AREC Consulting LTD.

AREC Consulting LTD. Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from AREC Consulting LTD., Consulting Agency, No 7 Adigun Street, Ogo Oluwa Osogbo, Osogbo.

We Specialise in Data Science & Analytics; Environmental Research; Geospatial Technologies; Journal Article Publications; Market/Industry Research; Social Research; Urban Research; and Urban Science & Planning

We compare the contribution of Nigeria's agriculture industry to GDP with the global average for the period of 2016 to 2...
26/08/2026

We compare the contribution of Nigeria's agriculture industry to GDP with the global average for the period of 2016 to 2025, using the World Bank Data.

Our analysis reveals that Nigeria’s agricultural sector has consistently contributed a considerably larger share of GDP than the global average over the 2016–2025 period.

In 2016, Nigeria's GDP share increased from 20.98% to 21.20% in 2018. However, it rose sharply to 25.74% in 2019 and reached a decade high of 29.39% in 2021.

Subsequently, agriculture’s GDP contribution moderated, declining to 22.98% in 2025.

In spite of this fall, Nigeria remained well above the global average, which stayed relatively stable between 3.92% and 4.38% throughout the period.

The gap consequently widened from 16.86 percentage points in 2016 to a peak of 25.09 points in 2021, before narrowing to 18.97 points in 2025.

Above, the data imply the persistent structural importance of agriculture to Nigeria’s economy, while the post-2021 decline may imply stronger growth in non-agricultural sectors, changes in relative prices, or an evolving economic structure.

Our analysis of Presco Plc’s financial statements shows that from 2016 to 2025 the company's revenue performance demonst...
26/08/2026

Our analysis of Presco Plc’s financial statements shows that from 2016 to 2025 the company's revenue performance demonstrates a considerable and sustained expansion.

The revenue grew from ₦15.31 billion in 2016 to ₦330.64 billion in 2025, indicating an increase of approximately 2,060% over the period.

While growth was not totally linear, the overall trajectory was strongly upward.

Revenue grew steadily from 2016 to 2018 before declining modestly from ₦21.34 billion to ₦19.72 billion in 2019.

However, growth resumed in 2020, reaching ₦34.00 billion, and accelerated significantly thereafter.

Between 2021 and 2022, revenue nearly doubled, growing from ₦47.43 billion to ₦81.03 billion, while 2024 recorded another sharp increase to ₦207.50 billion.

The highest yearly expansion occurred between 2023 and 2025, when revenue more than tripled.

Overall, the trend shows that Presco experienced substantial business scaling, which has strengthened its revenue-generating capacity and significantly improved commercial performance, particularly in the most recent years.

Nigeria’s real and nominal year-on-year growth performance shows considerable volatility between 2016 and 2025. Real gro...
26/08/2026

Nigeria’s real and nominal year-on-year growth performance shows considerable volatility between 2016 and 2025.

Real growth was positive from 2016 to 2020, but slowed sharply from 5.71% in 2016 to just 0.08% in 2019 before recovering to 4.13% in 2020.

It then turned negative between 2021 and 2023, reaching -1.56% in 2023.

Real growth rebounded strongly in 2024, surging to 10.41%, the highest value recorded over the period.

However, this momentum was not sustained, with real growth declining to -0.90% in 2025.

Nominal growth followed a more pronounced pattern, reaching 10.53% in 2020 and 14.11% in 2024, before falling sharply to -11.04% in 2025.

Overall, the data indicate significant fluctuations, with 2024 representing a major expansion year and 2025 reflecting a substantial deterioration in both real and nominal growth.

Our analysis shows that between 2016 and 2025 Nigeria’s real GDP structure is strongly concentrated in agriculture, trad...
25/08/2026

Our analysis shows that between 2016 and 2025 Nigeria’s real GDP structure is strongly concentrated in agriculture, trade and service-oriented activities.

The biggest sector is Agriculture, which increased marginally from 24.4% in 2016 to 27.5% in 2025, even though there was a slight change after it peaked at 26.2% in 2020.

There was a decline in trade, with a gradual decline from 17.2% in 2016 to 15.0% in 2020, before it recovered to 17.3% in 2025.

One of the most significant changes occurred in the Information and Communication sector, which grew from 11.7% in 2016 to 17.9% in 2024, before reaching a decline to 10.5% in 2025.

There was a rapid growth in the Real Estate sector from 5.6% in 2024 to 13.5% in 2025.

However, there was a considerable decline in the Mining & Quarrying sector from 8.6% in 2016 to 3.7% in 2025. On the other hand, the manufacturing industry experienced relative stability but fell to 8.1% in 2025

Above all, the data signifies that there is a diversified but growing economic structure, with agriculture retaining its dominant position while service-sector contributions continue to evolve.

The share of employment in Nigeria's agriculture industry shows a consistent downward trend between 2016 and 2025. The d...
25/08/2026

The share of employment in Nigeria's agriculture industry shows a consistent downward trend between 2016 and 2025.

The data shows that the percentage of citizens involved in agricultural activities fell from 39.98% in 2016 to 33.53% in 2025, which indicates a decline of 6.45 percentage points over the period.

The decline was gradual, with agricultural employment falling below 38% in 2021 and reaching 36.24% by 2022.

The most significant reductions occurred between 2022 and 2023, when the share declined from 36.24% to 34.70%. This decline was followed by further decreases to 34.10% in 2024 and 33.53% in 2025.

