Long a critical sector for the Nigerian economy, agriculture recorded steady growth throughout the country’s recent recession and supported macroeconomic stability against a backdrop of volatility in the global oil market. Although the sector’s workforce, exports and GDP contribution have fallen in recent decades, as oil and gas production became Nigeria’s economic mainstay, the country is home to vast amounts of arable land and a large, diverse production base that includes many high-value cash crops, offering significant opportunity for development and investment. Recognising the sector’s high growth and export potential, the federal government of Nigeria has increasingly focused on agricultural development as a support mechanism for macroeconomic and non-oil growth. This chapter contains an interview with Audu Ogbeh, Minister of Agriculture and Rural Development; and a roundtable with Chaim Zach, Managing Director and CEO, Agric International Technology and Trade; Kabiru Rabiu, Group Executive Director, BUA Group; and Aliyu Abbati Abdulhameed, Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending.
Home to the national capital Abuja – one of the fastest-growing cities in Africa – the Federal Capital Territory has risen to become a significant investment destination in recent years. Supported by rapid population growth, rising GDP and expanding household consumption, a wide offering of opportunities have arisen across construction, mining, agriculture, ICT and real estate. However, rapid urbanisation presents serious challenges. The ongoing prioritisation of transport and infrastructure spending, coupled with efforts to increase private sector investment in real estate go some way towards addressing these issues. However, more remains to be done to further increase private sector involvement in large-scale infrastructure projects and to leverage the territory’s manufacturing potential. This chapter contains an interview with Muhammad Musa Bello, Minister of the Federal Capital Territory.