Nigeria’s agricultural sector remains resilient in the face of COVID-19 crisis

Nigeria's agricultural sector has proven to be resilient in the face of challenges, recording a growth of 1.39% in the third quarter of the year, according to the latest data by the National Bureau of Statistics. Kola Masha, Managing Director of Babban Gona, highlighted the sector's performance and potential for growth in a recent interview with CNBC Africa. Masha commended the agricultural sector for its consistent contribution to Nigeria's economy, noting its significant growth from 21% to nearly 30% of the GDP in the past two years. He acknowledged that while the sector faced challenges, including lower-than-normal growth rates due to the impact of COVID-19 and supply side constraints such as border closures and security issues, agriculture remained one of the highest growing sectors in the economy. Despite the obstacles, Masha expressed optimism about the sector's outlook, emphasizing its untapped growth potential in terms of productivity and available arable land. He highlighted the need to provide smallholder farmers with access to financial support and resources to enhance productivity and drive sectoral growth. The agricultural sector's resilience and growth potential signal opportunities for Nigeria's economy, but concerted efforts are required to address existing challenges and unlock the sector's full potential.