Obafemi Awolowo University, Ile-Ife, recently hosted her 13th Annual Faculty of Agriculture lecture delivered by Dr. Adetunji Oredipe, Senior Agricultural Economist at the World Bank, titled "Militating Rising Food Prices: The Underlying Issues – A Close View of the Nigerian Food System." The lecture addressed the critical factors driving Nigeria’s food price crisis and outlined actionable strategies to create a sustainable and resilient food system.
Dr. Oredipe identified key challenges, including inadequate infrastructure, restricted access to financing for farmers, weak food distribution channels, and the escalating effects of climate change on agricultural productivity. Highlighting the gravity of the situation, he stated, “The rising cost of food in Nigeria is not just an economic concern; it is a pressing national security challenge that demands immediate and collective action.”
To mitigate the crisis, Dr. Oredipe proposed the following strategies:
1. realign public policies and expenditures by focusing on public support to agriculture and food, especially massive support to medium and large-scale irrigation infrastructure, delivering positive outcomes for the people and the economy;
2. new programs must focus on new frontiers in digital agriculture and innovations through accelerating and scaling of digital technologies, innovations, and use of data that work for farmers, entrepreneurs, and government;
3. promotion of agribusiness by improving the enabling environment for private finance, create de-risking platforms and instruments, and deliver public-private finance for food systems transformation;
4. introduce sustainable farming techniques to counteract climate risks and ensure long-term agricultural productivity.; and
5. avoiding ad hoc solutions such as protectionist agricultural policies which will only further be exacerbating inefficiencies and unsustainable practices in the sector. Such unsustainable practices would only increase stress on government budgets, and government must rethink distorting and expensive incentives and reconsider agricultural subsidies to farmers.
6. Invest in critical infrastructure such as rural roads, modern storage facilities, and efficient transport networks to optimize food production and distribution.
7. Adopt a balanced approach that encourages the importation of what cannot be produced locally while promoting and supporting domestic agriculture to ensure long-term food security.
He highlighted a number of recommendations including:
i. Governments need to maintain open trade and keep the supply of food flowing across states to reduce regional price disparities and shortages.
ii. Governments, with the help of the private and philanthropic community, must adopt urgent measures to strengthen and expand their targeted food programs and safety net initiatives for social protection.
iii. The international community — both multilateral and bilateral agencies — must mobilize significant additional fast-track resources to support food production efforts of the government and private sector players.
iv. The government should commit to developing and implementing a National Food Prices Management Plan. This is not an attempt to advocate for food price control, but a strategic plan to manage food prices sustainably.
v. Private Sector Driven Large-Scale Commercial Agriculture*: Advocate for decisive action to create an enabling environment for privately driven large-scale commercial agriculture enterprises, like Latin America, where farming is treated as a big-time business.
vi. Government needs to directly connect the output of food production programs to strategic commercial food reserve operations, intervening in raw material prices for food and beverage companies, and addressing the major staple food items that contribute to food inflation.
Dr. Oredipe stressed the importance of collaboration, remarking, “Building a resilient food system requires innovation and partnership. Every stakeholder—government, private sector, and individuals—must play their part in addressing these challenges and safeguarding Nigeria’s food future.”
The lecture attracted a distinguished audience from various sectors. Among the attendees were Notable attendees included Prof Simeon Bamire, Vice Chancellor of Obafemi Awolowo University, Deputy Vice Chancellor, Administration : Prof Daramola, Dean Faculty of Agriculture: Prof Tijani, Prof Olalekan Soyelu: Vice Dean, Faculty of Agriculture; Principal Officers of the Obafemi Awolowo University and the University of Ibadan, members National Association of Agricultural Students, members, Nigerian Association of Agricultural Economists, heads of departments, Otunba Taiwo Adeniji, a renowned economist, and Prof Veronica Obatolu, Executive Director of IAR&T, Ibadan. Also present were representatives from farmers’ associations, civil society organizations, private sector stakeholders, and members of the university community. The event was chaired by Aare Egbe-Omo Balogun of Ibadan land, Chief Adegboyega Taofeek Adegoke.
Obafemi Awolowo University once again demonstrated its leadership in addressing pressing national issues through intellectual engagement. By hosting this lecture, the university provided a platform for diverse stakeholders to exchange ideas, foster collaboration, and propose practical solutions to challenges facing the nation’s food systems.
The lecture concluded with a strong call to action for all Nigerians. Stakeholders across the public and private sectors were encouraged to implement sustainable agricultural practices, strengthen policy frameworks, adopt transparent pricing policies, and work collaboratively to combat rising food prices.
