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Nigeria's Agricultural Sector Increases By Three Percent

Ben Akabueze, Director-General, Budget Office of the Federation,  relates that the agricultural sector of the Nigerian economy increased by three percent regardless of the economic recession.

While speaking at the Maiden Edition of Deloitte in Dialogue, tagged: Nigeria Economic Outlook 2018, Akabueze revealed this information when he talked about  many opportunities present in the 2018 budget for private sectors.
He noted that this 2018 budget envisages the development of value chain across 30 different commodities, including marketing, transportation, trading, and exploit among others.

 “The agricultural sector is one of the industries that the government is focusing on and it has seen some reasonable growth. Despite the biting recession, Agricultural sector recorded over three percent growth,” says Akabueze when disclosing  government plans in trying to boost the agricultural sector.

Akabueze called on the government for improvement of roads across the federation, stating that this would also help boost the country's economy.
“You will not believe the impact of transportation in the economy. The sector is part of what has been holding up the inflation rate. Transportation cost is a significant driver of food cost, which is the reason for the inflation that we have. If we raise some investments in transportation the inflation around food will be lower.

“We expect that the budget will stimulate investment in some critical sectors, and we hope that the private investors will leverage on the opportunities that the 2018 budget present,” Akabueze stated.