Real price and the Nigerian structural adjustment programme

Abstract

The study examines the trend in the movement of agricultural wages, input prices and produce prices. Although all nominal prices are on the increase, most real prices are on the decline. The only exceptions are cash crops prices. With this development, only cash crop farmers are currently not affected by the illusion of higher returns. If the trend is not redressed, this paper opines that it might create a problem for the future of agricultural production, especially the all-important food crops sector of the economy. It is the opinion of this paper, that the ever-increasing inflation rate must be pegged especially as it affects the agricultural sector, to avert a food crisis. 

Keywords: Structural Adjustment, Average annual growth rate, nominal and real prices, consumer price index, inflation Rate.