THE IMPACT OF AGRICULTURAL OUTPUT ON THE ECONOMY OF NIGERIA
ABSTRACT
This study has attempted to measure the impact of agricultural output on economic growth. The study made use of secondary data from 1970-2004 sourced from various CBN publications and with the use of the ordinary least squares regression procedure, our estimates were determined. The empirical analysis carried out confirmed that agriculture has contributed positively to economic growth.
The model employed is adopted along the Robert Solow model based.
TABLE OF CONTENT
Title Page
Certification
Dedication
Acknowledgement
Abstract
List of Tables
Table of Content
CHAPTER ONE INTRODUCTION
1.1 General Introduction
1.2 Background of the Study
1.2.1 Socio-Economic and development challenges in Nigeria’s agriculture
1.3 Statement of the Problem
1.4 Objectives of the Study
1.5 Scope and Limitation of the Study
1.6 Significance of the Study
1.7 Formulation of Hypothesis
1.8 Methodology
1.9 Organization of the Study
i
CHAPTER TWO LITERATURE REVIEW
2.1 Role of Agriculture in an economy
2.2 Importance of Agriculture
2.3 Analysis of Selected Indicators of Agricultural Growth
2.3.1 Trends in input utilization
2.3.2 Trends in Agricultural Financing
2.4 Agricultural Output
2.4.1 Crop Output gap
2.4.2 Livestock Output gap
2.4.3 Fisheries Output gap
2.5 Agricultural Constraints
2.5.1 Financial Contraints
2.5.2 Infrastructure Constraints
2.5.3 Environmental Constraints 27 2.5.4 Management Constraints
- Land Use Constraints 28
- Institutional Reforms
- Policy Instruments 30
2.8 Macro-Economic variables affecting Economic Growth
2.8.1 Government Expenditure
2.8.2 Investment 36
2.8.3 Foreign Investment 39
2.9 The new Nigeria Agricultural policy
CHAPTER THREE RESEARCH METHODOLOGY
3.1 Theoretical Framework 45
3.2 Model Specification 50
3.3 Estimation of the Model(s) 53
3.4 Diagnostic Analysis 53
3.5 Sources of Data 55
CHAPTER FOUR MODEL ESTIMATION & DISCUSSION
4.1 Introduction 56
4.2 Model Estimation 56
4.3 Model Evaluation
4.4 Cochrane Orcutt Analysis 58
CHAPTER FIVE SUMMARY, RECOMMENDATION & CONCLUSION
5.1 Summary 59
5.2 Recommendations 59
5.3 Conclusion 65
Appendix A: Table of data 66
Appendix B: Regression Results 67
Bibliography 69