Contribution of Agricultural Production to the Growth of Nigeria’s Economy From 1980-2020
Chapter One
Objective of the study
The objectives of the study are;
- To ascertain the inconsistencies in the agricultural production contribution to economic growth
- To ascertain the long-run relationship among agricultural sector and the Nigerian economy
- To ascertain the various challenges facing the development of the agricultural sector in Nigeria
CHAPTER TWO
REVIEW OF RELATED LITERATURE
introduction
In the history, Aristotle, Aristarchus and Warren Anderson and many more others provide us with a frame that, agriculture is the key to the growth and development of any nation. The Physiocrats in their ideology are of the opinion that, agriculture is the sole engine that drives any economy to her promise land. That is, out of the poverty line and obscurity; these thinkers, the Physiocrats strongly have fate in the agricultural sector which serves as the propeller of an economy. In essence, the Physiocrats are of the opinion that productivity and prosperity of any nation either developed or less developed nation is hinged on the agricultural sector. A study carried out by Oyetade and Oluwatoyese (2014) on the effect of the agricultural sector as the determinant of economic growth, using a time series econometric model from 1980 to 2011 covering the period of 30 years. The study modeled several agriculture sector variables namely food/crop production, fishery, forestry, as the explanatory variables against the dependent variable, gross domestic product (GDP). The study revealed a positive relationship between the agricultural sector and economic growth. The study also discovered agricultural sector as the determinant for exportation, if given due attention in all ramification in terms of funding and enabling the environment to key actors in the sector. The study also summited that there are constraints to the full attainment of agricultural sector progress. Going through the empirical work of Ahungwa et al., (2014) were they examined trend analysis of the impact of agriculture to GDP for a period of 53 years, precisely between 1960 and 2012 using time series data. The finding from their work revealed that the agricultural sector‟s share of GDP experiences a decline, Regardless of the retrogression. The agricultural sector still had a superior lead over other sector‟s, from 1960 to 1975.The study also depicts a fluctuation between the industrial sector around 1967 to 1989.The regression results, shows that there exist a positive and significant relationship between the agricultural sector with GDP accounting for 66.4 percent of the variation in the economy, and also displays the dominance of the agricultural sector relative to other sectors of the economy. The study recommended that there should be a conducive and enabling environment provided by the government and decision makers so that the full gains can be derived from the sector, and also the Nigeria state can realize the much-clamored Vision of being the among the top 20 leading economies in the year 2020. A research conducted by Aremu (2014) covering a time span of 30 years within the period of 1981 to 2012, where he investigated the role of agriculture in economic growth and development. He examined the role that the agricultural sector played in 8 the advancement of the Nigeria economy, considering the years of neglect by government and decision makers. Aremu‟s research use of econometrics to validate his hypothesis where he used the Solow growth model that included gross capital formation (GCF) as the proxy for capital, labor proxy by post-secondary enrollment, while agricultural output and economic growth and development was proxy by real gross domestic product (RGDP).
CHAPTER THREE
RESEARCH METHODOLOGY
Research design
The researcher used descriptive research survey design in building up this project work the choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought contribution of Agricultural production to the growth of Nigeria Economy from 1980-2020
Sources of data collection
Data were collected from two main sources namely:
(i)Primary source and
(ii)Secondary source
Primary source:
These are materials of statistical investigation which were collected by the research for a particular purpose. They can be obtained through a survey, observation questionnaire or as experiment; the researcher has adopted the questionnaire method for this study.
Secondary source:
These are data from textbook Journal handset etc. they arise as byproducts of the same other purposes. Example administration, various other unpublished works and write ups were also used.
Population of the study
Population of a study is a group of persons or aggregate items, things the researcher is interested in getting information on the study contribution of Agricultural production to the growth of Nigeria Economy from 1980-2020. 200 staff of CBN, Uyo was selected randomly by the researcher as the population of the study.
CHAPTER FOUR
PRESENTATION ANALYSIS INTERPRETATION OF DATA
Introduction
Efforts will be made at this stage to present, analyze and interpret the data collected during the field survey. This presentation will be based on the responses from the completed questionnaires. The result of this exercise will be summarized in tabular forms for easy references and analysis. It will also show answers to questions relating to the research questions for this research study. The researcher employed simple percentage in the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was on contribution of agricultural production to the growth of Nigeria Economy from 1980-2020. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of agricultural production to the growth of Nigeria Economy
Summary
This study was on contribution of agricultural production to the growth of Nigeria Economy from 1980-2020. Three objectives were raised which included: To ascertain the inconsistencies in the agricultural production contribution to economic growth, to ascertain the long-run relationship among agricultural sector and the Nigerian economy and to ascertain the various challenges facing the development of the agricultural sector in Nigeria. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staffs of CBN, Uyo. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made HRM, accountant, senior staffs and junior staffs were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Conclusion
It was established that agricultural production was positively related to economic growth in Nigeria and the relationship was significant both in the long run and in the short run. However, the trend in economic growth of Nigeria have not yielded a tangible improvement in the well-being of a larger proportion of the population especially the rural populace whose primary occupation is agriculture and therefore, an economic growth that translates into poverty reduction, enhanced food security, health status, educational capacity and empowerment of youths and women in rural Nigeria should be embraced.
Recommendation
It is recommended that pro poor policies should be designed for alleviating rural poverty and this should be centred on diversifying the Nigerian economy with agriculture as the driver of the economy so that the benefits of economic growth will trickle down to the agro-based rural population that constitute a larger proportion of the population of Nigeria. Therefore, all tiers of government and the private sector should be fully involved in pursuing the course of agricultural development for the growth of Nigerian economy and ultimately poverty reduction.
References
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