![]() ![]() This increase shows that there is more participation in the sector, which can only grow further as the population expands and more Nigerians increase their knowledge of technology.Transport: In November 2022, Nigeria’s road transport sector, which accounts for 83.6% of the total sector expanded by 49.68% year-on-year, higher than the 21.11% recorded in the corresponding period of 2021. The Bank also disbursed N300 million to finance large-scale agricultural projects under the Commercial Agriculture Credit Scheme (CACS), bringing the cumulative disbursement to N745.31 billion.The cumulative disbursement under the ABP amounted to N1.07 trillion to over 4.6 million smallholder farmers cultivating 21 commodities across the country.In November 2022, Nairametrics also reported that between September and October 2022, under the Anchor Borrowers’ Programme (ABP), the Central Bank of Nigeria (CBN) disbursed N41.02 billion to several agricultural projects. Zainab Ahmed said the agricultural sector is important to the Federal Government and investments in the sector were aimed at increasing output in the entire value chain to meet the country’s demand for food, export, and employment. In June 2022, Nigeria’s finance minister, Dr. Nairametrics earlier reported that the Buhari administration has invested heavily in agriculture since 2015. Obi – Chukwu’s data presentation showing crop production at N40.6 trillion in 2022, trailing 12 months (TTM). This shows that Nigeria has recorded increased growth in its agricultural sector.According to him, there is a 172% rise between 20 in the agricultural sector – N610 billion in 2015 and N1.66 trillion in 2022. ![]() Obi-Chukwu looked at the differences in the sectoral distribution of credit between December 2015 and September 2022 in Nigeria’s industries. The power plants will be located across the country’s six geopolitical zones and will help provide clean and affordable electricity to over 30 million people.Īgriculture: Government intervention funds have also increased investments in Nigeria’s agricultural sector.
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