Increasing the Value of Agricultural Products in the Face of Global Economic Recessions: Anambra Experience

Abstract

The Paper examined the increasing value of agricultural products in the face of global economic recession in Anambra State. The paper revealed that Anambra State is endowed with human and natural resources and if properly harnessed, can go a long way in arresting the food insecurity in the State and alleviate the poverty level of the poor masses. The study showed that yam, cassava, livestock and rice are the most common products produced in almost all the Local Government Area of the State. Although Anambra State is highly urbanized, its forest reserve covered 31897 hectares of land and the vast primary products can be transformed into secondary products, given the available and affordable technologies required. The paper revealed that in addition to N 150 million naira disbursed in 2007 and 2008 at an interest rate of 8.0%, the State Government has completed plans to disburse another N3.0 billion naira to small-scale businesses including farmers to boost their agricultural potentials. It was concluded that yield increasing technologies such as tractors, improved varieties of seeds, seedlings, livestock, agrochemicals and agro-machines should be highly subsidized by the state government to enable the resource poor farmers meet up with the yawning demands of improved products.