Agric Value to Hit N91trl

• Agric Value to Hit N91trl

Nigeria’s agricultural sector would be yielding about $256 million, (about N91trillion) by year 2050, an expert said yesterday.

The first vice president, Fishery Society of Nigeria (FISON), Dr. Bola Adekoya who spoke yesterday at the on-going five-day training workshop on “Agricultural Value Chains, AVC, Stakeholder’s Capacity Development” in Lagos, said the figure is good enough to attract more competent hands, especially the youths, into the sector for the growth of the economy.

The forum was organised by the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).

Adekoya said agric growth figure was 10 times bigger than the country’s budget of 2018 put at N9trillion.

He stressed that cassava chips and pellets have an estimated value of $1billion and a growth prospect of 20 per cent per annum.

He said the enormous growth prospects in the sector is good enough to make most Nigerians realise that agricultural business is a worthwhile venture. He added that the sector is said to be contributing about 47 per cent of the nation’s Gross Domestic Product (GDP) and over 10 per cent contribution in export earnings.