A Critical Review of World Bank Agricultural Interventions in Nigeria, 1961-2023

Abstract

Prior to the discovery of oil, Nigeria’s economy was predominantly agrarian in nature, but with the advent of oil, Nigeria’s economy made a significant shift towards a mono-economy dependent on crude oil exports. The World Bank through its relations with Nigeria has attempted to diversify Nigeria’s economy through various interventions in the agricultural sector, aiming to promote economic development and reduce dependence on oil. However, despite these efforts, little success has been achieved due to inconsistent economic policies and implementations, gross corruption, insecurity, weak institutions and lack of transparency and accountability among others. It is against this backdrop that the study seeks to examine the continuities and discontinuities in development policies and practices that have shaped the sector’s evolution. This paper utilised primary and secondary data collected from daily newspapers, online journals, Government publications; World Bank declassified document, policy briefs, and library materials. The study therefore highlighted the need for a more comprehensive approach towards the diversification of the country’s economy while addressing the underlying structural issues. It also contributes to a nuanced understanding of the evolving nature of World Bank interventions in African agricultural development using Nigeria as a focal point.