Outline the importance of agriculture in the economic development of Nigeria. – NABTEB QUESTION

The contribution of the agricultural sector towards economic development in Nigeria includes the follows:

(i) Source of food supply: Agriculture provides food for the ever increasing population in Nigeria.

(ii) Employment opportunities: The agricultural sector employs a large percentage of Nigerians.

(iii) Source of foreign exchange: Through the exports of agricultural raw materials, agriculture provides the much needed foreign exchange for industrialization.

(iv) Agriculture supplies raw materials to the Nigeria manufacturing sector.

(v) A source of government revenue: the government derives a lot of revenue from income taxes from farmers and revenue from export duties on
exported agricultural products.

(vi) The agricultural sector provides a ready market for the industrial sector thereby helping to facilitate industrialization in Nigeria.

(vii) Contribution to Gross Domestic Product: The agricultural sector contributes a substantial percentage to the Gross

(viii) Supply of labour to the industrial sector: The agricultural sector releases unskilled and semi skilled labour to the industrial sector.