An Appraisal of Chinese Investment in Nigeria’s Agricultural Sector: 1999-2011
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Date
2015
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Department of Linguistics and Nigerian Languages, University of Ilorin, Ilorin
Abstract
The impact of agriculture on the economic development of a nation cannot be overemphasized. The period 1999-2011 witnessed an exponential growth in China-Nigeria relations, with particular reference to the agricultural sector. This paper examines Chinese investments in Nigeria’s agricultural sector from 1999-2011. This was done not only for the purpose of bringing to limelight the nature and substance of Chinese investment in Nigeria’s agricultural sector, but also to examine the challenges facing Nigeria’s agricultural sector. Secondary sources were used in carrying out this work. Findings from this paper shows that, from 1999 the Chinese investors began making forays into Nigeria’s agricultural sector. However despite the value of Chinese investments in Nigeria’s agricultural sector from 1999-2011, the sector performed below expectation and this was as a result of the Nigerian governments’ neglect of the agricultural sector and over dependence on petroleum oil as its major of source of foreign exchange. This paper therefore recommends that, the Nigerian government should invest more in the agricultural sector so as to make it attractive to the Chinese investors and other foreign investors. Also, the Nigerian government should learn from Chinese agricultural development strategies, so that the sector can be utilized as a tool for sustainable economic development in the country.
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Keywords
Appraisal, Chinese,, Investment, Nigeria, Agricultural Sector