LCCI Insists Agriculture is Nigeria’s Path to Growth Beyond Crude Oil

News in brief:

-The Lagos Chamber of Commerce and Industry (LCCI) stresses that agriculture, not oil, is Nigeria’s most strategic path to economic growth, food security, and job creation, urging investment in modern, technology-driven farming.

-Experts highlight the need to rebrand farming as an attractive career for young Nigerians, while adopting innovations like climate-smart agriculture, precision farming, and agritech to meet future challenges.

For decades, crude oil has been Nigeria’s main source of wealth, accounting for over 80% of exports. But the Lagos Chamber of Commerce and Industry (LCCI) warns that the future lies elsewhere. At its 2025 Agriculture and Allied Group Symposium in Lagos, the chamber argued that farming, not petroleum, offers Nigeria the best path to real economic growth, job creation, and poverty reduction.

“Farming can’t just be about survival anymore,” said LCCI President Gabriel Idahosa, represented by Vice-President Abimbola Olashore. “It has to become modern, profitable, and globally competitive.”

Why It Matters Now

Globally, agriculture has moved far beyond the hoe-and-cutlass image many Nigerians still hold. Farms now use drones, sensors, apps, and even blockchain to track produce from field to market. In countries like Kenya, India, and Brazil, young entrepreneurs approach agriculture like tech startups,; and investors are paying attention.

Nigeria cannot afford to ignore this shift. With the population projected to reach 400 million by 2050, the country still spends billions of naira on food imports each year. Farming already contributes over a quarter of GDP and employs about a third of the workforce, yet the gap between potential and reality remains wide.

“This contradiction should worry us,” said Idahosa. “The good news is that a new wave of agribusinesses is proving farming can be innovative and profitable.”

Facing the Tough Realities

Of course, Nigeria’s farmers don’t operate in a vacuum. Floods ruin rice fields in the north, droughts shrink maize and cassava harvests in the south, and the weather has grown more unpredictable. Climate change is no longer a theory; it’s a lived experience for people working the land.

But technology is beginning to soften the blows. Climate-smart practices like better seeds, water conservation, and smarter soil use are taking root. Apps now connect small farmers directly to markets, cutting out middlemen. And precision tools help reduce waste while raising yields.

“These things aren’t luxuries,” Idahosa said. “They’re survival tools.”

Making Farming Attractive Again

Still, the battle isn’t just about improving production. It is about perception. Many young Nigerians don’t see farming as a career worth chasing. Tunde Banjoko, who chairs the LCCI Agric and Allied Group, argued that agriculture needs a full rebrand.

“As the President himself said recently, agriculture should be sexy,” Banjoko remarked, half-joking but serious in tone. “People should be proud to call themselves farmers. You can build your dreams in this field too.”

He pointed out that in countries where farming is modernised, it’s taught as a discipline of innovation, not just subsistence. “You can run a farm with machines, software, and systems. You don’t need to look dirty or be looked down upon.”

The Way Forward

The consensus at the symposium was clear: agriculture could still be Nigeria’s strongest path to stability and inclusive growth. But it won’t happen without policy support, better infrastructure, financing for farmers, and stronger market linkages.

For farmers themselves, the opportunity lies in embracing change: trying out new technologies, processing raw crops into finished products, and shifting from subsistence farming to agribusiness.

“Agriculture is not optional for Nigeria,” Idahosa concluded. “It’s both a food security priority and an economic lifeline. The time to act is now.”