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Why Investors Are Avoiding Agriculture

Farming is regarded as one of the best invest options in advanced countries, it is not so, in nigeria as more and more investors are running sway,.despite the rise in the costs of foodstuff. Who will save the Nigeria agriculture, as its gasping for breath with investments dropping by 41% in just one year. This decline is largely attributed to insecurity issues, such as banditry attacks, kidnappings, and clashes between herders and farmers, which have forced many farmers to abandon their farmlands. As a result, the sector’s contribution to total capital importation has shrunk to 0.23%.

The situation is further complicated by the country’s economic challenges, including the removal of fuel subsidies and the devaluation of the naira, which have led to skyrocketing food prices and increased hunger among Nigerians. The prices of staple foods like rice, beans, and eggs have risen significantly, making it difficult for many households to access nutritious food.

Key Factors Contributing to Nigeria’s Agricultural Decline:

  • Insecurity: Banditry attacks, kidnappings, and clashes between herders and farmers have disrupted agricultural activities.
  • Economic Challenges: Removal of fuel subsidies and devaluation of the naira have led to increased food prices and hunger.
  • Lack of Investment: Foreign direct investment in the agricultural sector has declined significantly.

To address these challenges, experts recommend that the government prioritize insecurity, implement policies to stabilize the economy, and attract foreign investment to boost agricultural production.

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