Economic and agricultural experts have urged the Federal Government to subsidise production to boost output and cushion inflationary pressures in the economy.
The experts made the call in separate interviews with the News Agency of Nigeria on Wednesday in Lagos.
Dr Femi Oke, Secretary-General of the All Farmers Association of Nigeria, said increased government intervention in agriculture would help moderate rising food prices.
He noted that the sharp increase in the cost of farm inputs and equipment was discouraging production.
“The cost of agricultural inputs has risen significantly. Items that previously sold for about N5,000 now go for as high as N45,000.
“This increase is undermining affordable food production and discouraging farmers,” Oke said.
He added that rising fuel costs were further driving up food prices and urged the government to engage farmers’ associations before introducing new import policies.
According to him, such consultations would help protect farmers who have accessed credit facilities for expansion.
Also, Dr Ayo Teriba, Chief Executive Officer of Economic Associates, said the current inflation rate was moderate, given prevailing global conditions.
He said the impact of recent geopolitical tensions had been limited, noting that the nation’s domestic refining capacity had helped cushion potential shocks.
Teriba, however, ruled out the reintroduction of fuel subsidies, describing current economic challenges as temporary.
He recommended targeted support measures, such as conditional cash transfers, to cushion the impact on vulnerable groups.
Similarly, Dr Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), said inflation in Nigeria was largely driven by production and logistics costs.
Yusuf called for sustained investment in transportation infrastructure, particularly rail systems, to reduce the cost of moving goods across the country.
He also urged the government to address insecurity in farming communities and improve infrastructure such as storage facilities and road networks to reduce post-harvest losses.
According to him, these measures are critical to boosting food production and stabilising prices.
The News Agency of Nigeria (NAN) reports that Nigeria’s inflation rate rose to 15.38 per cent in March 2026 from 15.06 per cent in February, ending an 11-month disinflation trend.
Data from the National Bureau of Statistics showed that food inflation increased to 14.31 per cent in March from 12.12 per cent recorded in February.
However, on a year-on-year basis, food inflation declined from 25.22 per cent in March 2025 to 14.31 per cent in March 2026.
