Sustainability and Agribusiness Development in Nigeria

Abstract

Sustainable development refers to the development that meets the needs of the present, without compromising the ability of future generations to meet their own needs. For an agribusiness to be sustainable it must produce food with regard not only to the environment (to ensure production can continue on an indefinite basis) but also to generating sufficient production to meet the demand and producing an adequate return for farmers to support the standard of living they and their next generations require. It was on this background that the study assessed the sustainability and agribusiness development in Nigeria. The study adopted secondary data as sources of information. Relevant literatures on sustainability and agribusiness development were elicited from various impact journals and critically reviewed. The study viewed agribusiness as generic term for the various businesses involved in the food production chain, including farming (both subsistence and mechanized farming), seed supply, manure, fertilizers and agri-chemicals, farm machinery, distribution, wholesale and retail sales, processing, research and development, marketing and financing of the agro-allied industry.  Findings provided evidence of agribusiness been a key enablers for sustainable development of developing countries like Nigeria, this is because of its crosscutting nature thus affecting all sectors of the nation’s economy ranging from socio-economics, agriculture, commerce, marketing, industrials, environment, among others. The study provided an evidence that sustainable agribusiness is capable of providing aggregate employment, reducing poverty, ensuring and food security. Regretably, poor policy articulation, inadequate working capital, lack of appropriate technology and inadequate infrastructure are the bane of sustainable agribusiness development in Nigeria. However, it was recommended that the government at all levels should as a matter of urgency intensify awareness about sustainable agribusiness development build agribusiness skills and technological capabilities among firms and her citizen as this would enhance the nation’s annual Gross Domestic Product (GDP) positively.

Keywords: Sustainable development; Agribusiness; Constraints; Nigeria