An economist and agro consultant, Mr. Sunday Peter, has called on the Federal Government to make agriculture a central pillar of its economic strategy, noting that the sector has the potential to significantly raise Nigeria’s Gross Domestic Product (GDP) and improve national development outcomes.
Speaking in Abuja during an interview with the News Agency of Nigeria (NAN), Peter reacted to the recently rebased GDP figures released by the National Bureau of Statistics (NBS), which showed a modest growth of 0.07 percent in the agricultural sector during the first quarter of 2025.
The latest GDP data indicated that Nigeria’s economy grew by 3.13 percent in real terms on a year-on-year basis in Q1 2025.
The growth was primarily driven by the services sector, which expanded by 4.33 percent and accounted for 57.50 percent of the GDP.
The industry sector also saw an increase of 3.42 percent, up from 2.35 percent in the corresponding quarter of 2024.
In contrast, the agricultural sector’s growth remained marginal, though it improved from a negative growth rate of -1.79 percent in Q1 2024 to 0.07 percent in Q1 2025.
Peter emphasized that while the service and industry sectors were performing well, the underperformance of agriculture revealed structural weaknesses in the economy.
He argued that agriculture remains the backbone of any productive economy and plays a critical role in supplying raw materials to the manufacturing and industrial sectors.
Peter criticized the lack of adequate attention given to agriculture, stating that this neglect has hindered economic progress.
He stressed that to truly develop the economy, the government must prioritize agriculture through inclusive grassroots policies.
According to him, engaging local stakeholders such as traditional rulers, local government chairmen, and councilors is essential to ensuring that agricultural programmes reach their intended beneficiaries—actual farmers on the ground.
He lamented the frequent diversion of agricultural funds by political officeholders, which undermines the effectiveness of development initiatives.
Peter recommended more transparent and localized implementation models to ensure accountability.
He also highlighted agriculture’s export potential, noting that countries like China import Nigerian cassava in large volumes.
He believes this is evidence of the untapped potential within the sector, which, if properly harnessed, could diversify the economy and reduce dependence on oil.
Peter further suggested that the government offer incentives to farmers, such as subsidized equipment, input supplies, and technical support services.
He also called for revival of real sector industries that rely on agricultural raw materials, arguing that reactivating these industries would create jobs and further boost the economy.
He concluded by emphasizing that Nigeria can only realize sustainable GDP growth and global economic relevance by strengthening its agricultural base.
The rebased GDP report, which used 2019 as the new base year, reflects a more updated methodology aligned with international statistical standards.
It provides a clearer picture of the economy’s current structure, reinforcing the urgent need to reposition agriculture as a cornerstone of national growth.
