Why Nigeria Agritech Space
Nigeria is the largest agriculture business hub in West Africa, its economic statistics reveal annual economic growth rates that averaged over 7% in recent decades, making Nigeria one of the fastest growing economies in West Africa. Agro inputs contributed 75% to the agricultural development in Nigeria and other West Africa countries. More than 25 million people is the estimated commercial farmers while about 55 million are in rural farming, both are managing assets of about 320 billion USD.
NIGERIAN AGRI PRODUCE IN NUMBERS
Nigeria is Africa’s largest producer of
maize with annual production of 12mmt.
Worlds largest producer of Cassava
with production of 59.2 mmt.
5th largest palm oil producer globally
with 1.4 mmt annual production.
Africa’s largest producer of rice with
5mmt annually and is among the top
15 producers globally.
Nigeria produces 7mmt of Sorghum
and it's the second only to the USA.
Nigeria is the worlds largest producer of
Yam with annual production of 50mmt.
4th largest coco bean producer
in the world at 3.28 lakh mt.