Index Transforming Nigerias food business Nigerias economy has been maintained by oil exports, but with prices dropping, what gap in the market might boost GDP in future? The answer could be food... NIGERIA CAN NO LONGER RELY ON OIL TO FLOAT THE ECONOMY 34 million Barrels of unsold Nigerian crude oil due to a slide in global oil prices in 2018 NIGERIA IMPORTS A LOT OF FOOD $6bn a year Food import bill evolving farms 'Greatfarms'('BabbanGona') A franchise system that organises smallholders into cooperatives At the same time, NIGERIA’S POPULATION OF 170 MILLION IS GROWING FAST AGRICULTURE IS THE LARGEST SECTOR OF THE ECONOMY Nigeria's GDP by sector, 2013 (US$bn) 40% of Nigerians live below the official poverty line AGRICULTURE COULD BOOST NIGERIA’S ECONOMY, BUT THERE ARE CHALLENGES SOLUTION 1 Market to Lagos’ burgeoning middle class SOLUTION 2 Market Nigeria’s produce around the world SOLUTION 3 Feed the protein boom