ABSTRACT
This study assesses the impact of agricultural policies and development on economic growth in Nigeria. The data used in this study was collected from secondary data which covers about 33 years. Unit root, ordinary least square and co-integration estimating technique of data analysis was used in evaluating the secondary data. GDP was used as a proxy to economic growth, while interest rate, and government re-current and capital expenditure on agriculture were used as indicators of agricultural policies. From the findings; Re-current expenditure on agriculture and GDP are positively related, government capital expenditure on agriculture and interest rate and GDP was negatively related. It was found that a negative relationship exist between agricultural policies and the economic growth in Nigeria. The findings also revealed that the sector still encounter some problems like poor formulation and implementation of policies. Therefore, the study recommends that it is imperative for the country to develop its agricultural sector through sufficient government spending in order to set-up its economic growth. It emphasizes the need to enlighten farmers, improve and provide infrastructures, accord a priority to the sector in budget allocation, enthrone adequate and appropriate extension services, among other measures laid by the government.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
CHAPTER 2: LITERATURE AND THEORETICAL REVIEW
2.0 Introduction……………………………………………………………………………8
2.1Conceptual Framework………………………………………………………………..9
2.1.1Agriculture and Economic Growth…………………………………………………..10
2.1.2Agricultural Policies and Programmes in Nigeria……………………………………14
2.1.3Structural Adjustment Program………………………………………………………16
2.1.4The National Agricultural Policy…………………………………………………….19
2.1.5National Economic and Empowerment Development Strategy……………………...19
2.1.6Challenges of Agricultural Policies and Programmes in Nigeria…………………….20
2.2Theoretical Review…………………………………………………………………...22
2.3Empirical Studies…………………………………………………………………….23
CHAPTER 3: RESEARCH METHOLOGY
3.0Introduction…………………………………………………………………………..28
3.1Sources and Methods of Data Collection…………………………………………….28
3.2Theoretical Framework ……………………………………………………………...28
3.3Model Specification………………………………………………………………….31
3.3.1Definition of Variables……………………………………………………………….32
3.3.2 Apriori Expectations………………………………………………………………...33
3.4Estimation Technique………………………………………………………………..34
CHAPTER4: DATA PRESENTATION AND ANALYSIS
4.0Introduction…………………………………………………………………………..38
4.1Descriptive Statistics…………………………………………………………………38
4.2Stationarity Test……………………………………………………………………...40
4.2.1Unit RootTest……………………………………………………………………..…41
4.3Co-integration test………………………………………………………………...….42
4.4Ordinary Least Square ……………………………………………………………….44
4.4.1Regression Result…………………………………………………………………….45
4.5Interpretation of Results……………………………………………………………...46
4.6Summary of AprioriExpectations……………………………………………………47
4.7Discussion of Findings……………………………………………………………….48
4.7.1 Agricultural Policies from 1981-2014…………………………………………….…48
4.7.2Trend and Pattern of Agricultural Development in Nigeria………………………….49
4.7.3Effect of Agricultural Performance on Economic Growth…………………………..50
CHAPTER 5: SUMMARY, CONCLUSION ANDRECOMMENDATION
5.0Introduction…………………………………………………………………………..52
5.1Summary……………………………………………………………………….….....52
5.2Conclusion…………………………………………………………………………....53
5.3 Recommendation……………………………………………………………………..54
REFERENCES……………………………………………………………………………….56
APPENDIX…………………………………………………………………………………..58
LIST OF TABLES AND FIGURES
Figure 1: Trend of Agricultural Development in Nigeria
Table 4.2.1: Augumented Dickey-Fuller Test
Table 4.3: Co-integration Table
Table 4.4.1: Regression Result
Table 4.6: Summary of Apriori Expectations
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