Abstract View
Article Title:
AGRICULTURAL FINANCING AND OPTIMISING OUTPUT FOR SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA: AN EMPIRICAL ANALYSIS
| Abstract: This study empirically analyse Agricultural financing and optimising Output for sustainable economic development in Nigeria. Agricultural financing is proxied by the endogenous components of government secured Agricultural Credit Guarantee Scheme (ACGS) loans and Output is proxied by Gross Domestic Product. Data were sourced from CBN statistical bulletin, 2012 and analysed using Multiple Regression techniques. Research findings indicate that though there is a positive relationship between ACGS funds and Output growth in Nigeria, the trends in their growth rate as revealed by their graphs is not commensurate. The graphs characteristics suggest that Agricultural sector contribution to GDP growth was very minimal during the period under review. However, other statistical parameters passed the test of significance. We therefore conclude that there is a positive relationship between the variables though it appears insignificant. We recommend that Government should take proactive decisions by making deliberate efforts to improve the finances of stakeholders in the Agricultural sector rather than just policies. Also, we recommend that regulatory authority surveillance on sectorial credit allocation by banks should be strengthened considering the consequences and implications of the shortage of food production for domestic consumption, earnings from Agricultural exports and the adverse effects on the living standard of citizenry. |
| Keywords: agricultural sector; ACGS loans; output; gross domestic product; Nigeria |
| Download full paper |
JOURNAL COVER
