As Nigeria looks to restructure its economy to be more diversified and sustainable, agro-processing is emerging as a key tool to improve agricultural value added while also bolstering the sector’s status as a driver of economic growth.
As Nigeria looks to restructure its economy to be more diversified and sustainable, agro-processing is emerging as a key tool to improve agricultural value added while also bolstering the sector’s status as a driver of economic growth.
In this Growth & Recovery video, OBG explores how agriculture in Nigeria is a major contributor to both employment and revenue, and is especially important as the country works to diversify its economy away from oil.
Recent years have seen renewed policy focus on agriculture as an important source of revenue for a diversified Nigerian economy, with plans to revitalise the sector centred on increasing local production and improving the value chain.
Despite an increase in crop production and international trade following a pandemic-disrupted 2020, global food prices have risen to 10-year highs, increasing pressure on many emerging markets.
For many countries across Africa, agriculture remains one of the most important sectors of the economy. Agriculture accounts for 14% of total GDP in sub-Saharan Africa, and a majority of the continent’s population is employed in the sector.
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