Rethinking Agriculture as the Fulcrum of Nigerian Economy

Abstract

The quest of making agriculture the focus of the Nigerian economy is no longer negotiable, considering the fact that in the past it had played pivotal role in the most eventful era of Nigerian economy and given the decline in the country’s oil revenue. It is based on this observation that the current study examined how the Nigerian state can reconcile itself with the reality of returning agriculture to be the fulcrum of her economy. The study adopted descriptive analytical technique on the primary data obtained through participant observation method, and monitored radio programmes on the status of Nigerian economy and agriculture in Nigeria. This was aided with other secondary data. These data were analysed to arrive at the result. Findings and available evidences revealed that, despite the human and material potentials possessed by the Nigerian state especially in the agricultural sector, the country is yet to get it right as far as economic attainment is concerned, as most of the efforts at placing agriculture as the driver of Nigeria’s economy ended up in futility. In addition, the removal of subsidy from agriculture, inadequate incentives for rural farmers, absence of commodity and value chain board, and poor funding of agricultural research institutes were identified as militating against growth in the Nigerian agricultural sector, despite continuous heavy expenditure by successive governments. In view of these challenges, it is therefore necessary to rethink the general concept of agriculture as a means of reviving the wealth of the Nigerian state. In doing this, holistic measures must be put in place at government, individual and corporate levels.