INDUSTRY OVERVIEW

INDUSTRY OVERVIEW

INDUSTRY OVERVIEW

Overview

West Africa is one of the largest agricultural business hub in Africa, with a total geographical area of 6,140,000 km2, or approximately one-fifth of Africa. Its estimated population was 371 315 193 million people in 2016, and its population growth rate is 11% per annum. Nigeria, the largest agriculture business hub in West Africa, its economic statistics reveal annual economic growth rates that averaged over 7% in recent decades, making Nigeria one of the fastest growing economies in West Africa.

Agro Chemical: Agro chemical contributed 55% to the agricultural development in Nigeria and other West Africa countries. More than 125 million people is the estimated commercial farmers while about 55 million are in rural farming, managing assets of about 820 billion.

Agro Equipments: Now that commercial farming is practicing by Individual and Cooperate Bodies, the Agro equipments at all scales is now on high demanding. Presently, Farming mechanization application among farmers is on the rising, for 2017 farming season, more than 60% farmers used different farming tools and more than 80% are preparing to use different farming tools during post-farming season.

To aid agriculture development for adequate food production and export purpose, there is provision for policies and organized programmes by government departments. For Instance, Nigeria Ministry of Agriculture and Rural Development has organized programmes to regulate agro chemical and agro equipment uses for local farming and export markets. Besides the Ministry, there are other government department regulate the consumption of agro chemical products, such as National Agency of Food And Drug Control, (NAFDAC).  Apart from this, there are associations playing a major role in the development of Agriculture industry,such as: Association of Farmers of Nigeria, AFAN and others.

In view of this Nigeria displaying big potential in using of agro chemical and agro equipment than any other countries in West Africa. In order to facilitate for advance farming technology to support this current status, Nigeria and other West Africa countries need a productive platform for all stakeholders to share knowledge and display latest technology.