Agric Funding Hits N3.8trn as Nigeria Battles Production, Import Gaps
Fidelis David in Akure Despite a sharp rise in financing to Nigeria’s agricultural sector, the country is yet to fully translate the growing capital inflow into increased productive capacity, a
Nigeria's agricultural sector has seen a significant surge in financing, with bank credit increasing from N1.46 trillion to N3.81 trillion between 2021 and 2026, according to a report by Regius Capital Limited. However, despite this influx of capital, the country has not fully translated the growing funding into increased productive capacity, as the report highlights the disparity between the rising agricultural GDP and the annual household food bill.
The report also reveals a paradox in Nigeria's agricultural trade, with the country recording both significant exports and imports, indicating persistent gaps in domestic production and processing capacity.
Brief written by urgent.news from This Day's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
