Nigerian Economy: Investing in Resilience Focused on Agriculture

Abstract

Economic shocks do not only threaten people's lives but also their future livelihoods. To move ahead and address these shocks involve  understanding how different sectors of the economy can be improved upon sustainably to achieve economic prosperity. Investment in  agriculture provides a roadmap for creating a resilient Nigerian economy. A proper understanding of the uncertainties faced by the  Agricultural sector and effective strategies to manage these uncertainties is vital to creating a diversified and resilient Nigerian economy  for sustained growth and economic transformation. According to Jamais Cascio, “the goal of resilience is to thrive” (Instarinvest, 2021) Agriculture is part of the solution to thrive and an optimistic path to Nigeria’s resilience drive. This paper provides a careful analysis of  the challenges faced by Nigeria’s Agricultural sector and prioritizes investment solution to manage these challenges and position the  economy to be resilient. The paper provides policy recommendations covering extensive public-private financing, climate-responsive  agriculture, early warning system, improved seeds technology and check on government expenditures and debt profile, which will serve  as tools and mechanisms to assess, reduce, and manage economic shocks and the uncertainties in the Agricultural sector. Investing in  resilience focused on agriculture is an absolute prerequisite for a robust sector.