THE ROLE OF THE AGRICULTURAL SECTOR AS AN ACCELERATOR TO NIGERIA ECONOMY
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
BACKGROUND OF THE STUDY
By the time Nigeria became politically independent in October 1960,agriculture was the dominant sector of the economy, contributing about 70% of the Gross Domestic Product (GDP) employing about the same percentage of working population and accounting for about 90% of foreign exchange earnings and the federal government revenue (CBN, 2005). The early period of postindependence up until the mid-1970’s saw a rapid growth of industrial capacity and output as the contribution of the manufacturing sector to GDP rose from 4.8% to 8.2%. This pattern changed when oil suddenly became of strategic importance to the world economy though its supply price nexus. Crude oil was first discovered in commercial quantity in Nigeria in 1956, while actual production started in 1958. It became the dominant resources in the mid 1970’s. The massive increase in oil revenue as an aftermath of the Middle East war of 1973 created and unprecedented, unexpected and unplanned wealth of Nigeria. The relative attractiveness of the urban centres made many able bodied Nigerians to migrate from hinder land, abandoned their farm lands for the cities and hoping to partake in the growing and prosperous (oil driven) 2 urban economy. This created social problems of congestion, provision, unemployment and crimes. Notwithstanding, the enviable position of the oil sector in the Nigerian economy over the past three decades, the agricultural sector has remained the largest and arguably the most important sector of the economy. Agriculture contributes to the gross force in Nigeria (Aigbokhan, 2001). It is estimated to be the largest contributor to the non-oil foreign exchange. A strong agricultural sector is essential to economy development both in its own rights and to stimulate and support the growth of industries. Economy growth has gone hand in hand with agricultural progress stagflation in agriculture is the principal explanation for poor economy performance, while rising agricultural activities has seen the most concomitant of successful industrialization (Ukeje 1999). The labour-intensive character of the sector reduces its contribution to the GDP. Nevertheless, agricultural exports are a major earner of foreign exchange in Nigeria, in the non-oil sector. Like in most developing countries, agriculture remains the backbone of the Nigeria economy. Typically, it is the largest source of employment often twothird or more of the population is dependent on this livelihood on farming. Its is a well-known fact that Nigeria’s comparative advantage in the production of 3 certain food and other agricultural commodities that can earn foreign exchange for imports of other food.it has been recognised that sustained agricultural development requires striking an appropriate balance between investments that are directly productive in agriculture and investment in infrastructure. Poor infrastructural services in developing countries will lead to low productivity. Much of the high productivity of agriculture in the developed countries is as a result of massive form of investment over many years in physical and institutional infrastructure (Manyong, et al, 2003). Conversely, the low productivity of agriculture in many developing countries reflects among other things, limited investment in rural roads and electricity. This streams from the concentration of public investments in urban areas, where the unit cost of providing services is typically less and logistic are problems fewer.
Related Project Materials
INVESTIGATION ON THE CAUSES OF PAVEMENT FAILURE ALONG HILLVIEW OFF ESBS ROAD ENUGU
ABSTRACT
One of the major problems facing the country is pavement failure. It is the concern of the Institute of Managem...
PHARMACOGNOSTIC AND ANTIULCER STUDIES ON THE LEAF OF LEUCAS MARTINICENSIS (JACQ) R.Br. (LAMIACEAE)
ABSTRACT
Leucas martinicensis is an annual herb which is used for repellant of mosquito. It has minty odor. It is an erect plant which is...
EFFECTIVENESS OF EARLY CHILDHOOD NUTRITION PROGRAMS IN PROMOTING HEALTH OUTCOMES AND DEVELOPMENTAL MILESTONES AMONG CHILDREN
Abstract: This research investigates the effectiveness of early childhood nutrition programs in promoting he...
THE PROVISION OF PUBLIC AMENITIES AND ITS IMPACT ON SMALL SCALE VENTURES IN NIGERIA
ABSTRACT
This research project tends to examine the Provision of Public Amenities and Its Impac...
TOXICOLOGICAL ASSESSMENT OF THE METHANOL LEAF EXTRACT OF SECURINEGA VIROSA(ROXB EX. WILLD) IN WISTAR RATS
ABSTRACT
Securinega virosa is one of the African medicinal plants described as a true “cure all” among traditional practition...
THE ROLE OF DATA PRESERVATION IN ENHANCING THE EFFICIENCY OF SECRETARIAL FUNCTION IN THE BANKING SECTOR IN AGUATA NORTH LOCAL GOVERNMENT AREA OF ANAMBRA STATE
ABSTRACT
This research work was done to find out the Role of Data Preservation in Enhancing the Efficiency of Secretaria...
DESIGN AND CONSTRUCTION OF AN AC/SOLAR RECHARGEABLE LANTERN
ABSTRACT
In this project, a portable cost effective AC/Solar rechargeable lantern was constructed. The dual-purpose rechargeable was de...
SHADES OF MEANING ASSOCIATED WITH PERSONAL NAMES AND NAMING IN IGALA
ABSTRACT
The purpose of the research is to examine the shades of meaning that are associated with names and naming in Igala. The study ex...
PREVALENCE, CLINICAL MANIFESTATION AND ASSESSMENT OF KNOWLEDGE, PERCEPTION AND PRACTICES OF LYMPHATIC FILARIASIS IN PAIKORO LOCAL GOVERNMENT, NIGER STATE
ABSTRACT
There are ongoing current efforts of mass drug administration for the interruption of lymphatic filariasis (LF) in Nigeria but t...
THE EFFECTS OF EARLY CHILDHOOD EDUCATION ON CIVIC ENGAGEMENT IN DIVERSE COMMUNITIES
ABSTRACT: This study examined the Effects of Early Childhood Education on Civic Engagement in Diverse Commun...
