Nathan London reviewed the performance of Nigeria?s agriculture sector review for the Country Economic Memorandum (CEM) sponsored by the World Bank and DFID. The purpose of the CEM was to explain trends in growth, competitiveness, and productivity and to present policy options for improving performance, with particular reference to the non-oil portion of the economy, especially agriculture and agribusiness.
- An overview of sector structure (i.e., size, contribution to GDP, composition, linkages among subsectors, linkages to rest of the economy and the global economy).
- Detailed analysis of sector performance (i.e., output, domestic and foreign direct investment, export-import trends, employment, structural changes, domestic and foreign markets, supply chains).
- An assessment of the impact of macroeconomic policies, including exchange rate management, on sector development
A review of government policies and activities for sector development (e.g., Presidential initiatives for products and commodities, international trade and the structure of protection, public investment in the sector and infrastructure services, incentives for encouraging private investment)?as well as the coherence of all such measures.
- A review of challenges facing policymakers.
Our review concluded with broad recommendations for development of a strategic framework for raising productivity and achieving rapid, yet sustainable growth in the agriculture and agribusiness sector.