Agriculture
From The Report: Nigeria 2016
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While oil may be Nigeria’s breadwinner, agriculture remains the most important component of the country’s economy. The sector is the largest employer and accounts for 23.9% of GDP. And yet for many years the agriculture industry took a back seat to hydrocarbons, with Nigeria rising to be a key global producer. However, with the fall in the price of oil, the country’s high dependence on imports and a weakening currency, domestic agricultural is taking centre stage once again. In the coming years, the West African nation is likely to become a substantial producer of staple food crops, such as wheat and rice. At the same time, moves are afoot to rejuvenate traditionally strong segments like cassava and cocoa. While it remains to be seen whether the government can meet many of the ambitious targets it has set for these crops, the commitment to reducing imports and inflationary pressures, and boosting lending should ensure that production continues to increase, edging Nigeria closer to self-sufficiency and strong export growth.

This chapter contains an interview with Audu Ogbeh, Minister of Agriculture and Rural Development.

Articles from this Chapter

Overview

Back in the limelight: Productivity growth can help the sector fulfil its potential
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While oil may be Nigeria’s breadwinner, agriculture remains the most important component of the country’s economy. The sector is the country’s largest employer and accounts for 23.9% of GDP. And yet for many years the agriculture industry took a back seat to the country’s rise as a key global hydrocarbons producer. However, with the fall in the price of oil, the country’s high dependence on imports and a weakening currency, domestic agricultural is taking centre stage once again. Recent…

Interview

Sowing growth: OBG talks to Audu Ogbeh, Minister of Agriculture and Rural Development
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Interview:Audu Ogbeh How would you assess the effectiveness of the Agriculture Transformation Agenda (AGA)? AUDU OGBEH: The AGA has made considerable progress since 2011, although it has had its limitations as well. The Growth Enhancement Support (GES) scheme was quite successful in 2012 and 2013, but ran into difficulties when too many companies and individuals became involved in the distribution of fertiliser and seeds. The e-wallet scheme worked for many farmers, but was not useful in…

Analysis

Staple of the future: New initiatives aim to raise the economic profile of cassava
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As part of the process of improving food security and the profitability of the agriculture industry, the government is turning its attention to stoking not only production but also the consumption of staple crops. The government wants to play to the industry’s key strengths and, as such, is hoping to extract greater benefit from the most widely produced crop in the country: cassava. If the strategic shift takes hold, it would bring in greater foreign exchange revenue for the country, reduce dependence…

Analysis

Fertile territory: Boosting fertiliser use can help Nigeria reach its yield potential
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Nigeria has a number of constraints hampering growth in the agricultural sector, ranging from transport networks to access to financing. However, chief among the challenges is limited productivity. The country suffers from sub-par yields, which curb farmers’ profitability and restrict efforts to achieve self-sufficiency in the sector. Consumption One answer to the productivity problem lies in the choice of inputs used in farming. The proliferation of strong seed varieties and fertiliser is minimal.…