Nigeria Transforming Agribusiness for Inclusive Recovery, Jobs Creation, and Poverty Reduction : Policy Reforms and Investment Priorities
Modern economic policy making in Nigeria has placed enormous emphasis on diversification of the economy to non-oil productive sectors. With the aim to restore economic growth following the 2015-16 recession and lay the foundations for long-term str...
| Main Authors: | , , , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/693311620697388713/Main-Report http://hdl.handle.net/10986/35589 |
| Summary: | Modern economic policy making in Nigeria
has placed enormous emphasis on diversification of the
economy to non-oil productive sectors. With the aim to
restore economic growth following the 2015-16 recession and
lay the foundations for long-term structural change, the
economic growth and recovery plan (ERGP) recognized the need
to diversify the economy to non-oil productive sectors such
as agriculture and agro-allied industries, in order to build
an economy that can generate inclusive growth and create
jobs. This report aims to improve understanding of the
potential of the agribusiness sector (primary agriculture
plus off-farm agribusiness) to accelerate inclusive recovery
from the 2020 recession, create jobs, and reduce poverty. A
key early finding of the report is that the agribusiness
sector is critical to accelerating inclusive recovery and
creating jobs. The report builds on this evidence to
identify the specific value chain groups that have most
potential to create jobs, reduce poverty, and improve
nutrition outcomes. Next, the report offers to highlight the
complex set of factors that mediate the performance of
agricultural value chains, distinguishing between issues
that pertain to upstream primary agriculture, those that
affect downstream off-farm agribusiness and cross-cutting
challenges. The agribusiness enabling environment takes
center stage in this part of the report, focusing on policy
reforms around seed regulations, fertilizers quality
control, warehouse receipts, and agricultural trade.
Finally, the report takes deep dives to identify reforms to
increase competitiveness in the value chains that were found
to have the most potential to create jobs, reduce poverty,
and improve nutrition outcomes. |
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