Yemisi Izuora
The Center for the Promotion of Private Enterprise (CPPE) has advocated for greater policy direction that will promote agricultural insurance in the Nigeria.
This according to the Centre’s Chief Executive Officer (CEO) Dr. Muda Yusuf, protect farmers from recording post harvest losses and other impacts that affects crops and consequences suffered by farmers.
Yusuf, said that beyond price floors and buffer stocks, Nigeria should adopt modern farmer income protection instruments as he urged the strengthening of agricultural insurance, including,Weather-index insurance and Revenue insurance pilots combining yield and price risk coverage
Insurance subsidies should be targeted at smallholders and anchored on credible farmer registries and digital verification to minimise abuse, he said.
The CPPE further emphasised the importance of predictable trade safeguards to prevent import-driven price crashes.
He said that while Nigeria must comply with regional trade obligations, it is necessary to adopt rules-based safeguards during import surges, enforce quality standards at borders, and strengthen anti-smuggling coordination.
Equally important is a National Agricultural Market Information Service providing,Daily commodity prices, Demand forecasts, Logistics cost updates and Storage availability nationwide
Better market information he said improves bargaining power, strengthens market transparency, and enhances efficiency.
He also called on Government to deliberately and urgently reduce the cost of farm inputs as a core food security strategy.
Current input costs are prohibitively high, including, Fertilisers, Improved seeds/seedlings, Agrochemicals, Farm machinery and equipment, Livestock feeds and vaccines and Storage and packaging materials.
He also advocated the urgent need for, Single-digit loan facilities and Improved technical support and extension services
“Reducing the cost of inputs and financing will boost productivity and lower production costs across value chains.” Yusuf said
The CPPE believes Nigeria’s agricultural transformation cannot be achieved without stabilising farmer incomes. Price collapses destroy incentives to farm, reduce production over time, and worsen rural poverty.
He said Nigeria must adopt a framework that combines, Price stabilisation tools, Buffer stock reforms, Storage and logistics investment, Processing expansion, Structured trading systems, Financing solutions and Insurance mechanisms.
Yusuf, called on the Federal Government, State Governments, commodity exchanges, development finance institutions, and private investors to work collaboratively in establishing a Farm Price Stabilisation and Farmer Income Protection Framework that is rules-based, transparent, fiscally sustainable, and supportive of private enterprise.
He argued that a stable agricultural market will not only protect farmers; it will strengthen food security, reduce inflationary pressures, expand rural employment, and improve Nigeria’s national economic resilience.