Managing Director of Food Concepts Limited, Kofi Abunu, has said Nigeria’s rising food prices are being driven largely by inefficiencies within the food supply chain, rather than an actual scarcity of food.
Speaking in an interview, Abunu explained that significant quantities of food produced locally are lost before reaching consumers due to challenges such as poor storage facilities, lack of cold-chain infrastructure, bad road networks, and unreliable power supply. These gaps, he noted, reduce effective supply and push prices upward.
He added that high transportation and energy costs further increase production and distribution expenses, which businesses are forced to pass on to consumers. According to him, weaknesses in post-harvest handling, aggregation, and processing systems also contribute to food waste and price inflation.
Abunu stressed that addressing these structural issues rather than focusing solely on increasing production would go a long way in stabilising food prices and improving affordability across the country.
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