculture and Food Security, has announced that food prices have “crashed” nationwide following interventions by President Bola Tinubu’s administration.
Speaking on ARISE TV on Friday, Kyari highlighted that the government’s strategy, which combines production support for local farmers with temporary importation, has helped address structural imbalances in the agricultural sector.
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“There are tools if you want to take care of the structural imbalances in the agricultural sector,” Kyari said.
He explained that temporary importation was necessary to bridge supply gaps, such as the 15% shortfall in rice production, without discouraging domestic farmers.
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Kyari also cited other measures, including the release of two million bags of fertiliser by the Central Bank to support local production and subsidised fertiliser programmes that covered 50% of costs for farmers.
He added that President Tinubu had directed a Federal Executive Council committee to implement urgent measures aimed at reducing food prices across the country, signalling ongoing commitment to food security and affordability.
