The Digest:
A significant divide has emerged between Nigerian farmers and the Federal Government over the cause of the recent drop in food prices. While the government attributes the decline to its successful agricultural incentives, farmers' associations cite the massive, duty-free importation of grains as the primary cause, a move they say has crashed prices below their production costs and pushed many into severe debt.
Key Points:
- Farmers and the Federal Government disagree on the cause of falling food prices.
- Farmers attribute the price crash to massive grain imports approved by the government.
- The government claims its policies boosting local production are responsible.
- Farmers report making massive losses, with many unable to recoup their investments.
- The cost of agricultural inputs like fertilizer has soared by over 100%.
- Many farmers are trapped with old stock and are reconsidering farming altogether.
- The Minister of State for Agriculture denied that the imported grains had been released.
Sources: Daily Trust
