"Nigeria Agribusiness Report Q2 2014" is now available at Fast Market Research

Cocoa continues to be the segment with the most potential for growth over the short and medium term in Nigeria. We hold a bullish view on prices, and government and private sector investment is helping Nigeria to gain some ground on struggling competitors Ghana and Côte d'Ivoire. While we doubt that the dairy industry will develop at the speed envisioned by the government's production target of 1.1mn tonnes by 2015, we do see steady growth resulting from increased public and private investment spurred on by buoyant demand. Corn production has been hampered by a lack of available seed - a spillover effect of 2012's flooding - although increased credit and investment will very likely see the green shoots of recovery springing up for the next harvest. The poultry sector is highly dependent on corn as a feed grain and will see growth return in the latter part of 2014 as corn production recovers. Security continues to be an issue as the government's counterinsurgency against Boko Haram drags on. This is an important factor in the low growth rates we are forecasting for wheat, as the grain is grown mainly in northern states where the rebels have their strongholds.

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