Contraints to Economic Diversification and Profitability of Agricultural Production in Nigeria

Political Science (Political Economy)

Nigeria has not demonstrated high level seriousness towards diversifying the country’s economy by tackling threats militating against agricultural development that undermine mass participation as a result of low earnings and productivity. Using content analysis, the paper examines factors inhibiting diversification of Nigeria’s economy and increased profitability in agriculture production. Systems theory was used as the theoretical framework. The paper concludes that problems bedeviling economic diversification and profitability of agriculture are multifaceted but dominantly reside with the Nigeria’s political economy. It is recommended that there is the need to adopt a new approach to stem the tide of weak institutions through leadership reinforcement using the Public Private Partnership management system, for corporate benefits that gives stake to the peasants and increase their incomes and earnings from agricultural production.

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