Cultivating Crisis: Nigeria’s Agric Sector Faces 5-Year Growth Slump

Nigeria’s agricultural sector experienced a deceleration in growth, registering only 1.76% in 2024, which represents the lowest rate in five years. This downturn poses a considerable threat to the nation’s food security initiatives. Data from the National Bureau of Statistics (NBS) indicates that the growth trajectory of the agriculture sector has been inconsistent over the past five years, with 2024 marking the most significant decline.

The growth rate has varied, beginning at 3.42% in 2020, increasing to 3.58% in 2021, and then falling to 2.05% in 2022. Although there was a slight recovery to 2.10% in 2023, the growth rate fell again to 1.74% in 2024.

Professionals have identified several contributing factors to this decline, including:

·         Climate Change: Increasing temperatures and erratic weather patterns are adversely impacting crop yields and agricultural practices.

·         High Input Costs: Farmers are facing challenges due to the rising costs of essential inputs such as seeds, fertilizers, and equipment.

·         Inadequate Funding: A lack of sufficient financial support for farmers and agricultural programs is obstructing the sector’s development.

The repercussions of these issues are reflected in Nigeria’s food security landscape, which is under significant strain due to escalating conflicts, economic instability, and unusual prices for staple foods.

In response to these challenges, the Nigerian government has proposed several initiatives aimed at bolstering the agricultural sector, including:

·         Community-led Initiatives: Promoting community-driven efforts for sustainable agriculture and food production.

·         Rural Security: Improving rural security through community policing and the establishment of vigilante groups.

Insights from Industry Leaders

The downturn in agricultural growth presents significant repercussions. A report released in January by PricewaterhouseCoopers (PwC) indicates that around 33.1 million Nigerians face the threat of food insecurity, primarily due to ongoing economic difficulties and violence in farming areas.

Abiodun Olorundero, managing partner of Prasinos Farms, underscores the detrimental effects of climate change, elevated input costs, and insufficient financial support for farmers on agricultural development. He states, “The impact of climate change severely hindered farmers’ productivity in 2024, resulting in a downturn in agricultural growth.”

Muda Yusuf, director and CEO of the Centre for the Promotion of Private Enterprise, points out the critical role of insecurity within the agricultural domain. He remarks, “Insecurity poses a significant obstacle for farmers, particularly in the northern regions, where violence and abductions have severely disrupted farming operations.”

The reduction in agricultural growth in Nigeria carries grave consequences for the nation’s food security and economic progress. To confront this issue, it is vital to address the root causes, such as climate change, insecurity, and the lack of financial resources for farmers. By investing in irrigation infrastructure, enhancing access to credit, and encouraging sustainable farming practices, Nigeria can rejuvenate its agricultural sector and secure a stable food future for its population.