With the National Bureau of Statistics(NBS) recording a real GDP growth rate, on an aggregatebasis, of 7.13% in the first quarter of 2011, and a slightly lower 6.17% for the same quarter in 2012, Nigeria boasts the continent’s second-largest economy after South Africa. Africa’s largest oil producer, Nigeria is the third-largest recipient of foreign direct investment in the continent after Angola and Egypt, according to the US Diplomatic Mission.
Self-sufficiency is the over-arching theme of the action plan to revitalise the agricultural sector. Raising import tariffs on key staples such as rice and wheat is designed to boost domestic investment and production. Nigerian farmers and producers used to play an important role on the global stage, and Abuja hopes its new plan will put the sector...
Holding a loaf of bread in one hand President Goodluck Jonathan extolled the virtues of cassava flour to an assembled audience of journalists and dignitaries at the Federal Executive Council in Abuja in November 2011. Nigerian bakers are being strongly encouraged to bake bread made with up to 40% cassava flour instead of wheat. Leading food...
In the 1960s Nigeria was an agricultural powerhouse. Its warm tropical climate, fertile land and ample water resources provided by the Niger and Benue rivers made it an ideal location to grow a range of crops. By 1961 the country controlled 42% of the global trade in groundnut oil, 27% of the world’s palm oil industry and 18% of its cocoa trade,...
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