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Yams led Nigeria's crop value in 2022 with $25 billion
In 2022, yams topped the list of over 44 agricultural products in Nigeria, with 61.2 million tonnes valued at $25 billion, making Nigeria the leading producer of yam globally. Cassava followed with $8.8 billion, and maize ranked third with $4.5 billion. These crops underscore Nigeria's agricultural strength.

Indonesia and Malaysia accounted for 84% of global palm oil production in 2021
Asian countries dominated the global palm oil market in 2021. Indonesia and Malaysia accounted for 67.8 million tonnes out of 80.7 million tonnes produced. Smaller producers like Nigeria (1.4 million tonnes) and Guatemala (0.8 million tonnes) had modest contributions.

Finance and Insurance sectors lead with 30% growth in H1 2024
While Agriculture and Telecommunications remain the largest contributors to Nigeria's GDP in H1 2024, the Finance & Insurance sector stands out with a 30% growth rate. Other sectors, including Water & Waste Management and Mining & Quarrying, also experienced significant growth.

Nigeria: Sectors that experienced the most growth in H1 2024
Nigeria's GDP in H1 2024 is driven by 22% from Agriculture, 19% from Information & Communication, and 16% from Trade, collectively accounting for 57% of the economy. Total GDP grew by 3.08% during this period.

42% of Nigeria’s agricultural households rear chickens
Chickens and goats are Nigeria's most-reared livestock. Per the National Bureau of Statistics' survey, of the estimated 40.2 million agricultural households in Nigeria, 41.5% rear chickens and 41.3% rear goats. These numbers show that a significant portion of Nigeria's agricultural households focus on these two animals. Here are the most-reared livestock in Nigeria's agricultural households.

91% of agricultural households in Nigeria engage in crop farming
Nigeria's agricultural landscape is diverse, with households engaging in various farming activities. Crop farming dominates, but livestock rearing and poultry farming are also significant. Each sector plays a crucial role in the economy, with crop farming driving food production and livestock providing protein.

Cote d'Ivoire's natural rubber production has experienced 656% growth since 2005
Between 2005 and 2022, Cote d'Ivoire's natural rubber production grew at an average of 12% yearly, maintaining its continental dominance. With an estimated population of nearly 29 million, the West African country produced 1.286 million tonnes in 2022, 73% of the continent's output, and placed fourth globally.
 
Meanwhile, Nigeria's production has grown 158% since 1961, peaking at 155 thousand tonnes in 1991.
Ghana's production has grown steadily, peaking at 117 thousand tonnes in 2022. Liberia and Cameroon complete the top five in Africa as of 2022.

Asian countries have dominated natural rubber production, with 90% of global output since 1990
Côte d'Ivoire emerged as the world's fourth-largest producer of natural rubber in 2022. Cote d'Ivoire, Nigeria, and Liberia are the only African countries in the top ten between 1990 and 2022.
Nigeria was among the top ten until 2010, but as of 2022, Côte d'Ivoire was the only African country in the top ten producers. 
Asian countries have historically led the world's natural rubber production, with the top seven countries — Thailand, Indonesia, Malaysia, India, Vietnam, China, and Philippines — producing 87% of the global output between 1990 and 2022.

Nigeria: The price of tomatoes has surged by 321% in one year, as have other food items
Food prices have continued to increase as Nigeria's headline inflation hit 34.19% in June 2024, one of the highest globally.
NBS's monthly survey for the average prices of selected food items in Nigeria as of June 2024 shows that tomatoes have gone up by 321%, yam by 296%, and staples — beans, rice, and plantain — have also seen significant increases. These are the top ten food items most hit by inflation in Nigeria in the past twelve months.

Cote d'Ivoire produced 73% of Africa's natural rubber production in 2022
Côte d'Ivoire has maintained its title of Africa's largest producer of natural rubber, increasing production by an average of 13% annually. Nigeria was Africa's largest producer of natural rubber in the early 90s until Côte d'Ivoire took the top spot in 1999. As of 2022, its production capacity was 8.6x more than Nigeria's. In 2022, Côte d'Ivoire produced 1.286 million tonnes of natural rubber; Nigeria and Ghana followed with 149.4 thousand tonnes and 117 thousand tonnes, respectively.

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