AGRICULTURAL FINANCING AND THE NIGERIAN ECONOMIC GROWTH
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study employed regression to examine the impact of agricultural financing on economic growth in Nigeria from 1981 to 2019. The study made use of four explanatory variables and one control variable which included Agricultural output (AO), Agricultural Loans (AL), Agricultural Expenditure on Trainings (AET), Interest rate (INTR), and Inflation rate (INFR) as control variable. All these to establish the impact, the explanatory variables have on the dependent variable (Real Gross Domestic Product) proxy for economic growth. The results of unit root test revealed that; all the variables are stationary at 5% since their absolute value of ADF statistics are greater than their critical value at 5%. The regression result revealed; AO, AL and INTR have positive and significant impact on the RGDP proxy economic growth. They are significant at 5% based on t-statistics computed. These findings were in agreement with the a priori expectations. While AET have positive but insignificant impact on RGDP. In the result, R 2 is 99.8% meaning that about 99.8% of RGDP in Nigeria is explained by the independent variables. Therefore, the stated Null hypothesis on AO, AL and INTR were all Rejected on the condition that their P-value were less than the probability bench mark value of 5% and hence, there Alternative Hypotheses Accepted. But for AET, its Null Hypothesis was Accepted on the condition that its P-value was greater than its Probability bench mark of 5%. The study recommends the following; There is an urgent need to improve on Agricultural output (AO) by the Government in providing and ensuring internal security so as to enable our farmers operate without hindrance to improve on their agricultural productivity by the menace of kidnapping banditry; In order for agricultural loans (AL) to further have more impact on economic growth policy makers should intensify efforts towards making policies that will enforce and encourage financial institutions to timely and adequately disburse and monitor Agricultural Loans to the targeted users and it judicious and effective utilization to avoid corruption in disbursement and mismanagement of such funds; The Government of Nigeria should encourage the training (AET) of more Agricultural Extension workers that will train rural farmers on the use of improve technologies to enhance increase productivity; The government through the Central bank of Nigeria should formulate and implement institutional strengthening policies in the areas of effective agriculture financing by providing lower interest rate (INTR) to the real sector of the economy that have direct effects on the citizenry to encourage more domestic agricultural investments; In solving high INFR problems policies should be put in place to control prices of Agric inputs and outputs. In the following ways this study has contributed to knowledge; that it has added to empirical literature by contributing to the body of knowledge and has made few significant recommendations as strategies to promote agricultural productivity in extension economic growth in Nigeria.
Related Project Materials
INVESTIGATION INTO THE CAUSES AND EFFECTS OF THE RUSSIAN INVASION OF UKRAINE
ABSTRACT
This study was carried out to examine investigation into the causes and effects of the Russian invasion of Ukra...
THE IMPACT OF LECTURER- STUDENT RELATIONSHIP ON STUDENT ACADEMIC PERFORMANCE
Abstract
The study was aimed at investigating the impact of lecturer-student relationship on students’ academic pe...
DESIGN AND IMPLEMENTATION OF A SOFTWARE FOR EXAMINATION SUPERVISION SCHEDULING FOR AN INSTITUTION OF HIGHER LEARNING
ABSTRACT
This project aims at automating the examination supervision scheduling of the...
MODIFICATION OF SURFACE, PHYSICAL AND CHEMICAL PROPERTIES OF ACTIVATED CARBONS FOR WATER PURIFICATION
ABSTRACT
The purpose of this work was to study the effect of chemical...
THE ROLES OF THE MASS MEDIA IN THE FIGHT AGAINST RELIGIOUS CRISIS
THE ROLES OF THE MASS MEDIA IN THE FIGHT AGAINST RELIGIOUS CRISIS
ABSTRACT
This study was car...
SELF-CONCEPT, ANXIETY AND MARITAL SATISFACTION OF COUPLES IN GOKANA LOCAL GOVERNMENT AREA OF RIVERS STATE: IMPLICATION FOR COUNSELLING
BACKGROUND OF THE STUDY
Most individuals who are married actively want or anticipate attaining some lev...
GROWTH PERFORMANCE AND CARCASS CHARACTERISTIC OF WEANER R RABBITS (Oryctolagus cunniculus) FED DIETS CONTAINING VARYING L LEVELS OF Stylosanthes hamata LEAF MEAL
ABSTRACT
This experiment was conducted to investigate the growth performance and carcass characteristics of weaner rabbits fed varying le...
DEVELOPMENT OF LIGHT VEHICLE BRAKE PAD TEST RIG
ABSTRACT
This report presents the development of light vehicle brake pad test rig for testing and measuring the materials frictional char...
THE ROLE OF PROJECT-BASED LEARNING IN VOCATIONAL CURRICULUM
Abstract: This study examines the role of project-based learning (PBL) in vocational curric...
DEVELOPMENT OF SOCIAL STUDIES BASED WEBQUESTS FOR PRE-SERVICE TEACHERS IN COLLEGES OF EDUCATION IN SOUTHWESTERN, NIGERIA
ABSTRACT
Social studies is largely taught in schools using lecture method, which does not promote higher-order thinking skills. One of th...
