By Fatima Muraina
The Administrative Secretary of the Ondo State Agricultural Inputs Supply Agency (ODSAISA), Dr. Micheal Omoseyin, has stressed that increasing agricultural productivity remains the most sustainable solution to Nigeria’s rising cost of living, rather than relying solely on minimum wage increases.
Speaking with journalists in Akure yesterday, Omoseyin said the country’s persistent food inflation and supply-side constraints are the major drivers of the high cost of living, noting that boosting food production would make food more affordable for all Nigerians.
According to him, while minimum wage adjustments provide temporary relief for workers, they do not address the underlying challenge of inadequate food
production.
“Minimum wage helps people to buy expensive food. Agricultural productivity makes food cheaper for everyone,” he said.
He noted that more than 70 per cent of Nigerians are engaged in agriculture either directly or indirectly, adding that improving the agricultural sector would reduce food prices, create employment opportunities and lower the overall cost of living.
“If we fix farming, we fix food prices, we fix jobs and we fix the cost of living,” he added.
Dr. Omoseyin acknowledged the importance of wage increases in cushioning the effects of inflation on civil servants and workers in the formal sector. However, he pointed out that fewer than 10 per cent of Nigerians are formally employed, warning that wage increases without a corresponding rise in food production could further fuel inflation.
“Wage increases alone cannot solve a supply problem. If we don’t produce more, businesses will simply adjust prices upward,” he said.
The ODSAISA Administrative Secretary identified several critical areas requiring urgent investment to transform agriculture and make food more affordable. These include timely access to improved seeds, fertilisers and mechanisation, as well as the provision of rural roads, storage facilities and processing centres to reduce post-harvest losses, which he estimated at up to 40 per cent.
He also advocated increased access to low-interest financing for farmers and agro-processors, the adoption of climate-smart agricultural technologies through effective extension services, and improved security in farming communities to ensure uninterrupted agricultural production.
Drawing from his research on the competitiveness and comparative advantage of the palm kernel oil production value chain in Ondo, Edo and Osun States, Dr. Omoseyin observed that inadequate capital, poor storage facilities and transportation challenges constitute greater constraints to production than labour costs.
“When we remove these bottlenecks, the cost of palm kernel oil, palm kernel cake and other food items will drop. That is how we reduce the cost of living for all Nigerians, not just those on government payroll,” he explained.
He recommended a dual strategy to address the country’s economic challenges, comprising targeted wage adjustments and social protection measures for vulnerable households in the short term, alongside sustained investment in agriculture to increase food production, generate employment and reduce dependence on food imports.
“Nigeria cannot pay its way out of a food crisis. We must grow our way out of it,” he said.
Dr. Omoseyin reaffirmed ODSAISA’s commitment to supporting farmers and agro-processors through the provision of quality agricultural inputs, improved market linkages and initiatives aimed at enhancing food security and affordability across Ondo State and Nigeria at large.