The agricultural sector will double by 2030

APO (African Press Organization) in a recent report said that the agricultural sector of Nigeria, the most populous country in Africa, could more than double by 2030. Moving from USD 112 billion per year recorded in 2013 to USD 263 billion in in 2030.

Nigeria is better known for its rich oil reserves, key source of income (14% of GDP) for the agricultural sector (22% of GDP). Agriculture and trade are stimulated by the expansion of the population  and will know continued growth of about +7.1% per year until 2030.

At this moment, the country will be in the top 20 of the world economy with a higher GDP than the Netherlands, Thailand, Malaysia, and a domestic market of over 160 million people, more than current populations of France and Germany combined.

Agricultural production will increase in volume and value through higher yields, better use of fertilizers, improved seeds and increased mechanization. The increased acreage and changes in the composition of crops and reduced post-harvest losses, still add to the productivity of the agricultural sector.

source : apo opa com