By Terna Chikpa, Jalingo
Farmers in Taraba State have appealed to their creditors to exercise leniency in the recovery of loans obtained during the 2025 farming season, following a sharp drop in the prices of farm produce.
The farmers lamented that they have lost not only their expected profits but also the capital invested in farming activities in 2025.
Some rice farmers in Lau Local Government Area who spoke to Nigerian Tribune said the situation was worsened by poor harvests caused by inadequate rainfall, coupled with the continuous decline in produce prices.
Mr. Timothy Aka and Mr. Zenkye Ishaya said they borrowed heavily to invest in farming but are now struggling to repay their loans.
“We borrowed huge sums and invested, but now we are at the mercy of our creditors. Due to the shortage of rainfall and the continuous decline in the prices of our produce, even the capital we invested cannot be recovered,” they said.
A Jalingo-based grains trader, Mr. Jonathan Mnyimanga, said he purchased grains worth over ₦55 million for storage and also invested ₦7 million in rice and soybean farming but failed to recover up to half of the total investment.
“Part of the money I invested is not mine. I borrowed it from an investor with the aim of refunding him after harvest, but as we speak, I cannot even recover the capital I invested,” he recounted.
Meanwhile, Mrs. Deborah Igbayima said the poor harvest and falling prices of farm produce in 2025 have taken a serious toll on her health.
“I am sick because I borrowed to invest, but now I am at the mercy of my creditor,” she said.
“I have gone to his house several times to appeal that the matter should not be taken to the police or court, but he has not given me a positive response,” she added.
Mrs. Igbayima said she borrowed ₦3 million, invested ₦2 million in grain storage and ₦1 million in farming.
“At that time, I bought a bag of maize at ₦55,000, rice at ₦40,000, and soybeans at ₦70,000. Today, a bag of maize sells for ₦15,000, rice ₦25,000, and soybeans ₦30,000. How can I survive in a situation like this?” she asked tearfully.
The farmers described 2025 as the worst farming year in the last decade, drawing a stark comparison with 2024, when 10 bags of farm produce easily generated between ₦750,000 and ₦1 million.
“Now, the same 10 bags can hardly fetch ₦200,000,” they said.
