By Nnasom David

Veriv Africa has unveiled its inaugural food price baseline survey report, a comprehensive analysis of key agricultural sectors in Nigeria, providing crucial insights into market dynamics and the challenges faced by smallholder farmers.

The report, which serves as a foundation for the Veriv Africa Food Data Dashboard for Nigeria, is set to revolutionize data-driven decision-making in the nation’s agricultural landscape.

The survey, conducted in February 2025, engaged 543 smallholder farmers across five key states: Ondo, Kano, Niger, Kaduna, and Benue.

 The findings paint a detailed picture of farmer demographics, sentiments, challenges, and priorities, offering a critical baseline for understanding the current state of Nigeria’s agricultural sector.

“This report is a significant step towards providing stakeholders with accurate and timely market intelligence,” stated a Veriv Africa spokesperson. “Our goal is to empower policymakers, agribusinesses, and farmers with the data they need to drive sustainable growth.”

The survey revealed that 84% of surveyed farmers operate on small landholdings of 1–4 acres, with 60% relying on personal savings for funding and only 12% accessing formal credit. “Access to finance remains a critical barrier for our farmers,” the report highlighted.

Farmers identified lack of finance (54%), insecurity (21%), and post-harvest losses (12%) as their most pressing challenges. “The insecurity situation is really affecting our ability to farm,” one farmer from Benue state was quoted in the report, referencing the ongoing farmer-herder conflicts. “We need urgent intervention from the government.”

The report also documented baseline crop prices: Cocoa at ₦110,000 per 50kg bag, Sesame at ₦102,305.19 per 50kg bag, Farm-priced un-milled Rice at ₦43,750 per 50kg bag, Yam at ₦39,423.08 per 50-tuber group, Corn at ₦36,309.52 per 50kg bag, and Tomato at ₦12,500 per 50kg basket.

While 64% of farmers reported feeling economically better off due to recent high crop prices, 52% expressed pessimism about the sector’s future. “We are seeing high prices now, but the costs of inputs are also rising,” a farmer from Kano stated. “It’s hard to be optimistic.”

Despite these concerns, 82.5% intend to continue cultivating their primary crops. However, those considering a switch cited high input costs, pests, diseases, and low yields as their main reasons.

Farmers’ most urgent requests included access to finance (52%), improved security (22%), and subsidized inputs (19%).

The report recommended several critical interventions, including addressing farmer-herder conflicts, investing in rural infrastructure, overhauling the agricultural credit system, and reviving initiatives like the Staple Crop Processing Zones (SCPZs).

“We need to see decisive action to address these challenges,” the Veriv Africa spokesperson emphasized. “Investing in rural infrastructure and improving access to finance are crucial for the sector’s growth.”

Additionally, the report advocated for the training and deployment of 50,000 digitized agricultural extension agents by 2026 to bridge knowledge gaps. “Providing farmers with access to modern agricultural practices is essential,” the spokesperson added.

The Veriv Africa Food Data Dashboard, powered by these insights, aims to provide policymakers, agribusinesses, and financial institutions with the information needed to make informed decisions and drive sustainable growth in Nigeria’s agricultural sector.