Agricultural sector makes huge contribution to GDP – President Buhari

Agricultural sector makes huge contribution to GDP – President Buhari

By Matthew Eloyi

President Muhammadu Buhari has said that the Agricultural sector is one of the critical non-oil sectors that have made significant contributions to the country’s Gross Domestic Product (GDP).

Buhari said this on Tuesday while declaring open the inauguration ceremony of the CBN’s Nigerian Brown Revolution in Kwall, Bassa Local Government Area of Plateau State.

Represented by Gov. Simon Lalong, the President said the intervention programme was aimed at enhancing food security, stability and boosting the wheat value chain under the Anchor Borrower Scheme.

In his words, “The Agricultural sector was one of the critical non-oil sectors which have made significant contributions to the GDP accounting for a 22.35 and 23.78 per cent.

“This is a contribution to the overall GDP in the first and second quarters of 2021 respectively.

“It was also instrumental in supporting the emergence of our economy from the recession in the second half of 2020, following the COVID-19 pandemic.

“Ensuring food security means ensuring availability and access across all demographics in the country.”

The president stressed that the inauguration was coming at a time 2021/2022 dry season farming was commencing which he described as significant.

Mr Buhari said food security could not be attained if farmers were not encouraged and adequately equipped with access to the best inputs and opportunities to learn effective agronomic practices for improved yield.

He added that as a country, Nigeria had relied on the proceeds of oil exports for so long with the volatility of oil prices and its implications on foreign reserves.

“There was no other choice but to work towards the diversification of the Nigerian economy by investing in other productive sectors of the economy,” he said

Agricultural sector makes huge contribution to GDP – President Buhari