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Agriculture And The Growth Of The Nigerian Economy
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Book Synopsis Agricultural Finance and Growth in the Nigerian Economy by : Chukwuemeka Ojukwu
Download or read book Agricultural Finance and Growth in the Nigerian Economy written by Chukwuemeka Ojukwu and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been shortage of food in Nigeria and this has been fully blamed on the relative lack of agricultural output coupled with high growth rate in population and lack of planning by governments and stakeholders. the role of agriculture in the economy has been declining and its share of GDP fell from 61.5% in 1963 to 14.63% in 1983. This study has made it clear that finance is an important pre-requisite for the attainment of agricultural development. The government, through various policy measures particularly the various credit guidelines issued annually by the Central Bank of Nigeria as well as the commercial banks spreading of branches to the rural areas has tried to encourage farmers, most of who feel no obligation to refund the agricultural loan funds. In recent years, Nigeria has generally made some progress in implementing macro-economic and structural reforms towards strengthening the financial and agricultural sectors. This will reduce our reliance on imported food and raw materials to satisfy our needs and provide for exports to improve our balance of payments and thereby create resources towards our economic growth and development.
Book Synopsis Agriculture and the Growth of the Nigerian Economy by : S. Olajuwon Olayide
Download or read book Agriculture and the Growth of the Nigerian Economy written by S. Olajuwon Olayide and published by . This book was released on with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Jerome C. Wells Publisher :Ibadan : Published for the Nigerian Institute of Social and Economic Research [by] Oxford University Press ISBN 13 : Total Pages :520 pages Book Rating :4.:/5 (42 download)
Book Synopsis Agricultural Policy and Economic Growth in Nigeria, 1962-1968 by : Jerome C. Wells
Download or read book Agricultural Policy and Economic Growth in Nigeria, 1962-1968 written by Jerome C. Wells and published by Ibadan : Published for the Nigerian Institute of Social and Economic Research [by] Oxford University Press. This book was released on 1974 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Agriculture and Economic Development in Nigeria by : Adekunle Folayan
Download or read book Agriculture and Economic Development in Nigeria written by Adekunle Folayan and published by . This book was released on 1983 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Measuring Food Security Using Household Expenditure Surveys by : Lisa C. Smith
Download or read book Measuring Food Security Using Household Expenditure Surveys written by Lisa C. Smith and published by Intl Food Policy Res Inst. This book was released on 2007-01-01 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Nigeria's Economic Development written by and published by . This book was released on 1989 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Implication of Big-push theory on Nigerian economic development by : Erhunse Confidence
Download or read book Implication of Big-push theory on Nigerian economic development written by Erhunse Confidence and published by GRIN Verlag. This book was released on 2020-02-19 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Economics - Economic Cycle and Growth, grade: 4, Chukwuemeka Odumegwu Ojukwu University (Social Sciences), language: English, abstract: This paper examined the implication of Big-Push theory on Nigerian economic development. The theory provided an explanation of how developing countries can industrialize through broad-based investment and coordination. The paper looked at the meaning of Big-Push theory, assumptions and its implication on Nigeria economic development. If the need for a Big Push to survive in an economy that is open to international trade and capital movements, or if openness to trade and capital movements is sufficient to overcome all poverty traps, these questions have daunted development economics since its inception. The theory of the big push asserts that underdeveloped countries require large amounts of investments to come out of the problem of backwardness and launch policies for economic development. The logic behind this theory is that a programme of “bit-by-bit” investment will not have much impact on the process of growth and will only lead to a dissipation of resources. Policies designed to encourage the development of the Nigerian economy will need to be guided by the big-push theory.
