Journal of Culture, Society and Development www.iiste.org ISSN 2422-8400 An International Peer-reviewed Journal Vol.27, 2017 40 Sustainability and Agribusiness Development in Nigeria *Munonye, J.O N.S Esiobu Department of Agricultural Economics, Extension and Rural Development, Imo State University, Owerri, Nigeria Abstract Sustainable development refers to the development that meets the needs of the present, without compromising the ability of future generations to meet their own needs. For an agribusiness to be sustainable it must produce food with regard not only to the environment (to ensure production can continue on an indefinite basis) but also to generating sufficient production to meet the demand and producing an adequate return for farmers to support the standard of living they and their next generations require. It was on this background that the study assessed the sustainability and agribusiness development in Nigeria. The study adopted secondary data as sources of information. Relevant literatures on sustainability and agribusiness development were elicited from various impact journals and critically reviewed. The study viewed agribusiness as generic term for the various businesses involved in the food production chain, including farming (both subsistence and mechanized farming), seed supply, manure, fertilizers and agri-chemicals, farm machinery, distribution, wholesale and retail sales, processing, research and development, marketing and financing of the agro-allied industry. Findings provided evidence of agribusiness been a key enablers for sustainable development of developing countries like Nigeria, this is because of its crosscutting nature thus affecting all sectors of the nation’s economy ranging from socio- economics, agriculture, commerce, marketing, industrials, environment, among others. The study provided an evidence that sustainable agribusiness is capable of providing aggregate employment, reducing poverty, ensuring and food security. Regretably, poor policy articulation, inadequate working capital, lack of appropriate technology and inadequate infrastructure are the bane of sustainable agribusiness development in Nigeria. However, it was recommended that the government at all levels should as a matter of urgency intensify awareness about sustainable agribusiness development build agribusiness skills and technological capabilities among firms and her citizen as this would enhance the nation’s annual Gross Domestic Product (GDP) positively. Keywords: Sustainable development; Agribusiness; Constraints; Nigeria Introduction The term “Sustainable Development” is used to describe the development that meets the needs of the present, without compromising the ability of future generations to meet their own needs (Nwaiwu et al., 2013 and Onubuogu and Esiobu, 2014). The concept of sustainable development can be interpreted in many different ways, but at its core is an approach to development that looks to balance different, and often competing, needs against an awareness of the environmental, social and economic limitations of Nigeria nation (Olowa and Olowa, 2012). One perspective on sustainability is that a sustainable agribusiness model is one that produces sufficient food to meet the demand existing both now and in the future. The argument is that for an agribusiness to be sustainable it must produce food with regard not only to the environment (to ensure production can continue on an indefinite basis) but also to generating sufficient production to meet the demand and producing an adequate return for growers to support the lifestyle they and their next generations require (Ching, 2008). In the same vein, Agribusiness refers to the generic term for the various businesses involved in the food production chain, including farming (both subsistence and mechanized farming), seed supply, manure, fertilizers and agri-chemicals, farm machinery, distribution, wholesale and retail sales, processing, research and development, marketing and financing of the agro-allied industry (Pawa, 2013). Agribusiness also includes a range of activities and disciplines encompassed by modern food production, and denotes the nexus between, inter alia, natural resource management, tourism and hospitality, innovation, mechanization, manufacturing and processing activities to add value to raw materials or cash products as well as trade and distribution (Nina et al., 2010). It is known that there is a “general discontent with the industrialization of agricultural production and food provision systems has put agribusiness and the food industry at the core of societal debates” (Jansen and Vellema, 2004). This development has put pressure on the agribusiness sector in general and individual companies to avoid controversially discussed management practices and improve the sustainability of products and processes (Deimel et al., 2010). In this sense it has repeatedly been argued that agribusiness firms must implement changes in the way they do their business to maintain their “license to operate” and their “license to deliver” to the ever more demanding markets in the post-modern societies of Nigeria (Heyder and Theuvsen, 2008). The centrality of agribusiness in the interface between agriculture, and the rural sector cannot be easily