In STRATEGICA 2018 - Challenging the Status Quo in Management and Economics, volume International Academic Conference - Sixth Edition - Bucharest, Romania, October 11 - 12, 2018, pages 1330–1344. SNSPA , Faculty of Management, Bucharest, 2018. ISSN 2392–702XPaper abstract bibtex
The following paper was prepared as the result of the cooperation and development programs that have been run by the authors and Joseph Ayo Babalola University and is the voice in discussion to encourage Nigerian Government to develop strong and effective agriculture sector. Modern-day Nigeria has emerged as Africa's largest economy, with 2014 GDP at over 568 billon USD (The World Bank, 2016). Thanks to the largest population in Africa and the strongest economy Nigeria is often referred to as the "Giant of Africa". Although oil has been playing the mayor role in the structure of Nigeria’s GDP the economic growth for over the last five years has been driven by growth in agriculture, telecommunications, and services. Economic growth and stability makes Nigeria according to PwC “one of the potential power economies of the world” (PwC 2016), but one the country is still facing several challenges economic, social and environmental. The biggest challenge is that according to the The World Factbook strong economic growth have not translated into a significant decline in poverty levels (Central Intelligence Agency, 2016). The government and President has announced plans to increase transparency, diversify the economy away from oil, improve fiscal management and working to develop stronger public-private partnerships for roads, agriculture, and power. That actions and activities are very positive, but because of significant differences between for example Europe, North America and Africa they should be designed specifically for Nigeria. The actions and activities should be strategically planed and follow latest developments of management and technological revolution like sustainability, knowledge sharing, Internet of things. The paper presents the challenges and possible scenario for Nigerian agriculture, one of the most dynamic and important sector for Nigerian economy, that produces not only economic output but could be nowadays fundament for welfare society supporting it with food, jobs and place to live.