Agriculture Sector Contribution to GDP in Nigeria (1990-2022)

Agriculture Sector Contribution to GDP in Nigeria (1990-2022)

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TGM StatBox. (2024). Agriculture Sector Contribution to GDP in Nigeria (1990-2022). TGM StatBox.
Chart Details
Timeframe: 1990-2022
Country: Nigeria
Published date: 2024
Note: Agriculture (% of GDP), according to World Development Indicators, measures the contribution of the agricultural sector to a country's Gross Domestic Product (GDP). This metric reflects the economic significance of activities such as farming, forestry, and fishing, indicating the value generated by agriculture relative to the overall economy.
Key Takeaways
Nigeria’s agriculture sector contribution fluctuated from 21.6% in 1990, peaking at 37.0% in 2002, reflecting its role as a buffer during economic instability, particularly as oil prices fluctuated. The high point in 2002 may reflect a response to volatile oil revenue, which spurred renewed focus on agriculture for food security. In subsequent years, agriculture’s share declined as oil revenue stabilized, yet it remained above 20%, underscoring agriculture’s critical role in employment and subsistence.

The recent increase to 24.1% in 2020 likely reflects heightened food demand amid the COVID-19 pandemic and government initiatives to reduce food imports, solidifying agriculture’s role in ensuring food security in Nigeria’s economy.

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