AGRICULTURE RESOURCE AND ECONOMIC GROWTH IN NIGERIA

AGRICULTURE RESOURCE AND ECONOMIC GROWTH IN NIGERIA

Author by Dr. Babatunde Akinlabi

Journal/Publisher: European Scientific Journal

Volume/Edition: 8

Language: English

Pages: 103 - 115

Abstract

The paper analyses the relationship between Agricultural resource and economic growth in
Nigeria.  The  Ordinary  Least  Square  regression  method  was  used  to  analyze  the  data.  The
results  revealed  a  positive  cause  and  effect  relationship  between  gross  domestic  product
(GDP) and agricultural output in Nigeria. Agricultural sector is estimated to contribute 34.4
percent variation in gross domestic product (GDP) between 1970 and 2010 in Nigeria. The
Agricultural sector suffered neglect during the hey-days of the oil boom in the 1970s. In order
to improve agriculture, government should see that special incentives are given to farmers,
provide adequate funding, and also provide infrastructural facilities such as good roads, pipe
borne water and electricity.


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