Presentation Title

Prospects and Challenges of Growing Nigerian Economy through Agricultural Exports

Presenter Information

Ijeoma OgundiwinFollow

Presenter Status

Department of Business Administration and Marketing Babcock University, Ilishan-Remo, Ogun State, Nigeria.

Presentation Type

Oral Presentation

Presentation Abstract

Prospects and Challenges of Growing Nigerian Economy through Agricultural Exports

By

Ijeoma Jacklin Ogundiwin

Department of Business Administration and Marketing

Babcock University, Ilishan-Remo, Ogun State, Nigeria.

ogundiwini@babcock.edu.ng OR jacklinadiele@yahoo.co.uk

Nigeria’s economy has been recessing acutely since 2015 even though there were signs of recession some years before now. The recession may be accounted for by two major factors: monolithic oil-economy with petro-dollar determining the accruable revenues to Nigeria, and subsisting domestic political corruption, which deprives citizens the benefits from oil royalty. The paper examines the prospects of agricultural sector and economic growth – vast arable land, abundant aquatic resources and animal husbandry, young and growing rural population, on the one hand, and the challenges facing agricultural sector in Nigeria – mechanization, technology, illiteracy, land ownership and government’s weak commitment to its development, on the other. The paper holds that if government takes care of these challenges, the teaming unemployed population will be incentivized to embrace agriculture and thus, Nigeria’s foreign earnings will increase and its economy will grow.

Key words: agriculture, prospects, challenges, economic growth, population, government.

Biographical Sketch

Ijeoma Jacklin Ogundiwin, is an Assistant Lecturer in the Department of Business Administration and Marketing, Babcock University, Ilishan-Remo, Ogun State, Nigeria, where she is also a doctoral student. Her research interest is International Buisness.

Acknowledgements

God, Aaron and Nireti Ogundiwin.

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Prospects and Challenges of Growing Nigerian Economy through Agricultural Exports

Prospects and Challenges of Growing Nigerian Economy through Agricultural Exports

By

Ijeoma Jacklin Ogundiwin

Department of Business Administration and Marketing

Babcock University, Ilishan-Remo, Ogun State, Nigeria.

ogundiwini@babcock.edu.ng OR jacklinadiele@yahoo.co.uk

Nigeria’s economy has been recessing acutely since 2015 even though there were signs of recession some years before now. The recession may be accounted for by two major factors: monolithic oil-economy with petro-dollar determining the accruable revenues to Nigeria, and subsisting domestic political corruption, which deprives citizens the benefits from oil royalty. The paper examines the prospects of agricultural sector and economic growth – vast arable land, abundant aquatic resources and animal husbandry, young and growing rural population, on the one hand, and the challenges facing agricultural sector in Nigeria – mechanization, technology, illiteracy, land ownership and government’s weak commitment to its development, on the other. The paper holds that if government takes care of these challenges, the teaming unemployed population will be incentivized to embrace agriculture and thus, Nigeria’s foreign earnings will increase and its economy will grow.

Key words: agriculture, prospects, challenges, economic growth, population, government.