Nigeria News – Updated clashes between farmers, herders reduce the productivity of the agricultural sector
Nigeria’s projected economic growth in 2018, according to the World Bank, will fall from 2.1 percent, which is estimated to be 1.9 percent in April.
On the official World Bank website in October 2018, Africa Pulse announced this biennial analysis of the condition of African countries, which was signed by Caesar Calderon and published yesterday in Washington, DC, USA.
He stated that the productivity of the agricultural sector was reduced by renewed clashes between farmers and shepherds, which were recorded in most parts of the year.
It stated: “In Nigeria, cuts in production and cuts in oil production in the agricultural sector partially offset the rebound in the services sector and the attenuation of non-oil growth, all of which influenced the economic recovery.
“Recovery in Nigeria happened in the first half of the year. Oil production has declined, due in part to pipeline closures.
“Agriculture has declined as the conflict over land between farmers and shepherds has led to a breakdown in crop production, partially offsetting a rebound in the services sector and exacerbating the growth of non-oil resources.
“In Nigeria, cuts in production and cuts in oil production in the agricultural sector partially offset the rebound in the services sector and the decay of non-oil growth, all of which affected the economic recovery.
“The external environment surrounding sub-Saharan Africa is more complex for several reasons. These include easing economic growth among major trading partners, strengthening the US dollar, increasing trade policy uncertainty and tightening global financial conditions.
“While the tension of oil supplies suggests that oil prices are likely to increase during the remainder of 2018 and until 2019, metal prices were softer than previously predicted and may remain suppressed in 2019 and 2020 in the face of muted demand, especially in China.
“Against this background, economic recovery in sub-Saharan Africa is expected to continue gradually, helped by a rebound in oil production in Nigeria and Angola, easing drought conditions that have led to a decrease in agricultural production and domestic demand .
“Inefficiency in how the region combines its factors of production is becoming increasingly relevant in explaining the lower aggregate productivity of sub-Saharan Africa compared with industrialized countries.”