15-05-2014 00:53 AM | Nigeria

In Nigeria, agriculture is 'the new oil'

When Nigeria announced recently that it had become Africa’s biggest economy, you could be forgiven for thinking that oil was the only reason. After all, Nigeria is the biggest oil producer in Africa. What many people didn’t realize was the growing role of agriculture in boosting Nigeria’s economy – and the lives of its large rural population.

I’ve seen close-up how hard it can be to succeed in agriculture – not only when I was president but also during the 35 years that I have been a farmer myself. So I’m proud that Nigeria is emerging as a leader in agricultural transformation in Africa.

However, Nigeria needs to spend much more on agriculture than its current commitment of only 1.6 per cent of the national budget.
Full Story : Forbes