February 10, 2025
The Nigeria agricultural sector has maintained a positive business outlook in January 2025, despite slow growth as the Business Confidence Monitor Index declined in December 2024 from points from +13.93 to +10.85 points.
This was according to the recently released NESG-Stanbic IBTC Business Confidence Monitor for January 2025.
As monitored on Nairametrics, this moderation was driven by mixed performances across sub-sectors, resulting in gains in crop production and livestock offset by declines in agro-allied and forestry businesses.
The sector, has however, remained resilient, supported by a bumper harvest season and improved security conditions in key food-producing regions.
Dry-season farming activities has also helped to sustain the business momentum, ensuring continued food production during a typically low-activity period with the help of irrigation.
“The Agriculture sector maintained a positive business outlook in January 2025, though growth slowed as the NESG-Stanbic IBTC BCM Index declined to +10.85 points from +13.93 points in December 2024. This moderation was driven by mixed performances across sub-sectors, with gains in crop production and livestock offset by challenges in agro-allied and forestry businesses.
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Nonetheless, agricultural activities remained robust, supported by the ongoing bumper harvest season and improved security in key food producing regions. Additionally, dry-season farming contributed to sustained business activity in the sector by bolstering food production during a typically non-productive period,” the report noted.
The agricultural business sector-wide performance was mixed, reflecting both opportunities and constraints, according to the NESG-Stanbic IBTC Business Confidence Monitor for January 2025
Reports showed, Crop Production +16.96 points and Livestock +5.66 points with modest but positive growth, benefiting from seasonal demand and improved access to agricultural inputs.
Additionally fishing at +3.20 points, also showed positive sentiment, supported by steady demand and stable water conditions.
Agro-Allied had -9.17 points and Forestry -1.07 points showing declines, primarily due to rising input costs, reduced processing activity, and the typical year-end slowdown in these industries.
Despite these mixed results, agricultural enterprises remained cautiously optimistic, as government interventions and ongoing sectoral reforms continued to provide stability
