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Africa’s Food, Beverage Growth To Hit $1trn By 2030- World Bank Expert

Published

6 years ago

September 6, 2019

Joel Ajayi

A Senior Agriculture Economist with the World Bank, Dr Adetunji Oredipe, has revealed that the food and beverage sub-sector in Africa has the potential to grow to about one trillion dollars by 2030.

Oredipe made this known at the 2019 Agriculture Summit Africa, a two-day event organized by Sterling Bank in collaboration with the World Bank and other stakeholders.

The economist, who presented a paper on the theme of the summit: “Agriculture: Your Piece of the Trillion-Dollar Economy” said the projection was based on the huge potential in the continent.

According to him, it is on record that Africa’s value system is currently about 313 billion dollars a year, and could triple if government and business leader’s radically rejigged policies and support farmers in the field and agribusinesses.

“The trio of agriculture, farmers and the agribusinesses constitute 50 per cent of Africa’s economic activity.

“If well harnessed, we will be able to increase job opportunities, greater prosperity, less hunger and progress for African farmers to compete globally.

“This will however be achieved if the farmers and agribusinesses undoubtedly receive expanded access to more capital, uninterrupted electricity, modernised technology and good land use policy. These are things that are available in other climes.

“To maintain the shares of the continent’s agriculture GDP in 2030, Nigeria will need to grow its agriculture revenue by compounded annual growth rate of 4.7 per cent.

“To ensure this is achieved, the agriculture budget to the GDP would have to be sustained at a minimum of seven per cent annually,” he said.

He decried that the 2030 growth projection might not be achieved if concerted effort was not made by African countries to reposition the agricultural sector.

He expressed concern that the gap between developed and developing nations was continually widening.

Oredipe recalled that agriculture, which was Nigeria’s mainstay in the 60s, had taken a nose dive, making the country to lose its place to other countries.

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Riyadh 2025: Nigeria’s Boxing Contingent Departs for Saudi Arabia

Published

21 hours ago

November 4, 2025

The Gleamer

Joel Ajayi

Team Nigeria’s boxing contingent has officially departs the shores of the country for Riyadh, Kingdom of Saudi Arabia, ahead of the 6th edition of the Islamic Solidarity Games, taking place from November 7 to 21, 2025.

The team forms a vital part of Nigeria’s contingent at the multi-sport event, which gathers athletes from across over 55 nations globally. Nigeria’s participation reflects the nation’s commitment to expanding its global sporting profile and using sport as a tool for unity, national pride, and youth development.

Chief de Mission, Director General of the National Sports Commission (NSC), Hon. Bukola Olopade, described the Riyadh Games as a “crucial aspect of Nigeria’s strategic sports development plan,” emphasizing that the event serves as both a test of preparation and a pathway toward greater international success, including at the 2028 Olympic Games in Los Angeles.

He reaffirmed the NSC’s commitment to ensuring that Nigerian athletes receive the necessary support to excel on global platforms.

“This is more than just another international competition; it is a vital stepping-stone for our athletes toward Olympian ambitions,” Hon. Bukola Olopade said ahead of the team’s departure.

“Our team is prepared, focused, and hungry for success. We carry the hopes of the nation with us to Riyadh,” Hon. Olopade added.
Nigeria has maintained a strong presence at the Games since the inaugural edition in 2005. Over the years, the country’s athletes have recorded success across various sporting categories.

The contingent is led by experienced coaches and supported by technical staff dedicated to achieving peak performance levels.

As the competition gets set to begin in Riyadh, all eyes will be on the Nigerian contingent to deliver a performance that reinforces the country’s reputation as one of Africa’s leading sporting nations.

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