Nigeria's transformation into a major oil producer in the late 1960s overwhelmed its status as one of the most promising agricultural producers in the world. Between 1960 and 1969, net exports of agricultural products constituted 6 to 7 percent of Nigeria's GDP and the country was able to feed itself.
But as the country began to depend on oil to drive growth and development, Nigeria's status as an agricultural powerhouse steeply declined, and by 1975 it became a net importer of agricultural products. In 2013, Nigeria's agricultural net imports reached $3 billion, according to a World Bank estimate, with the largest imports, by value, including wheat, sugar, rice, and fish.
And, yet, Nigeria's agricultural story need not be finished. It has abundant resources to support a more substantial agricultural economy: large areas of arable land, two of Africa’s largest rivers, and a large, youthful workforce. As former President of Nigeria Obasanjo wrote in Forbes last year, agriculture could become the new oil for Nigeria, providing long-term sustainable growth in the new world of low energy prices.
In this series, Knoema presents data and visuals on Nigeria's agricultural sector, land use, and water resources as well as the crowdsourced retail food prices, collected by contributors of our MarketTap program.
Sources: World Development Indicators (WDI), November 2015; FAO Value of Agricultural production, February 2015; FAO AQUASTAT, 2015; OECD-FAO Agricultural Outlook 2015-2024; FAO Food Balance Sheets, 2015; Socio-Economic Data, Nigeria 2014; Agriculture Sector of Nigeria, 2012; Regional Geographic Data of Nigeria, 2010; Food Prices
It's a one pager PDF full of live links to agriculture-related data, statistics, and dashboards from leading industry sources. It will be a useful resource for any analyst, business executive, or researcher with an interest in the food security and prices, agricultural production and supply and much more.
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Success in any industry resonates differently depending on whether you are producer, consumer, or somewhere in the middle along the production chain as well as your relative position in the market. By some measures, the current yield and market supply of corn and soy can be considered a success. Producers in every region of the world have progressively increased the yields for maize and soy since 1963, with the highest yield per hectre in 2013 for both commodities being in the Americas and lowest in Africa.In 2013, the United States and Brazil were the world's largest producers of soy, with a commanding 62 percent total combined share...
Agricultural products covers the following commodity categories:Food and live animals: Live animals other than animals of division 03Meat and meat preparationsDairy products and birds' eggsFish, crustaceans, molluscs and preparations thereofCereals and cereal preparationsVegetables and fruitsSugar, sugar preparations and honeyCoffee, tea, cocoa, spices, and manufactures thereofFeedstuff for animals (excluding unmilled cereals)Miscellaneous edible products and preparations Source: United Nations Conference on Trade and Development, Merchandise trade matrix, exports and imports, annual, 1995-2015.
Food is a basic human need. And we tried to estimate how much do people pay for food in different countries. It appeared that food availability significantly varies across countries. In general, price of 1000 Kcal goes up inline with per capita income. For example, in Greece, Belarus, Croatia, Japan and Macedonia people pay $2.8 (based on PPP) for 1000 Kcal. At the same time in Nigeria, Uzbekistan, China India and Kenya the price of 1000 kcal is less then $0.7. It is interesting, that the U.S. citizens pay for food noticably less compared to other developed and many developing countries.