Evaluation of agribusiness performance in Nigeria

Abstract

In Nigeria, agribusiness has a major role to play in the transformation of the agricultural sector. Little is known about the key performance indicators relevant to the agribusiness sector. This article employed the latest World Bank Enterprise Survey data to investigate and compare the links between firm characteristics and performance at micro-, small-, medium-, and large-scale agribusinesses levels. The result of the analysis showed that the small-scale agribusinesses have a higher performance score compared to the larger scales of agribusinesses and that education, firm size, the gender of the top manager, and political instability significantly predict performance. Thus, boosting agribusiness performance should start by encouraging small-scale agribusinesses. This article provides perspectives for a nuanced understanding of how an increased emphasis on small agribusinesses can lead to a more robust agribusiness sector and outlines a forward-looking and integrated research agenda for increasing performance across scales.