- Agricultural sector would always thrive no matter the economic situation.
- A market size of over 200m persons as well as 1.4b continental market further brightens the viability of the sector
- Agro-processing is key component of import subtitution, taking into account there are untapped opportunties in value addition.
- Exchange rate and other indices fluctuation enhance attractiveness of local processing as well as export to neigbouring nations esepcailly with coming into being of AfCFTA
Market Overview – Opportunities
- National Agric Technology & Innovation Plan NATIP 2022
- Post-COVID recovery, focuses on enhancing value addition
- Support for domestic processing
- Overcoming barriers
- Incentives for reduction of agric trade deficits
- 2023 – Deficit of N1.037 tr; imports stood at N2.281 tr & export N1.244 tr
- 2019-2023, exported agro goods worth N2.93 tr & imported processed products worth N8.19 tr
- Above further justify viability of investing in value addition locally
- The issues associated with forex has continued enhance patronage for
locally processed agro-products
- Katsina State is one of the leading agro-producing hubs cultivating
large volume of maize, millet, rice, sweet potato and host of others - It provides market hubs for trading of agro-commodities where
players within and outside the country converge - Growing demand for well-packaged and hygienically processed food
by both industrial and household customers