AGRICULTURAL DEVELOPMENT DRIVERS AND ECONOMIC GROWTH OF NIGERIA (1970-2015)

AGRICULTURAL DEVELOPMENT DRIVERS AND ECONOMIC GROWTH OF NIGERIA (1970-2015) (ECONOMICS PROJECT TOPICS AND MATERIALS)

ABSTRACT

In recent decades, the main and potential contribution of agriculture to economic growth has been a subject of much controversy among development economists. As some contend that agricultural development is a pre-condition for industrialization, others strongly object it and argue for a different path. This study tries to look at the drivers of Agricultural development and its economic effect in Nigeria from 1970-2015 which will enable us proffer solution to Agricultural development in the economy since it is an important component of any economic growth of any country. Taking advantage of ordinary least square method (OLS), the research carried out by means of secondary data and using the independent variables, Improved Agricultural Inputs (IAI), Real Exchange Rate (REXR), Real Interest Rate (RINTR) Government Expenditure in Agriculture (GEA) and Total credit to the Agricultural sector (ACCESS) to re-examine the question of whether agriculture could serve as an engine of Economic growth in Nigeria. The result gotten from the empirical analysis shows that the productivity in agricultural sector has appreciably affected positively on the economic growth in Nigeria.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Agriculture is said to be the foundation and bedrock upon which the development of stable human community has depended on throughout the whole universe such as rural and urban communities.

Agriculture is the cultivation of land, raising and rearing of animals for the purpose of production of food for man, animals and industries. It involves and comprises of crop production, livestock and forestry, fishery, processing and marketing of those agricultural production. The studyof the history of economics provides us with ample evidence that agricultural revolution is a fundamental pre- condition for economic development.The agricultural sector has the potentials to be the industrial and economic springboard from which a country’s development can take off.

AGRICULTURAL DEVELOPMENT DRIVERS AND ECONOMIC GROWTH OF NIGERIA (1970-2015) (ECONOMICS PROJECT TOPICS AND MATERIALS)