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Author(s): Okelola Olufemi Emmanuel, Adeyolanu Deborah T..

Volume/Issue: Volume 7 , Issue 4 (2024)

Abstract:

Nigeria's economy has long been heavily dependent on the agricultural sector, with agriculture playing a crucial role in providing food, generating employment, and contributing to the country's GDP. Over the past decade, there has been a growing focus on the development of agro-allied industries and agribusiness in Nigeria, as the government and private sector recognize the immense potential of this sector to drive economic growth and diversification. This abstract provides an overview of the current state of agro-allied industries and agribusiness in Nigeria. It examines the key subsectors, such as food processing, livestock production, and cash crop cultivation, and analyzes the challenges and opportunities facing the industry. The paper discusses the policy and regulatory environment, as well as the role of foreign direct investment and public-private partnerships in shaping the sector's development, impact of Agro Allied industries on the Nigerian economy and the Constraints/factors hindering the operations of agro-allied industries. The abstract highlights the significant contribution of agro-allied industries and agribusiness to Nigeria's GDP, employment, and exports, and underscores the sector's potential to enhance food security, promote rural development, and reduce poverty. It also explores the emerging trends and innovations, such as the adoption of technology, the rise of e-commerce, and the growing emphasis on value addition and sustainability. The findings in this abstract can inform policymakers, investors, and other stakeholders on the strategic importance of the agro-allied industries and agribusiness sector in Nigeria's economic transformation and diversification efforts.

Keywords:

Agro-allied, Industries, Nigeria, Agribusiness, Food Security.

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