Book Synopsis Economic Development in Nigeria Through the Agricultural, Manufacturing and Mining Sectors by : Dennis Chiekweiro Uzoigwe
Download or read book Economic Development in Nigeria Through the Agricultural, Manufacturing and Mining Sectors written by Dennis Chiekweiro Uzoigwe and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1960s, Nigeria was on a par, in terms of aspirations to attain a very high level of economic growth and development, with its fellow-oil producing and exporting countries such as Malaysia and Indonesia, but has since failed to keep pace with them. Nigeria's agricultural, manufacturing and mining and quarrying sectors have played a continuous and significant role in the development of the country's economy. The approval of the millennium development goals (MGDs) by the United Nations General Assembly therefore raises three pivotal questions for Nigeria. 1) Why is Nigeria still an underdeveloped and lowincome country? 2) What should the country do to make rapid economic and social progress? and 3) How can it attain a high level of economic development and growth?. This is the background of this study, which is an empirical investigation into the factors affecting Nigeria's bid to achieve sustainable economic growth and development with particular reference to such sectors as agriculture, manufacturing and mining and quarrying (solid minerals) over the period of 1970-2005. This involves the analysis of the relevance of the health care and education sectors and examination of impediments to past economic development, a development model applicable to Nigeria, the efforts made and the challenges facing the country in achieving the MDGs, and the role of foreign development partners in complementing Nigeria's development efforts. The methodology adopted for this study is sectoral-econometric modelling, using the Engle- Yoo (1991) model, which contributes to bridging the gap seen in empirical studies in the application of a multivariate dynamic econometric cointegration model on the effect of domestic and foreign financial resources investment for the development of the growth sectors in the Nigerian economy. The model captures the essential linkages between the growth sectors and the country's efforts to achieve a high level of economic development. The results from the simulations are broadly consistent with findings described in theoretical and empirical literature. There is a strong positive relationship between the gross output of the agricultural, manufacturing and mining and quarrying sectors and labour input and public capital expenditure for the growth sectors. Also there is a strong positive relationship between the agricultural credit guarantee scheme, fertiliser and the gross output of agriculture. Furthermore, the findings show a positive impact of the structural adjustment programme with the agricultural and manufacturing production. Dynamic simulation of results was undertaken to assess the path of the 10 percent dynamic adjustment (shocks) on the relevant exogenous variables and the response properties show remarkable and positive significant impact due to the shocks. The estimated actual and forecast values of the equations in the model show notable increase in the amount and growth of the gross domestic product of the real sectors in Naira billion from 2005 to 2008. The study calls to question rigid government control over the mining and quarrying sector. The importance of mining and quarrying in accelerating the pace of economic growth in Nigeria should rather motivate the government to deregulate and reform the sector. This will enable the government to attract investors into the sector, while effectively planning to encourage the proliferation of small-scale artisan, medium-scale and large-scale miners. The deregulation of the mining and quarrying sector will boost production, growth and development through employment creation, increased income of household miners and upliftment of the social and economic status of the vast majority of Nigerians. Some of the reasons identified for Nigeria's poor economic performance include: the serious effect of Dutch disease, reflected in the country's inability to manage and diversify its oil wealth to transform and achieve dynamic industrial (manufacturing), agricultural, mining, health and educational and other growth sectors. Nigeria also suffers the effects of a troubled political history, during which military rule persisted for extended periods. This study shows the importance of improving the knowledge base for policymaking, where intersectoral linkages between economic and social factors can be identified, and direct and indirect macroeconomic policy effects discerned. This distinguishes the study from earlier work in Nigeria on development policy. Achieving a high level of economic development through transforming the country's real sectors will not only reduce poverty by providing food security, increased agricultural and industrial exports, increased per capita income and consumption, but will also bring about improved literacy and a healthy workforce and foster peace and security in Nigeria. In addition, success in transforming the real sectors will strengthen and broaden the productive base of the country, which currently relies heavily on the petroleum sector as the major earner of foreign exchange. In order to achieve a high level of economic development and growth, attention should be concentrated on channelling global financial resources to the above-mentioned sectors because of their strong linkages with and powerful value-added effect to the rest of the economy. Under the new democratic dispensation, there ought to be large investment into the growth and support sectors from domestic and external sources if the country is to attain the international growth target of achieving a high and sustainable level of economic development. Therefore, with a strong will to become a patriotic civil society, stable and prosperous, and enough wisdom to elect leaders with good will and fairly good knowledge of the country's economy, great prospects lie before the Nigerian economy.
