Tag Archives: Agriculture

Agriculture and the Nigerian Economy


 

Nigeria Economy is blessed with series of Natural resources, yet they suffer in the midst of plenty. Nigeria has a high poverty rate comparison with other African countries despite its high GDP.

well I once shared an article on Ways to boost the Nigerian Economy Through Agriculture Maybe you should check it out.

However, Nigeria’s Agricultural sector has a high potential for growth, but this potential is not realized. Productivity is low and basically stagnant.

Farming Systems, which are mostly small in scale, are still predominantly subsistence-based and for the most part depend on the varieties of the weather . Many agricultural policies have also been ineffective, either because they have been misguide  or because their impacts have been swamped by macro policies affecting inflation,  exchange rates, and cost of capital.

Recognizing these challenges the Federal Government of Nigeria has identified the modernization of the agricultural sector as a major priority.

This article is aimed at shedding some light on the role of agriculture in the Nigerian Economy.

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Agriculture involves the science, practice and occupation of cultivating land ans raising crops. It also involves the feeding, breeding and raising of livestock, The main purpose of agriculture is to provide food and raw materials for human use.

Nigeria is currently poised to be a world power in the Agricultural sector.

The fact that Nigeria is richly blessed with abundant human and Natural resources is one point that has been consistently repeated in Various fora.

Agriculture contributes between 30 and 40 percent to the national gross domestic product (GDP) of the the country with a huge majority of the rural population engaging in subsistence Agriculture.

The relatively diverse variety of climate condition in Nigeria makes it possible to raise a wide range of crops across the country.

The major crops grown in economic quantity in Nigeria are beans, cashew nuts, cassava, cocoa, groundnuts, gum, Arabic kola-nut, Maize, melon, millet, oil palm, plantain and banana, rice, rubber, sorghum, Soy beans and yams.

Coupled with these crops Nigeria also produces fruits such as pineapples, oranges, lemon, lime, and tangerine.

Prior to the discovery of oil in Nigeria, agriculture was then the highest earner of foreign exchange for the country, and Nigeria was also largely self-sufficient in food production.

Although agriculture is no longer the focal point of the Nigerian Economy, it still plays some important roles in the country.

………………..To be continued on Roles of Agriculture in Nigeria’s Economy.