Neglect of agriculture cost Nigeria $10bn annually - World Bank Official - Premium Times Nigeria

’s Senior Agriculture Economist, Adetunji Oredipe, says Nigeria’s neglect of the agricultural sector has cost the country about $10 billion annually.

The event is a platform for private and public investors to discuss opportunities in Africa’s agricultural sector and harnessing the opportunities for development and wealth creation. “If Nigeria had held to its market shares in palm oil, cocoa, cotton and groundnut, it would be earning today at least $10billion per year from these commodities,” he said.

Also, Mr Oredipe said Nigeria was the largest exporter of palm oil in the world, accounting for 27 per cent of the global export volume for the commodity. The Vice President, Yemi Osinbajo, was represented at the event by the Minister of State for Agriculture and Rural Development, Mustapha Shehuri.Other dignitaries at the event include the Minister of Women Affairs, Paulen Talen; Governor of Kebbi State, Abubakar Bagudu; Chairman of Sterlin Bank Plc, Asue Ighodalo; and the Managing Director of Sterling Bank Plc, Abubakar Suleiman.

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