Nigeria has the potential to feed the world considering
the fact that the country is one of the world’s largest producers of major
agricultural commodities in spite of challenges in the sector domestically.
Efforts to boost investment in
agriculture has yielded some results and Nigeria has recorded increase in food
production by 21 million metric tonnes between 2012 and 2014. Also, food import bills has declined from $6.9bn in 2009 to $4.35bn in 2013.
Nigeria got $8bn investment commitments
between 2011 and 2015; $40m investment commitment in rice production; increase
in fertilizer use from 13kg per hectare to 80kg per hectare; and the number of
seed companies increased from 11 to 34 between 2011 and 2014.
NEXIM notes that in spite of the numerous challenges in the
agricultural sector, the country have the potential not only to be
self-sufficient, but to feed the rest of the world.
According to the bank, statistics from the Food and
Agriculture Organisation showed that in the ranking of major producing
countries of the world, Nigeria is number one in the production of cassava, yam
and cowpea; second in producing millet; and third in sweet potato, sorghum and
groundnut production.
Credit: en.starafrica.com
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