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Transforming Agribusiness in Nigeria for Inclusive Recovery, Jobs Creation, and Poverty Reduction : Policy Reforms and Investment Priorities (Inglés)

This book offers to advance understanding of the potential of the agribusiness sector (primary agriculture plus off-farm agribusinesses) to contribute to economic diversification in Nigeria. The book comes at a time when the country is recovering from the worst recession in four decades (World Bank 2020). The evidence presented here can inform policy reforms and help set investment priorities to accelerate inclusive recovery, create jobs, and reduce poverty. First, drawing on unique data from national accounts and supply-use tables, chapter two recalibrates national accounts to identify and estimate the size of various segments of the agribusiness sector, primary agriculture, input supply, agricultural processing, agricultural trading and transportation services, food services, and hotels. The enriched data enable the assessment of the performance of these agribusiness segments, individually and collectively, in generating growth, jobs, and labor productivity over the past decade (2009–18). This period was marked by prerecession volatility, recession, and post-recession recovery, similar in many ways to the current economic situation and the near-term challenges going forward. Performance in this period is quite instructive and provides useful evidence on the economic segments that can drive inclusive recovery from the 2020 recession. The main finding is that the agribusiness sector provides perhaps the best prospects to accelerate inclusive recovery and growth while generating more and better jobs. The remainder of this introductory chapter discusses the main reasons why diversification has preoccupied economic policy making, including the history of non-inclusive growth without jobs and its limited impact on the World Bank’s twin goals of poverty reduction and shared prosperity. The centrality of agriculture in the diversification agenda is founded on its inclusiveness and resilience, which is discussed briefly as a prelude to a more compelling analysis in the rest of the book. This introductory chapter ends by assessing progress on the agriculture targets in the most recent diversification policy, the ERGP 2017-20.

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