Farmland is getting stupid expensive, to the point where regular farmers might get totally priced out. A top guy from the All Farmers Association, Otunba Oke Babafemi, says an acre around Epe now costs around six million naira. Prices are blowing up everywhere, from two million to eight million an acre, depending on the spot. A plot near Abuja or off the Lagos-Ibadan expressway shows you can only find somewhat affordable land way out in the sticks. This whole squeeze is scaring off new farmers and wrecking the chances for small-scale food production.
An industry expert, Debo Thomas from Hastom Food & Farms, says this is just the start. He points out that Nigeria's population is huge, but the actual land area is surprisingly small, about the same as Namibia, which has barely any people. Now everyone wants a piece for building or farming, and foreign investors are making it worse by swooping in to buy huge chunks for commercial agriculture. He mentions seeing them plant trees for paper products on massive plots between Ore and Edo State. With demand totally outstripping supply, these insane prices are the new normal, threatening rural livelihoods and local food security.
An industry expert, Debo Thomas from Hastom Food & Farms, says this is just the start. He points out that Nigeria's population is huge, but the actual land area is surprisingly small, about the same as Namibia, which has barely any people. Now everyone wants a piece for building or farming, and foreign investors are making it worse by swooping in to buy huge chunks for commercial agriculture. He mentions seeing them plant trees for paper products on massive plots between Ore and Edo State. With demand totally outstripping supply, these insane prices are the new normal, threatening rural livelihoods and local food security.
