The data of the government saw that the sector witnessed its biggest growth since first quarter of 2023; only in the third quarter of 2023 did the sector record N14.7trillion Gross Domestic Prices value.
The National Bureau of Statistics (NBS) report has noted that the crop production sector is witnessing increase in terms of nominal value.
The assertion was given in its most recent Gross Domestic Product (GDP) report.
According to the document, the sector witnessed growth up to N16.4trillion in the third quarter of 2024, up from the N9.8trillion recorded in the second quarter of 2024.
The data of the government saw that the sector witnessed its biggest growth since first quarter of 2023; only in the third quarter of 2023 did the sector record N14.7trillion Gross Domestic Prices value.
Interestingly, the data released by the government on the growth of crop production sector, comes amid growth in the food inflation rate of the country.
As of October 2024, the food inflation rate of the country stood at 39.16%.
This represented an increase from the 37.7% recorded in September 2024.
Nigerians have continued to lament the rising price of food that have made it impossible for them to survive.
Already, over thirty-one million Nigerians have been said to suffer from acute food insecurity.
Many Nigerians are also said to be unable to afford healthy diet with the soaring food prices in the country.
A healthy meal is said to cost N1346 per meal as of September 2024.