Nigeria’s farming landscape faces a slowdown, with growth reducing to 1.3 percent in the third quarter of 2023.
According to the National Bureau of Statistics, this decline is attributed to a drop in farmers’ productivity, causing a 0.04 percent year-on-year reduction from the corresponding period in 2022.
On a quarter-on-quarter basis, the sector’s growth took a hit, slowing by 0.20 percent from 1.50 percent in Q2.
The sector’s contribution to the GDP shrank to 29.31 percent in Q3 of 2023, down from 29.67 percent in the same period last year.
Abiodun Olorundero, Managing Partner at Prasino Farms, pointed to inflation and rising production costs as culprits behind the decline, highlighting that reduced production levels have led to surges in staple food prices, including rice, maize, soya bean, and sorghum.
Similarly, Jude Obi, President of the Association of Organic Agriculture Practitioners of Nigeria, expressed concern about the ongoing decline in production levels, citing factors such as people leaving the country and discouragement among farmers.
“Production is completely low and it will continue to decline because many people are leaving the country; people are discouraged.
“Most of our agricultural products come from smallholders, and these smallholders will have to feed themselves,” he said.
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