A review and analysis of agricultural prices in Nigeria

Abstract

This paper reviews the various prices which have come into existence in the agricultural sector since the re-organization of the produce marketing system. The paper is categorized into two section, with the first section explaining how agricultural prices are determined and the second section explains the trends associated with agricultural sector since 1977. The author reveals common prices to includes: (i) producer prices, (ii) takeover prices, (iii) local sale prices and (iv) guaranteed minimum prices. One notable difficulties observed by the author is the gap in the compilation of agricultural price data is the absence of a national body that can coordinate the efforts of various institutions presently involved in that assignment. Conclusively, It is hoped that the proposed agricultural data bank in the country will solve this problem.