Book Synopsis Nigeria’s agrifood system structure and drivers of transformation by : Andam, Kwaw S.
Download or read book Nigeria’s agrifood system structure and drivers of transformation written by Andam, Kwaw S. and published by Intl Food Policy Res Inst. This book was released on 2023-07-14 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nigeria experienced a rise and fall in economic growth over the past two decades. The economy experienced strong growth, averaging 7 percent per year, from 2000 to 2014. Then falling world oil prices caused an abrupt decline in Nigeria’s GDP in 2015 and 2016 and the country entered its first recession in nearly 20 years. Since then, the economic growth rate has remained below the population growth rate, complicating efforts to reduce poverty in a country with the world’s second-largest number of poor people (80 million) (World Bank 2022a). Various other factors contributed to sluggish economic growth, including the spread of insecurity and conflict across almost all areas of the country; policies related to COVID-19 in 2020 and 2021 (Andam et al. 2020); the effects of the Russia-Ukraine war (Diao and Thurlow 2023); and general macroeconomic instability (World Bank 2022b). Nigeria’s GDP growth is projected to remain low at 2.9 percent in 2023 and 2024, barely exceeding the population growth rate (World Bank 2022c). First quarter growth in 2023 was only 2.3 percent, reflecting the impact of cash restrictions imposed by monetary authorities during the election campaign period (NBS 2023).
Book Synopsis The Effect of Agricultural Productivity on Economic Growth in Nigeria by : Comfort Amire
Download or read book The Effect of Agricultural Productivity on Economic Growth in Nigeria written by Comfort Amire and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The crucial role agricultural productivity plays in the overall development of a nation cannot be overemphasized. It is not only seen as a key to poverty reduction and vehicle for promoting equity, fairness and social justice but also helps to supply the essential economic ingredients which are necessary condition for sustained economic growth. Thus, enhancing effective investment on the agricultural sector in order to boost its capacity has been a tenet of growth and development strategies of most developed countries. The basic objective of this work is to carry out an empirical investigation on the effect of agricultural productivity on economic growth in Nigeria, using annual time series data from 2000 to 2014. The paper employs the Ordinary Least Square (OLS) method. Empirical results indicate that there is, indeed a long-run relationship between agricultural productivity and economic growth. All the variables including, the GDP contribution of the agricultural sector, gross expenditure on agriculture and gross access to bank (agricultural) loans/credit had the expected positive signs in the Nigerian economy and were also tested in relation to economic growth by using the Pearson correlation co-efficient. The findings have a strong implication on agricultural policy in Nigeria. The study suggest that a concerted effort should be made by policy makers to concentrate on the productivity of the agricultural sector in order to boost its production capacity, which would enhance productivity of output and in turn stimulates economic growth.
Book Synopsis The Structural Adjustment Programme and Nigeria's Agricultural Development by : Ifeyori I. Ihimodu
Download or read book The Structural Adjustment Programme and Nigeria's Agricultural Development written by Ifeyori I. Ihimodu and published by . This book was released on 1993 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Peasant Agriculture, Government, and Economic Growth in Nigeria by : Gerald K. Helleiner
Download or read book Peasant Agriculture, Government, and Economic Growth in Nigeria written by Gerald K. Helleiner and published by . This book was released on 1966 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study of the economic development of Nigeria since 1900 with particular emphasis on the period since world war 2 - covers economic growth, traditional agriculture, export of agricultural products, marketing boards, price stabilisation, financial aspects, etc., and includes chapters on the infrastructure, education, industrialization, the manufacturing industry and economic planning. Statistical tables, and bibliography pp. 353 to 384.
Book Synopsis Essential Economics of Growth and Development in Nigeria by : I. O. Imide
Download or read book Essential Economics of Growth and Development in Nigeria written by I. O. Imide and published by . This book was released on 2004 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Growth and Development of the Nigerian Economy by : Carl K. Eicher
Download or read book Growth and Development of the Nigerian Economy written by Carl K. Eicher and published by [East Lansing] : Michigan State University Press. This book was released on 1970 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: The colonial period; From regionalism to the first plan; Planning and implementation of development in the 1960's; Problems and prospects for the Nigerian economy in the 1970's.
