The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian government to urgently adopt what it described as a “rules-based Farm Price Stabilisation and Farmer Income Protection Framework” to safeguard food security, rural livelihoods and long-term agricultural investment.
The call was made in a policy brief released on Sunday and signed by CPPE’s Chief Executive Officer, Muda Yusuf, against the backdrop of a sharp decline in the prices of major staple food commodities across the country.
According to the brief, CPPE acknowledged that the federal government’s recent food security measures have delivered short-term relief to consumers through lower food prices and moderated food inflation.
However, it warned that the steep fall in prices of key agricultural commodities has inflicted heavy losses on farmers and investors across the agricultural value chain.
Nigeria’s food insecurity crisis
Nigeria has in recent years grappled with a severe cost-of-living crisis, largely triggered by President Bola Tinubu’s economic reforms, particularly the removal of petrol subsidies and the floating of the naira.
These measures led to s
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