World Bank’s Senior Agriculture Economist, Dr Adetunji Oredipe, on Thursday warned of the looming danger ahead of Nigeria while delivering a keynote address at the Agriculture Summit Africa in Abuja.
Painting the gloomy picture of the country’s agricultural sector, the World Bank Agricultural Economist regretted Nigeria is now one of the largest food importers in the world. He noted: “None of the above transactions is fiscally, economically, or politically sustainable. Nigeria is tragically is living on borrowed times, a typical case of robbing Paul to pay Peter.
He said, “In the 1960s we had glory. That glory was visible and significant for the global community to recognise and applaud. Nigeria accounted for 42 percent of the world’s exports of shelled groundnuts. Our total export volume was 502, 000 MT. “Malaysia and Indonesia took over using the oil palm seedlings obtained from Nigeria. In 2018, Malaysia earned $8.7billion, 28.6 percent of total palm oil exports from export of palm oil alone.
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