In the 1960s, Nigeria used to boast of some groundnut (peanuts) pyramids in Kano and its environs. Peanuts are widely consumed at the retail level and as an ingredient for livestock feeds. But recently, Nigeria has become a marginal player in the global production of peanuts accounting for only 5.14% of total global output.
With the new package of incentives for farmers and agriculture, coupled with efforts to diversify the economy from oil, we are likely to see rapid growth in groundnut production. Nigeria is likely to become a major player in this field like it used to be in the past.
The slides address these and other issues in the domestic and global commodity markets.
Enjoy your read!