The National Bureau of Statistics has reported a 28.98 per cent rise in the average cost of farm produce between January and May 2025, signalling a deepening crisis in Nigeria’s agricultural sector.
According to the NBS, the price index for farm produce surged from 110.5 in January to 142.53 in May 2025.
This sharp increase, particularly pronounced in May, highlights the mounting pressure on local food prices, largely driven by worsening insecurity in the country.
A price index is a statistical measure that tracks the changes in the price level of a selected group of goods and services over time.
The index rose by another 2.65 per cent in March to 115.43, before a smaller increase of 0.88 per cent in April, bringing the price to 116.46.
However, the most alarming surge occurred between April and May, when the price jumped by 22.28 per cent to 142.53.
The increase highlights the underlying disruptions in agricultural production, which has been attributed to the ongoing insecurity that has crippled farming activities in various parts of the country, especially in the food basket of the nation, Benue.
Food inflation in Benue State had reached 51.8 per cent year-on-year, alongside a 25.6 per cent monthly increase in food prices in April 2025.
