Economy of Nigeria of 5%. By 2012, expenditures stood at $31.61 billion, while revenues was $54.48 billion. Nigeria ranks sixth worldwide and first in Africa in farm output. The sector accounts for about 18% of GDP and almost one-third of employment. Nigeria has 19 million head of cattle, the largest in Africa. Though Nigeria is no longer a major exporter, due to local consumer boom, it is still a major producer of many agricultural products, including: cocoa, groundnuts (peanuts), rubber, and palm oil. Cocoa production, mostly from obsolete varieties and overage trees has increased from around 180,000 tons annually to 350,000 tons. Major
Yam production in Nigeria to the yam farms till it is ready for harvesting; however, harvesting of the crop is the prerogative of the women. Yam production in Nigeria Nigeria is by far the world’s largest producer of yams, accounting for over 70–76 percent of the world production. According to the Food and Agriculture Organization report, in 1985, Nigeria produced 18.3 million tonnes of yam from 1.5 million hectares, representing 73.8 percent of total yam production in Africa. According to 2008 figures, yam production in Nigeria has nearly doubled since 1985, with Nigeria producing 35.017 million metric tonnes with value equivalent of US$5.654 billion.