Strategy: Nigeria is boosting its seed industry with 158 new firms

The country accounts for over 60% of seeds traded and used in West Africa and some parts of East and Central Africa.

Nigeria government has liberalised its seed industry by licencing 158 new firms to produce quality products and boost agricultural production in the country.

Among the 158 new seed entrepreneurs, 10 were foreign firm while the remaining 148 were local firms.

Philip Ojo, the Director-General, National Agricultural Seed Council (NASC), said the new approvals added to the 156 existing licences.  

Why more seed firms in Nigeria?

Nigeria is working to have more players in the seed industry to produce and distribute quality seeds to farmers.

With the addition, Nigeria now boasts of 314 seed entrepreneurs, 223 produce sellers and 20 seed dealers.

The country accounts for over 60% of seeds traded and used in West Africa and some parts of East and Central Africa, according to the National Agricultural Seeds Council.

Despite this, Africa's largest economy is yet to fully recover from its 2016 economic woes. In the second quarter of 2018, grew 1.5% in the second quarter of 2018, a downturn from 1.95% growth recorded in the first quarter and  2.11% year-on-year in the fourth quarter of 2017.

Yemi Kale, the statistician-general of the federation and director general of the NBS had said there is no major significant surprise in the second quarter report.

The country is still battling with the farmers-herdsmen clash, a bigger part of the nation's GDP.

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