Nigeria’s agriculture sector sees positive growth in Q2 despite COVID-19 headwinds

Nigeria's agricultural sector has shown resilience and positive growth, with a 1.58% increase in the second quarter of the year, despite the challenges posed by the ongoing economic headwinds. This growth comes at a time when the non-oil sector of the economy experienced a significant decline of 6.05%. The focus on smallholder farmers as a driving force for the National Economic Sustainability Plan highlights the importance of agriculture in Nigeria's economic development. Chike Nwagwu, the CEO of Novus Agro, recently shared insights on the sector's performance in an interview on CNBC Africa. According to Chike Nwagwu, the CEO of Novus Agro, the growth in Nigeria's agriculture sector is in line with expectations. He emphasized that agriculture and food consumption have proven to be resilient in the face of challenges brought about by the COVID-19 pandemic. Despite the impact of the pandemic, the sector continues to expand, albeit not as rapidly as anticipated, considering the level of government investment. One of the standout performers in the sector has been livestock, particularly poultry farming. Nigeria has witnessed significant growth in poultry production, with numbers skyrocketing from less than 50 million to over 250 million in just five years. This surge can be attributed to policies restricting imports and promoting local production. By banning poultry imports and curbing competition from foreign products, the government has created a conducive environment for domestic producers, leading to increased activity and production. While acknowledging the strides made in the agriculture sector, Chike Nwagwu highlighted the importance of sustained focus and investment in agriculture to bolster Nigeria's economic resilience. He noted that the sector presents abundant opportunities for growth and development, making it a key pillar for building a stable and robust economy. Government initiatives, such as the provision of funds and input support to farmers, demonstrate a commitment to driving agricultural productivity. However, Chike Nwagwu also raised concerns about the current weather conditions affecting agricultural output. Unusually dry weather and delayed rains pose challenges for crop yields, potentially impacting productivity levels. Despite these challenges, interventions such as support for dry season planting aim to mitigate the impact of adverse weather conditions on agricultural production. The outlook for the sector remains optimistic, albeit with necessary precautions to address current climate challenges. As Nigeria navigates the economic uncertainties brought about by the pandemic, the agriculture sector stands out as a beacon of hope and growth. With a focus on smallholder farmers and strategic interventions, the sector continues to drive positive momentum in the country's economic landscape. The resilience and adaptability of Nigeria's agriculture sector underscore its significance as a vital component of sustainable economic development and food security.