latest national accounts show that the agriculture sector grew by 3.4% y/y in
Q4 ’20, compared with 1.4% the previous quarter. This is its strongest growth
since Q4 ’17. Crop production accounted for 91% of agriculture GDP, and
expanded by 3.7 y/y. We also note that the forestry and livestock segments grew
by 1.2% y/y and 2.4% y/y respectively. Meanwhile, fisheries contracted by -3.6%
y/y in Q4. Over the past eight quarters, agriculture has grown by an average of
2.3% y/y. The sector accounts for c.27% of Nigeria’s total GDP and is regarded
as a leading job generator.