Investment Opportunities in Agricultural Sector

INVESTMENT OPPORTUNITIES IN AGRICULTURE

The agricultural potential of Nigeria is barely being tapped and this explains the inability of the country to meet the ever increasing demand for agricultural produce. Although the agricultural sector remains a dominant employer of labour, serious investment is needed across the board to enhance production and increase the contribution of the sector to GDP. Investment is required in the following priority activities:

(a) Crop production to achieve food security and to provide industrial raw materials. Potentials exist for the following crops:

Cereals: Maize, rice, sorghum, corn, millet, wheat.

Root crops: Cassava, yam, ginger, potato, cocFruits: Mango, banana, oranges, guava, papaw, pineapple.

Vegetables: Cabbage, green pepper, carrots, lettuce, spice, onions, melons.

Tree crops: Oil palm, cocoa, rubber, coconut, kola nut, coffee, she nuts, beniseed, cotton, cashew nut, sugar cane.

Others:
Commercial growing of flowers and ornamentals and experimental orchards for more temperate fruits-apples, grape vines and pears have been successfully established in the high plateau regions.

(b) Food processing and preservation involving industries that will use agricultural produce as raw materials.

(c) Livestock and Fisheries production which possess great potentials for development. Grazing lands are abundant, facilities for animal feed production are plentiful, and the in-land rivers, lakes and coastal creeks are sufficient to augment ocean fishery resources.


(d) Agricultural inputs supplies and machinery, water resources development especially for flood control infrastructure and irrigation.

(e) Commodity trading and transportation.

(f) Development and fabrication of appropriate small-scale mechanized technologies for on-farm processing and secondary processing of agricultural produce.

(g) Exploitation of timber and wood processing activities. A wide range of wood resources abound.


AVERAGE ANNUAL (1990-1998) OUTPUT OF MAJOR AGRICULTURAL COMMODITIES
CROP PRODUCTION (‘000 TONES)
A. Cereals
Maize 5954
Millet 5134
Millet 3048
Wheat 205
Sorghum 7096

B. Grain legumes or Pulses
Cowpea 1644
Soybean 248

C. Root Tubers
Yams 21100
Cassava 214
Coco yam 1589
Irish potato 85
Sweet potato 812

D. In Industrial Crops
Cotton 287
Groundnut 1716
Cocoa 288
Coffee 346
Sugar Cane 755
Palm kernel 742
She nut 265
Rubber 170
Ginger 49
Benniseed 58
Palm Oil 784
Coconut 141

These are widely used in food and beverage sub-sectors like flour mills, breweries, chemical, pharmaceuticals, pulp and paper, wood products and industrial starch.o yam.

Legumes: Soya beans, groundnuts, cowpeas.