This continued decline implies a gradual decline in agriculture’s share of Nigeria’s total employment structure, which may be due to changes in labour-force participation, sectoral employment shifts, productivity, and the broader transformation of Nigeria’s economy.

Nigeria’s agricultural trade balance remained negative throughout 2016–2024, indicating that agricultural imports exceed...
24/08/2026

Nigeria’s agricultural trade balance remained negative throughout 2016–2024, indicating that agricultural imports exceeded exports in every year. The largest deficit occurred around 2021, while the deficit narrowed substantially by 2024.

Between 2016 and 2018, our analysis reveals that fresh cassava yield in Nigeria experienced higher rates of stability, w...
23/08/2026

Between 2016 and 2018, our analysis reveals that fresh cassava yield in Nigeria experienced higher rates of stability, which was about 9,184 kg/ha, representing 3.6% growth within the period.

In contrast, there was a significant decline in 2019, to 5,827.1 kg/ha, of 38%.

This high decline indicates the key turning point in the series and implies that productivity declined significantly.

From 2020 onward, yields largely stabilised, fluctuating within a narrower range.

Further evidence shows that the yield increased slightly between 2020 and 2021 by 0.2%.

This was followed by greater improvements of 6.2% in 2022, reaching 6,109.2 kg/ha, and 6,196.1 kg/ha in 2023.

Nevertheless, the 5.7% decline in 2024 to 5,840.5 kg/ha indicates renewed weakness.

Overall, our analysis shows that cassava productivity remains substantially below pre-2019 levels, which signals consistent constraints affecting farm-level yields.

This calls for the need for productivity-enhancing interventions such as improved agronomic practices, access to quality planting materials, soil management, climate resilience, extension services, and appropriate farm inputs and technologies.

We analyse Nigeria’s yam yields from 2016 to 2024 using the FAOSTAT dataset, which shows significant fluctuations within...
23/08/2026

We analyse Nigeria’s yam yields from 2016 to 2024 using the FAOSTAT dataset, which shows significant fluctuations within the period.

It was found that the yield increased from 9,159.9 kg/ha in 2016 to 10,199.9 kg/ha in 2018, which indicates a 11.4% growth within two years.

In contrast, the growth subsequently declined in 2019 to,806.8 kg/ha in 2019, which implies a 23.5% decrease from the exponential growth of 2018.

Further evidence indicates a gradual recovery in the yield from 8,193.5 kg/ha in 2023 to 8,149.3 kg/ha in 2024

While there was stabilisation in recent times, the 2024 yield remains about 20.1% below the 2018 peak.

This trend indicates the importance of sustained investments in improved planting materials, climate-smart farming practices, soil management, extension services, technology adoption, and evidence-based agricultural interventions to strengthen and sustainably improve yam productivity in Nigeria.

You can request a syndicated and custom industry research report for the Nigerian agriculture industry.

Contact us on 07032856109 or 08135737054

At AREC Consulting LTD, our analysis of FAOSTAT data shows that there has been an expansion in Nigeria’s rice industry i...
23/08/2026

At AREC Consulting LTD, our analysis of FAOSTAT data shows that there has been an expansion in Nigeria’s rice industry in terms of harvested area, but productivity gains have been subject to limitations.

Our analysis reveals that from 2016 to 2024, rice area harvested in Nigeria increased from approximately 4M hectares to 4.5M hectares, which indicates an increase of 15.4%

In contrast, the data shows that the yield increased slightly from 2MT/ha to 2.03MT/ha, indicating significant fluctuations in the stated period.

The yield reached its peak at 2.08 MT/ha in 2017/2018, before it declined to 1.87 MT/ha in 2022/23, even though the harvested area was 4.5M hectares.

However, there was a recovery to 2.03MT/ha in 2024, which implies encouraging growth.

The overall pattern suggests that the growth of the Nigerian rice industry has been led by the expansion of cultivated land rather than improvements in long-term productivity.

Greater emphasis should be placed on improved seeds, irrigation, agronomic practices, technology adoption, farmer capacity development, and data-driven agricultural interventions and investment for the future growth of the Nigerian rice industry.

We analyse the contribution of the Nigerian agriculture industry in both nominal and real terms from 2015 to 2025 to the...
20/08/2026

We analyse the contribution of the Nigerian agriculture industry in both nominal and real terms from 2015 to 2025 to the overall GDP.

We use the GDP reports published by the National Bureau of Statistics from 2015 to 2025 to show the changes in monetary value from growth in actual economic output.

Our research shows that Agriculture GDP increased at current prices (nominal terms) from ₦19.6 trillion in 2015 to ₦101.5 trillion in 2025.

In contrast, it increased from ₦16.0 trillion to ₦61.0 trillion at the 2015 constant prices (real terms)

This shows that the growth of the industry reflects not only changes in prices but also a considerable significant increase in its real economic output, which highlights the growing importance of agriculture industry to Nigeria’s economy.

Anticipate a detailed analysis of the industry in our forthcoming report which will be published by January 2027

You can reach out to us on 0703 285 6109 or +234 813 573 7054 for custom and syndicated industry research reports across most critical sectors of Nigeria's economy.

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No 7 Adigun Street, Ogo Oluwa Osogbo
Osogbo
230001

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