Resurrecting Nigeria’s groundnut pyramid

This study empirically reviewed the production trend of groundnut (Arachis hypogaea L.) that was once the pride of Nigeria, with the aim to resurrecting the groundnut pyramid in the country. The study used FAO-sourced annual data that spanned throughout 1961 to 2017 and covered production, area, yield of the studied crop and prices of the studied and competing crops. Collected data were subjected to both descriptive and inferential statistics. The empirical evidence showed the production of groundnut to be affected by area risk and uncertainty- climate change consequence. Furthermore, the future trend of the crop cannot guarantee the food security of groundnut in the country as the annual yield contribution to the annual output will not yield desirable change in the annual output level. Therefore, it becomes imperative for policymakers to inject production and developmental finances into the sector as green alternative remains the best option to salvage the economy of the country which is staggering owing to dampening crude oil prices- a major source of revenue earning. Furthermore, groundnut is now a staple food in virtually all households’ diets in the country as it serves as food, oil and condiments, confectionaries, snakes etc., thus a drain on the country foreign reserve owing to the need to strike a balance between demand and supply.