Nigeria is one of Africa’s largest economies, with a GDP worth 252.7 billion U.S. dollars. The country is the second-largest producer of tomatoes and yams worldwide, with an annual production capacity of 1.5 million and 44 million tons, respectively.
Nigerian Agriculture
Nigeria is also a top producer of cocoa, accounting for 7% of the world’s cocoa output. With this impressive output, Nigeria could potentially become a major exporter of cocoa and other agricultural products, boosting its economy and international trade.
Nigerian Farmer
The country is exceptionally well-positioned to expand its agricultural exports considerably in the coming decade due to its diverse agro-ecological zones, widespread availability of fertile land and water resources, as well as proximity to large consumer markets on the continent and globally.
Fact Check
- Nigeria records one of the highest inflation rates worldwide. In August last year, the inflation rate reached 28% in urban areas. This year, food inflation stands at 39.93%.
- The Food and Agriculture Organization (FAO) predicts that 33.1 million Nigerians will face hunger in 2025.
- Over 10 million Nigerians have fallen into poverty between last year and now.
- By the end of 2024, 40.7% of Nigerians are expected to live below the poverty line.
- As of November, food inflation hit an all-time high of 39.93%.
Nigeria Farm
