Abuja: An Economist, Ephraim Audu, has highlighted insecurity as the primary driver of food inflation in Benue, urging the Federal Government to take immediate action to address the issue nationwide. According to News Agency of Nigeria, Audu, who serves as the National President of the Agricultural Agenda Nigeria Initiative (AANI), shared his insights during an interview in Abuja, following the release of the latest inflation data by the National Bureau of Statistics (NBS).
The NBS reported that the food inflation rate in April 2025 stood at 21.26% year-on-year, with Benue experiencing the highest food inflation rate at 51.76% year-on-year and 25.59% month-on-month. On a month-on-month basis, the food inflation rate in April was recorded at 2.06%, a decrease of 0.12% from March 2025. The decrease was attributed to a reduction in average prices of items like Maize, Wheat, and Yam Flour, among others. However, Audu expressed skepticism about the decline, noting that food prices continued to rise.
Despite Benue’s status as the nation’s food basket, Audu lamented its high food inflation rates. He pointed out that less than three percent of Benue’s population holds civil service jobs, meaning over 80% are predominantly farmers who face challenges due to insecurity, preventing them from accessing their farms and affecting their livelihoods.
Audu cited another factor contributing to food inflation: the value chain, particularly the increased cost of Premium Motor Spirit (PMS) and diesel following subsidy removal. He explained that the high cost of fuel impacts irrigation farmers who rely on petrol or diesel-powered machines, significantly increasing their operational costs and, consequently, food prices.
Additionally, Audu criticized the reported decline in the headline inflation rate to 23.71%, arguing it does not reflect the realities faced by Nigerians, who struggle with rising costs of food, housing, and transportation. He called for revitalization of refineries and issuance of licenses for modular refineries to foster competition and reduce fuel prices.
Audu suggested that the Federal Government should prioritize both human and food security, investing a significant portion of the budget in agriculture to achieve food sufficiency and attract foreign investments. He also recommended implementing price regulations to curb hoarding and price inflation, addressing power sector issues, and providing single-digit intervention funds for entrepreneurs and farmers.
He emphasized the need for increased salaries to match rising living costs, acknowledging the weakened purchasing power of Nigerians.