Book Synopsis Transforming Agribusiness in Nigeria for Inclusive Recovery, Jobs Creation, and Poverty Reduction by : Elliot Mghenyi
Download or read book Transforming Agribusiness in Nigeria for Inclusive Recovery, Jobs Creation, and Poverty Reduction written by Elliot Mghenyi and published by World Bank Publications. This book was released on 2022-02-08 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nigeria has for decades placed enormous emphasis on diversifying its economy beyond oil and into sectors such as agribusiness and manufacturing. Lack of progress on the diversification agenda could be blamed on weak implementation and misalignment of public spending, but it also reflects more profound underlying issues. For example, declarations that any particular sector should drive diversification without offering clarity on specific investment priorities and expected outcomes will not persuade budget holders to allocate development resources. The lack of clarity also deprives policy makers and practitioners of the information, inspiration, and conviction to develop and execute sector plans that could operationalize diversification. Transforming Agribusiness in Nigeria for Inclusive Recovery, Jobs Creation, and Poverty Reduction: Policy Reforms and Investment Priorities aims to provide that clarity by illustrating the potential of the agribusiness sector to accelerate inclusive growth, create jobs, and reduce poverty. Building on an early finding that this sector provides the best prospects for inclusive growth and more and better jobs, the book identifies the specific agricultural value chains with the highest potential to create jobs, reduce poverty, and improve nutrition outcomes. The findings demonstrate, however, that the value chains with the most potential to pursue one policy objective are not necessarily as effective for other objectives, clearly calling for selectivity of value chains, depending on policy objectives. The book also estimates the level of growth required to meet specific jobs targets and finds that the growth burden is lower when on-farm and off-farm segments of agribusiness grow in tandem and higher if either segment stagnates. It concludes that a whole-of-agribusiness approach that emphasizes coordinated investments between on-farm and off-farm segments is needed to enable the sector to meet its potential in creating jobs and generating inclusive growth.
Book Synopsis World Development Report 2008 by : World Bank
Download or read book World Development Report 2008 written by World Bank and published by World Bank Publications. This book was released on 2007-10-15 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world's demand for food is expected to double within the next 50 years, while the natural resources that sustain agriculture will become increasingly scarce, degraded, and vulnerable to the effects of climate change. In many poor countries, agriculture accounts for at least 40 percent of GDP and 80 percent of employment. At the same time, about 70 percent of the world's poor live in rural areas and most depend on agriculture for their livelihoods. 'World Development Report 2008' seeks to assess where, when, and how agriculture can be an effective instrument for economic development, especially development that favors the poor. It examines several broad questions: How has agriculture changed in developing countries in the past 20 years? What are the important new challenges and opportunities for agriculture? Which new sources of agricultural growth can be captured cost effectively in particular in poor countries with large agricultural sectors as in Africa? How can agricultural growth be made more effective for poverty reduction? How can governments facilitate the transition of large populations out of agriculture, without simply transferring the burden of rural poverty to urban areas? How can the natural resource endowment for agriculture be protected? How can agriculture's negative environmental effects be contained? This year's report marks the 30th year the World Bank has been publishing the 'World Development Report'.
Book Synopsis Indirect Employment and Income Distribution Effects of Agricultural Development Strategies by : Derek Byerlee
Download or read book Indirect Employment and Income Distribution Effects of Agricultural Development Strategies written by Derek Byerlee and published by . This book was released on 1973 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic research paper presenting a simulation approach to the evaluation of the indirect economic implications of alternative agricultural development strategies for production, employment and income distribution in Nigeria - analyses the effects of alternative food production promotion and export promotion strategies, considers simulated projections for 1983, etc., and includes some preliminary agricultural policy suggestions. Bibliography pp. 73 to 77 and statistical tables.
