Agriculture will refloat Nigeria’s Economy, say CBN

By Kings UBA (Nigeria)


Nigeria’s Bureau of Statistics, a fortnight ago had released some figures, suggesting that the country, after a two-year experience, is out of recession. But the people still feel as if they are still in recession: the prices of food items are still high in the market and the people’s sources of income have remained unimproved.

The current administration of Muhammadu Buhari is leaving no stone unturned to ensure that Nigerians feel any positive impact of his administration. The government is encouraging the citizens, through tax incentives and small-scale loans, to go into Agriculture.

Stakeholders of the West African Country’s Central Bank (CBN) in their effort to point a way forward on economic diversification through agriculture have identified that agriculture presents the major opportunity of a long-term sustainable development in the country.

Godwin Emefiele, the CBN Governor, has been reported as saying that Agriculture is the only sector which shows the promise of getting Nigeria truly out of recession.

“With the current levels of unemployment in Nigeria, agriculture sector remained vital to the efforts of the Federal Government in diversifying the country’s monolithic economy away from oil”, observed Emefiele at the weekend in Abuja, during the stakeholders’ meeting on the operational framework for the Accelerated Agricultural Development Scheme (AADS) an initiative of President Muhammadu Buhari administration.

Editorial Chief, Nigerian Bureau

Kings UBA is a Nigerian journalist and writer. I have reported for major local and international news organisations. I write satire. In 2017, I started contributing stories primarily to Discover Africa News Network. I can be reached on I currently manage Discover Africa News social media handles