Agriculture is central to Nigeria''s economic development because?
Answer Details
Agriculture is central to Nigeria's economic development because it is the largest employer of labor in the country. Many Nigerians, particularly those in rural areas, are employed in various agricultural activities such as farming, fishing, and animal husbandry. These activities provide income for millions of households, reduce poverty, and promote economic growth.
Furthermore, agriculture accounts for a significant portion of Nigeria's Gross Domestic Product (GDP) and remains a major source of foreign exchange earnings for the country. Nigeria's comparative advantage in agriculture lies mainly in agro-allied industries, which are value-added activities that process agricultural products to create finished products such as textiles, food, and beverages. The export of these products earns Nigeria foreign exchange, which is essential for economic development.
Therefore, the development of agriculture is essential to Nigeria's economic growth because it provides employment opportunities, contributes significantly to GDP, and earns foreign exchange.