Nigerian agriculture is characterized by considerable regional and crop diversity. Analysis of this sector, particularly the food sub-sector, is fraught with serious data problems. However, the available statistics provide a broad overview of development in agriculture upon which we can make some broad generalizations about its role in economic development and structural change in Nigeria.
In the 1960s, the agricultural sector was the most important in terms of contributions to domestic production, employment and foreign exchange earnings. The situation remained almost the same three decades later with the exception that it is no longer the principal foreign exchange earner, a role now being played by oil.
The sector remained stagnant during the oil boom decade of the 1970s, and this accounted largely for the declining share of its contributions. The trend in the share of agriculture in the GDP shows a substantial variation and long-term decline from 60% in the early 1960s through 48.8% in the 1970s and 22.2% in the 1980s. Unstable and often inappropriate economic policies (of pricing, trade and exchange rate), the relative neglect of the sector and the negative impact of oil boom were also important factors responsible for the decline in its contributions.
On its diversity, Nigerian agriculture features tree and food crops, forestry, livestock and fisheries. In 1993 at 1984 constant factor cost, crops (the major source of food) accounted for about 30% of the Gross Domestic Products (GDP), livestock about 5%, forestry and wildlife about 1.3% and fisheries accounted 1.2%.
One of the food crops grown in Nigeria is cowpea. Cowpea is an important source of protein in both urban and rural Nigeria; not surprising, therefore, is also the fact that Nigeria is also the largest producer and consumer of cowpea in all of Africa. More than 8 million hectares of cowpea are grown in West and Central Africa and Foraminifera Market Research seeks to expose the investment opportunity in the supply of the product to local industries in Nigeria through feasibility report.
As one of the major staple food in Nigeria, cowpeas play a key role in the agriculture and food supply of Nigeria. The major consumption center for cowpeas is the densely populated area of southern Nigeria where they are increasingly been processed and used in the production of bean flour.
The scenario above presents an opportunity for savvy investor to take advantage of by purchasing the product from up North and supplying same to industries in the south.
The return on investment on the trading of cowpea (beans) is estimated between 10%- 15%.
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At Foraminifera Market Research (www.foramfera.com), we provide bespoke and up to date market research reports. Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
You can order our detailed feasibility report on cowpea supply to local industries in Nigeria by clicking on the link below.
HOW TO MAKE HUGE PROFIT SUPPLYING COWPEA {BEANS} TO LOCAL INDUSTRIES IN NIGERIA.
COWPEA {BEANS} FLOUR PRODUCTION IN NIGERIA, THE FEASIBILITY REPORT.
GALLSTONE EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
GUM ARABIC EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
HARDWOOD CHARCOAL EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
COCOA BEANS TRADING AND EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
HIBISCUS FLOWER EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
HOW TO MAKE HUGE PROFIT SUPPLYING COWPEA {BEANS} TO LOCAL INDUSTRIES IN NIGERIA.
COLUMBITE EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
RAW CASHEW NUTS EXPORT IN NIGERIA
RAW CASHEW SUPPLY TO LOCAL INDUSTRY IN NIGERIA
GROUND NUTS EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
DRY SPLIT GINGER EXPORT IN NIGERIA; THE FEASIBILITY REPORT.
Access our other Market Research Reports or investment opportunities in Nigeria by clicking on the link below
– MARKET RESEARCH REPORTS IN NIGERIA
– INVESTMENT OPPORTUNITIES IN NIGERIA
Do you require a business plan or feasibility report on the subject matter? Contact us with any of the details provided below to arrange a meeting
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