Business

Food security: Only 0.50% of foreign investment went to agriculture in 2023 

The Nigerian agricultural sector recorded a meagre $19.91 million in foreign investment for the year 2023 representing just 0.50% of total foreign capital import during the period.


This is coming amidst soaring food inflation and complaints of food shortages being experienced across the country.  


On a year-on-year comparison, foreign investment in the agricultural sector dropped from $95.80 million recorded in 2022 to its current figure. This represents a decline of 79.2% over one year.