The Impact of Market Information Asymmetry on Food Prices and Farmer Incomes in Rural Nigeria
Abstract
Market information asymmetry remains a persistent challenge in Nigeria’s agricultural markets, especially in rural areas where smallholder farmers depend heavily on intermediaries for price and demand information. This study investigates how unequal access to market information influences food prices and farmers’ income levels in rural Nigeria. Using secondary data obtained from the National Bureau of Statistics (NBS), the Central Bank of Nigeria (CBN), and FAOSTAT covering the period 2010–2023, the paper applies a descriptive and econometric approach to examine the relationship between market information flow, price volatility, and income disparities. The findings reveal that farmers with limited access to real-time market information experience greater price uncertainty and earn significantly lower incomes compared to those with access to transparent market data. Furthermore, the study highlights that improved information dissemination through digital platforms and cooperative networks enhances market efficiency, stabilizes prices, and promotes income equity among rural producers. The study concludes that addressing market information asymmetry is crucial for achieving inclusive agricultural growth in Nigeria. It recommends stronger policy support for rural information infrastructure, expansion of mobile-based market systems, and improved agricultural extension services to enhance transparency and farmer welfare.
Keywords
Market information asymmetry; Food price volatility; Farmer income; Rural Nigeria; Market efficiency; Agricultural economics
Citations
IRE Journals:
Adesanya Nafisat Taiwo, Chibuzo Rosemary Uchechukwu, Emenya Collins Oyakhilomen, Akinnadeju Adeleye Adetokunbo, Adejumo Precious Ayanfeoluwa "The Impact of Market Information Asymmetry on Food Prices and Farmer Incomes in Rural Nigeria" Iconic Research And Engineering Journals Volume 9 Issue 4 2025 Page 1636-1643 https://doi.org/10.64388/IREV9I4-1711524-6702
IEEE:
Adesanya Nafisat Taiwo, Chibuzo Rosemary Uchechukwu, Emenya Collins Oyakhilomen, Akinnadeju Adeleye Adetokunbo, Adejumo Precious Ayanfeoluwa
"The Impact of Market Information Asymmetry on Food Prices and Farmer Incomes in Rural Nigeria" Iconic Research And Engineering Journals, 9(4) https://doi.org/10.64388/IREV9I4-1711524-6702
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