Agriculture

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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.

As the world works to bring climate change under control, there is a growing awareness of the negative ramifications of many forms of food production. As a result, some foodstuffs with smaller carbon footprints are gaining traction, creating opportunities for emerging markets.

With a population larger than the other five GCC countries combined, Saudi Arabia accounted for more than 50% of the region’s food imports prior to the pandemic, and 80% of food consumed in the Kingdom came from abroad.

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.

As governments across West Africa prioritise their textile industries to drive post-pandemic recovery, a number of private sector initiatives are supporting the segment’s growth.

The trade dispute between Qatar and some of its neighbours in 2017-20 served to strengthen the country's food security, spurring it to ramp up domestic production capacity and diversify global trade partners.

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