Agriculture and intersectoral linkages and their contribution to Nigerian economic growth
Authors:
ONAKOYA Adegbemi
Publication Type: Journal article
Journal: Economics
ISSN Number:
0
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Abstract
This study investigates the contributions of the agricultural sector with respect to the Nigerian economy. A system of simultaneous equations was, formulated to seek explanations into performance of important macroeconomic variables. The reviewed behaviours are, predicated upon the received economic theories. Within the context of the sectoral connectivity of the of the real economy, the estimates incorporate the linkages among agriculture, manufacturing, oil and gas and the service sectors, especially how the affect of the other sectors influence the growth of agriculture. The findings is that inter sectoral relationships are complicated and multi-directional. The externalities and spill-over effects generated by the interactions and linkages between the different sectors attest to the dynamic nature of the economy. In addition, the economic role of the agricultural sector is a mono directional since capital is mainly towards the tertiary services, the industrial and, the oil and gas sectors. The result of this research indicated that the interrelationships between the sectors are sometimes deleterious. In the case of the oil sector and agriculture, the study recommended that the services and industrial be, further modernized to increase the agricultural contents in the value chain.