Agriculture has been an integral part of the human society, the most persisting productive human engagement across times and space. Globally, about 5 billion hectares are classified as agricultural land (comprising native as well as cultivated pasture). Of this figure, 25 percent is accounted for by the industrialized countries, an amount that at the global scale, has only little scope for expansion. Conversely, South, East and Southeast Asia account for only about 20 percent of the global agricultural land, while Sub-Saharan Africa accounts for about 18 percent. Global agricultural population is also reported to stand at around 2.6 billion people. In Africa, particularly, no less than half of the continent’s labour force is employed under agriculture, all pointing to the significance of agriculture as a sector in the human productive business and general development. Sadly, despite its contribution to the continent’s development, agriculture in Africa suffers from a severe funding deficiency.
December 25, 2021
Facilitating Finance and Global Trade for Small and Marginal Farmers in Africa
Understanding The Ongoing Recession In Nigeria:A Synthesis Of The Events And Policy Options
In the second quarter of 2016, the Nigerian economy witnessed its first recession in twenty years due to the interplay of several external and internal factors. The recession has continued until date and has given rise to relentless unemployment rate and job losses, double digit and soaring inflation, currency depreciation and widening gap between parallel market and official exchange rates, amongst other adverse effect on individuals and firms in the country. Thus, there is a need to take a deeper look into the nature of the present recession as well as the impact of monetary and fiscal policy responses thus far, in order to shed light on the way forward towards tackling the recession and ensuring sustainable economic growth. This paper analyses the ongoing recession in the Nigerian economy to provide insights into the interplay of events and recommendations for policy.
Rising Inflation: Will The MPC Raise The Policy Rate Or Support Economic Growth
This brief examines global and domestic developments in Nigeria as well as the effect of slowdown in economic growth of key oil consuming nations on the Nigerian economy.