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.
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.
For a deeper dive into the topic, explore Nigeria’s annual GDP, Nigeria’s net lending/borrowing (% of GDP), Nigeria's goods export value.
