Nigeria’s Yam Industry: A $20 Billion Untapped Goldmine
February 24, 2025 – Nigeria continues to hold its position as the world’s largest yam producer, accounting for 67% of global yam production. However, despite this dominance, experts say the industry remains largely untapped, with immense potential for economic growth, job creation, and export expansion.
According to industry analysts, Nigeria produces over 50 million metric tons of yam annually, yet only a small fraction is exported. The lack of modern processing facilities, inadequate infrastructure, and limited international market penetration have hindered the full realization of the sector’s economic benefits.
“The Nigerian yam industry has the potential to generate over $20 billion annually if properly harnessed,” said agricultural economist Dr. Chinedu Okafor. “Value addition through processing, export promotion, and mechanized farming will be crucial in unlocking its full potential.”
Challenges in the Industry
Farmers cite poor storage facilities as a major setback, leading to post-harvest losses of up to 40%. Additionally, limited access to credit and poor transportation networks make it difficult for local farmers to scale production.
Despite these challenges, the federal government has expressed commitment to boosting yam exports through initiatives such as the Yam Export Promotion Programme (YEPP). In 2022, Nigeria resumed yam exports to the United States and Europe, but stakeholders say more needs to be done to ensure competitiveness in the global market.
A Call for Action
Experts believe that with the right policies, investments in storage and processing, and increased government support, Nigeria can transform yam farming into a multi-billion-dollar industry.
As the world’s top producer, we should be leading in yam exports and processing, not just production
said agribusiness consultant Adebayo Johnson. If we focus on industrialization, Nigeria could dominate the global market and generate massive foreign exchange.
For now, Nigeria remains the yam capital of the world, but whether it can turn that dominance into economic prosperity remains to be seen.
