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Why Nigeria Is Yet To Be Food Secured – Varsity Don

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A University Lecturer with Agronomy Department, Faculty of Agriculture in Bayero University, Kano, BUK, Sani Miko has listed factors responsible for why Nigeria is yet to be food secured.

Miko who categorized the factors into Internal and external policy challenges undermining the nation’s food security, said they include inadequate funding for the agricultural sector, threat of climate change for sustainable agriculture, insecurity of agricultural land and investments, insufficient value addition and agro-industrial processing facilities and low agricultural export among others.

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The Varsity Don stated this while delivering a paper titled, “Policy Challenges To Food Security in Nigeria” during an annual Ramadan lecture organized by the Islamic Forum of Nigeria National Headquarters in Kano.

According to him, “Indeed, there are numerous challenges that prevented the Nigerian agricultural sector from attaining its full potential. They can be categorized into Internal and external policy challenges undermining food security in the country. The chief among them are as follows:

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“Inadequate funding for the agricultural sector. Funding is inadequate to drive agricultural development in Nigeria.

“Achieving agricultural transformation would require funding beyond what the current budgetary allocation would provide.

“Over the years, Agriculture receives low investment from both State and Federal Governments. Example, Federal Government made budgetary allocation of between 1.3% and 3.4% to Agriculture in annual budget from the year, 2000 to 2007.

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“In the year 2017, combined expenditure of the federal and state governments showed they spent only 1 .8 percent of their total annual budget to agriculture.

“Threat of Climate Change for Sustainable agriculture. This is negatively affecting the Nigerian agricultural sector while the policy response and the needed interventions to mitigate the impact has remained largely ad-hoc.

Another factor is insecurity of Agricultural land and investments which is currently posing greater risk to agricultural production, processing, marketing and delivery of essential services.

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“The menace of Boko Haram, Banditry and communal, farmers and pastoralists conflicts have devastated livelihoods and investments of hundreds of farming and pastoral communities.

“Low level of agricultural mechanization. The availability and accessibility of macro and micro mechanization equipment such as tractors, power tillers, planters, combine harvesters and others needed for land preparation and other agricultural activities is very low in the country.

“Another factor is inadequate rural Infrastructure. The capacity of the rural communities for massive agricultural production and on-farm processing has been constrained by inadequate road networks, power supply, irrigation infrastructure, storage and processing facilities.

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“Poor extension services delivery: With an average of 1:10,000 extensions to farmer ratio across the country, farmers receive limited guidance and training in technology adoption. Also, limited access to affordable credit is another factor where farmers grapple with limited access to finance and high interest rates even with the interventions by the CBN.

“Similarly, issue of ineffectual synergy which relates to ineffective policy formulation and implementation structures at intra and inter-federal Ministries, Department and Agencies (MDAs) and weak synergy between federal and states MDAs. This has led to persistent inter and intra-agency rivalry in the sector.

“However, given the interdependent nature of international economic relations, it is unlikely that a country like Nigeria would be able to achieve its food security goal using its internal dynamics alone. For any country to be able to achieve its food security goal, it would need to think and act both locally and globally.

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“This would need an adjustment of its relations with international, regional, and sub-regional institutions like the FAO, the European Union (EU), and Economic Community of West African States (ECOWAS).

“It would also require seeking the understanding and support of some countries, which may be negatively affected by some agricultural, food, and fiscal policies of Nigeria.

“Thus, the ban placed on the import of some agricultural products – like Rice and Wheat, frozen chicken, and meat – in order to encourage local production, hurts the exporting countries of these food items to Nigeria.

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“This can provoke retaliation against Nigeria’s export of cash crops.

“These countries need to be reassured that Nigeria’s import prohibition of food items was not aimed to rubbish their ingenuity to produce so much food for local consumption and export the surplus; while greater collaboration is also needed with FAO in order to keep technical and financial aids that regularly come from the organization flowing.

“In addition, it would be helpful for the Nigerian government to take a hard and more discerning look at the usual irritating and self-serving suggestion from the World Bank, IMF, and the developed countries against subsidies in agriculture in developing countries.

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“This is because it is now evident that the suggestion is at variance with the practice in the developed countries.

“The developed countries do subsidize agricultural products. It is the support and subsidies that have enabled greater agricultural production and cheaper food without depressing the income of the farmers, but generating surpluses that the developed countries dole out as food aid to the developing countries, where the food aid sometimes serves as a disincentive to local food production.

“The Nigerian government has made food security a top priority in its economic reform agenda. It has also formulated agricultural policies and adopted some strategies it believes will make the agricultural sector of the economy more viable to ensure food security but the goal of food security seems increasingly elusive because the formulation and implementation of agricultural policies alone are not yielding the desired results and even if it is conceded that they are yielding some results, such results are incredibly marginal to be noticed by the people.

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“This is so and likely to remain like that because of the lacuna in the whole agricultural development program, typified by the absence of a food policy, ineffective linkage between the local food system, international food production, and supply system; inadequate funding of science and technology, universally acknowledged as one of the pillars on which food security rests; and the inability of the government to tackle decisively the increasing level of poverty and insecurity, which reduces access of many Nigerians to food production, supply and consumption,” Miko stated.

 

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FG Offers Up To 16.54% Yield On September Savings Bonds

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The Federal Government, through the Debt Management Office, is offering investors annual yields of up to 16.541% on its September 2025 Federal Government of Nigeria Savings Bonds.

The DMO, in a circular on its website on Monday, announced that the subscription window opens immediately and will close on Friday, September 5, 2025, with settlement scheduled for September 10, 2025.

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Coupon payments will be made quarterly on March 10, June 10, September 10, and December 10 and will be paid directly to investors.

The DMO offered investors two subscription categories of the Federal Government Savings Bond.

READ ALSO:DMO Unveils July FGN Savings Bond As CBN Offers N250bn In Treasury Bills

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The first is a two-year bond, which will mature on September 10, 2027, and attracts an annual interest rate of 15.541 per cent.

The second is a three-year bond, set to mature on September 10, 2028, with a higher annual interest rate of 16.541 per cent.

The two-year bond interest rate rose to 15.541% in September 2025, up from 14.401% in August.

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Similarly, the three-year bond recorded an increase to 16.541% in September, compared to 15.401% in the previous month.

The FGN Savings Bond programme, launched in 2017, aims to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure, low-risk government securities.

READ ALSO:Family Kicks As UK Varsity Sacks Nigerian Grandmother

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Each bond unit is priced at ₦1,000, with a minimum subscription of ₦5,000 and additional subscriptions in multiples of ₦1,000. Individual investors can subscribe up to ₦50 million.

On the status of FGN Savings Bonds, DMO noted it “qualifies as securities in which trustees can invest under the Trustee Investment Act; Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.

“Listed on The Nigerian Exchange Limited (and); qualifies as a liquid asset for liquidity ratio calculation for banks.”

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The office said the bond is “backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.”

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NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment

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The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.

It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.

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This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.

READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume

The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.

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It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.

This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.

The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

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Dangote Refinery Reduces Fuel Price

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Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.

This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.

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The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.

READ ALSO:Dangote Refinery Gets New CEO

In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.

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The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.

In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.

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