Nigeria Agriculture

Chapter | Agriculture from The Report: Nigeria 2022

In recent years focus has returned to agriculture as an important source of revenue for a diversified Nigerian economy. But despite the sector’s robust performance, the...

With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.

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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.

 

Where do you identify the remaining gaps in Nigeria’s agricultural value chain, and how can domestic players address them?

 

Agriculture played an important role in driving Nigeria’s economic growth prior to the discovery of crude oil in 1956. Indeed, between 1962 and 1968 the main source of foreign exchange was export crops. In more recent times, focus has returned to the agriculture sector as an important source of revenue as the country seeks to diversify the...

 

The pandemic has shone a light on vulnerabilities in the agriculture sector, and underscored the importance of ensuring food security and strengthening the agricultural chain. Some of the major problems that Nigerian farmers face include limited access to information and the market, insufficient financial support, and logistics and transport...

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