While oil may be Nigeria’s breadwinner, agriculture remains the most important component of the country’s economy. The sector is the country’s largest employer and accounts for 23.9% of GDP. And yet for many years the agriculture industry took a back seat to the country’s rise as a key global hydrocarbons producer.
As the world’s fourth-largest producer of cocoa – a crop that may have greater importance on a global scale in the coming years due to a projected shortage – Nigeria has seen growing domestic yields in 2014, albeit at a smaller rate than expected. Cocoa farmers in the country face a number of challenges, including volatile weather, disease and pests, and export...
With 170m people representing a massive domestic market, and a need to improve the supply stability of raw ingredients, Nigeria hopes that growth in agribusiness will help spur demand for the nation’s farmed output. From 2002 to 2012 sales in the food-processing sector doubled to nearly $20bn, according to a US government report, yet that number represents a market that...
With the world’s seventh-largest population, which continues to grow rapidly from a base of 170m, agriculture is an exceptionally important element of Nigeria’s economy. After decades of declining production, trends have been moving in the opposite direction in the past several years as overall food supply rises. Guided by the Agricultural Transformation Agenda (ATA),...
The Federal Ministry of Agriculture (FMARD) released a mid-term report evaluating its Agricultural Transformation Action Plan (ATAP) in May 2013. It aimed for a paradigm shift, in which the logic of the private sector would be applied to a traditionally public sector, and claimed that the result would be more jobs, more food and a better future for...
The largest contributor to Nigeria’s GDP, the agriculture sector accounted for a 40.1% share as of mid-2013, according to the Nigerian National Bureau of Statistics (NBS). It is also the main source of employment in the country, responsible for more than 60% of jobs, as per figures from the International Fund for Agricultural Development. Increases...
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