Agriculture declined by 1.33% in 2018—NBS

By Editor on 15/02/2019

Share on facebook Yahoo mail icon Gmail icon

Views: 705


The agriculture sector experienced a decline of 1.33 per cent in 2018, recording an increase of 2.12 per cent against the growth of 3.45 per cent recorded in 2017.

Recent Gross Domestic Product report from the National Bureau of Statistics indicated that in real terms, the sector grew by 2.46 per cent (year-on-year), a decrease of 1.78 per cent points from the corresponding period of 2017, but an increase of 0.55 per cent points from the preceding quarter.

Annual 2018 growth was 2.12 per cent, which was lower than the 3.45 per cent recorded in 2017, according to the NBS.

The sector contributed 26.15 per cent to overall GDP in real terms during the fourth quarter, slightly higher than the contribution in the fourth quarter of 2017 (26.13 per cent), but lower than the third quarter of 2018 (29.25 per cent).

Agriculture sector’s contribution to real GDP in 2018 was 25.13 per cent, up from 25.08 per cent in 2017.

The statistics reflected a not-so-impressive performance of the sector which stakeholders attributed to the ongoing crises between herdsmen and farmers in the major food baskets of the nation.

The NBS reported that four activities made up the sector; crop production, livestock, forestry and fishing.

In addition to insecurity, the country’s food production is also challenged by the lack of government financial support to farmers, inadequate basic infrastructure, rising cost of farming inputs, according to the United States Agency for International Development.

The Federal Government had ended a fertilizer subsidy regime that made fertilizer directly available to farmers, through an e-wallet system that was initiated by the former Minister of Agriculture and Rural Development, Dr Akinwumi Adesina.

The Minister of Agriculture and Rural Development, Chief Audi Ogbeh, had ended the programme, explaining that it was too expensive to sustain. The regime instead reduced the price of fertilizers from about N9,000 a bag to N5,500 a bag under the Presidential Fertiliser Initiative.

But like so many schemes, the smallholder farmers who constitute the bulk of the farming community in Nigeria do not all have access to the government schemes and not many of them can afford to pay the stipulated price for fertilizer and other farm inputs.

Experts also argued that the contribution of agriculture to the GDP would continue to remain low if the country continued in the primary mode of farming.

They maintained that for a country with 180 million people, agriculture needed to be positioned in the Fast-paced Information Technology world in order to grow.

A former Director-General, West African Institute for Financial and Economic Management, Prof Akpan Ekpo, said the country needed to embrace mechanised farming before agriculture could register any form of impact.

The Deputy Director-General for Partnerships and Delivery, International Institute for Tropical Agriculture, Dr Kenton Dashiell, recommended improvement of yield per hectare, saying that the average yield per hectare for Nigerian crops was still low compared to other countries.--Punch

Posted 15/02/2019 08:22:19 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Policemen kill colleague, mistake him for kidnapper

FG to decentralise power generation, distribution

National Assembly panel cuts INEC polls budget by...

2019 election: Buhari defeats Atiku (See full result)...

I’m not bothered about defections from APC, says...

Plateau massacre suspects must be tried in Jos...

PDP sweeps poll in Ekwerememadu's ward

Building collapse: 3,235 people die in 12 years...

DSS Siege on NASS: It's a coup against...

New portfolio: I don’t know how Interior Ministry...

Herdsmen to pay for grazing reserves – Osinbajo...

FEC Approves ‘No Work, No Pay’ During Strike,...

 

Latest News Gov. Ugwuanyi hands over 65 security vehicles to police Buhari seeks Senate’s approval to pay N10.069bn to Kogi Govt Daura’s daughter reveals other side of Aisha Buhari over Villa video Nigerian student shot dead in US over loud music Ekweremadu charges Environmental MDAs on early budget approval Imo plans summit to end militancy EU, US, 74 others to monitor Kogi, Bayelsa polls FG budgets N360m for Chibok girls in Atiku varsity PDP raises alarm over Buhari's move against online media State of education in Nigeria horrifying, country in serious trouble – Soyinka Adeboye hits FG on border closure, VAT increase, others France-bound passenger slumps, dies at Lagos Airport after news of wife’s death

 

Most Read Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (14,802 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (14,567 views) ASUU strike: Senate intervention ends in deadlock (13,777 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (12,744 views) All you need to know about Peter Obi, PDP VP Candidate (11,868 views) Sickle cell support group seeks lgovernment intervention (11,811 views) Ebonyi bans embalming of corpses in homes (11,570 views) Israel serves quit notice to African illegal migrants (10,740 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (10,601 views) The Big Kick-off: World greatest sports fiesta begins in Russia (10,264 views) England beat Spain to win U17 World Cup final (10,137 views) France wins 2018 World Cup Final (10,110 views)

 

SECTIONS NEWS (1,762) EDITORIAL (8) POLITICS (432) SOCIETY (112) SPORTS (22) BUSINESS (278) HEALTH (17) EDUCATION (25) ENTERTAINMENT (14) INTERNATIONAL (37) TECHNOLOGY (1) COLUMNISTS (0) LETTERS (0) OPINION (14)

 

 

Julius Agwu - Crazy Interview Demands