ANALYSIS OF THE PROPOSED 2016 BUDGET FOR AGRICULTURE - The National Association of Nigerian Traders NANTS

The year 2016 has become one of the most critical moments of economic turbulence ever in the history of Nigeria, and the agriculture sector which contributes about 22% of the country’s Gross Domestic Product (GDP) (after the rebasing of the economy) is therefore seen by many as the strongest sector and potential instrument for stability and sustainability. 

It is generally deemed as the most equipped for the nation’s required diversification of the economy, import substitution, employment generation (especially among women and youths), poverty reduction and sustainable development. The foregoing was corroborated and highlighted by President Muhammadu Buhari’s speech while presenting the 2016 budget to the Parliamentarians at the National Assembly.