The Impact of Agricultural Resources Development on Nigeria Economics Growth 2000-2021
CHAPTER ONE
Objective of the study
The objectives of the study are;
- To find out the contribution and general impacts of agricultural resource on the Nigerian economy
- To find out the challenges of agriculture resources development on Nigeria economics growth 2000 to 2021
CHAPTER TWO
LITERATURE REVIEW
Theoretical Framework
Various people have defined Agriculture in different ways but common among these definitions is the fact that it is the production of food, feed, fiber and other goods by the systematic growing and harvesting of plants and animals. Akinboyo (2008) defines Agricture as the science of making use of the land to raise plants and animals. It is the simplification of natures food webs and the rechanneling of energy for human planting and animal consumption. Until the exploitation of oil reserves began in the 1980s, Nigeria’s economy was largely dependent on agriculture. Nigeria’s wide range of climate variations allows it to produce a variety of food and cash crops. Ikala (2010) has descibe that agriculture is the profession of majority of humans. The United Nations Organization (2008) estimated that the world as a whole, over 50% of the world population is engaged in agriculture or dependent of it for a living, this is a general description of the sector. On the other hand, it includes farming, fishing, animal husbandry and forestry. Oji-Okoro (2011), stated that agricultural sector is the largest sector in the Nigerian economy with its dominant share of the GDP, employment of more than 70% of the active labour force and the generation of about 88% of non-oil foreign exchange earnings. Its share of the GDP increased from an annual average of 38% during 1992 to 1996 to 40% during 1977-2001 compared to crude oil the GDP from which declined from an annual average of 13% in 1992-1996 to 12% during 1997-2001. Development economists have focused on how agriculture can best contribute to overall economic growth and modernization. The physiocrats laid more emphasis on agriculture in the development of an economy. In their views, the development of an economy depends on the growth of the agricultural sector. The source of national wealth is essentially agriculture. The physiocrats believe that the fate of the economy is regulated by productivity in agriculture and its surplus is diffused throughout the system in a network of transactions. The agricultural sector to the physiocrats is the only genuinely productive sector of the economy and the generator of surplus upon which all depends. Todaro and Smith (2003), while looking at Lewis theory of development, assume that the underdeveloped economies consist of two sectors. These sectors are the traditional agricultural sector characterized by zero marginal labour productivity and the modern industrial sector.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
POPULATION OF THE STUDY
According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.
This study was carried to examine the impact of agricultural resources development on Nigeria economics growth 2000-2021. CBN form the population of the study.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain the impact of agricultural resources development on Nigeria economics growth from 2000 to 2021. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of the agricultural resources development on Nigeria economics growth from 2000 to 2021.
Summary
This study was on the impact of agricultural resources development on Nigeria economics growth from 2000 to 2021. Two objectives were raised which included: To find out the contribution and general impacts of agricultural resource on the Nigerian economy and to find out the challenges of agriculture resources development on Nigeria economics growth 2000 to 2021. The study adopted a survey research design and conveniently enrolled 80 participants in the study. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from CBN. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
On the whole, the agricultural sector contributes significantly to Nigeria’s GDP. The employment base of the Nigeria economy is largely dependent on this sector. The finding showed agricultural sector contributes more than 30 percent to the economy i.e. 34.4 percent. As expected agricultural sector maximally to Nigerian economy more than 50 percent, but the low 34.4 percent is due to the neglect of agriculture when oil was discovered in a commercial quantity in the 1970s. It is well over due for the Nigerian economy to diversify. The negative perception and orientation of the average Nigerian about agriculture sector should be disabused so that these sectors can contribute optimally to GDP.
Recommendation
It is recommended that Government should provide funds to acquire sophisticated farm tools and increase her budgetary allocation to this sector in a consistent manner because of its importance to the national economy, hoping that with proper monitoring of fund, it would contribute more significantly to the economy of the country. An effective utilization of such funds is also advocated and all areas of wastage blocked. The peasant farmers who live in the rural areas and who are the major providers of food for the nation should be adequately catered for by making the rural areas more conducive and habitable by the provision of adequate infrastructural facilities such as good roads, pipe borne water and electricity. The provision of these facilities will no doubt impact positively on the rural farmers’ productivity
References
- Abayomi, O. (1997). “The agricultural sector in Nigeria: The way forward.” CBN Bullion, 21: 14-25.
- Abdullahi, F.A. (2002). Spectrum Memory Guide, Agricultural Science for Senior Secondary Certificate Examination. Ibadan: Spectrum Books Limited.
- Ahmed, Y. O. (1993). “Bank of the North Pamphlets on Agricultural Financing.Various circulars and Policy Guidelines on Agricultural Financing in Bank of the North Limited.” A Paper delivered at Seminars at Bank of the North Human Resources and Development Centre by (Agric. Officer, Bank of the North Limited).
- Akinboyo, O.L. (2008). “Five decades of agricultural policies: What role has statistics played? CBN Bullion, 32: 134 – 165.
- Edoumiekumo, S. G. and Audu, N. P. (2009). “The impact of agriculture and agro-based industries on economic development in nigeria: an econometric assessment”. Journal of research in national development, 7 (1), 1-8.
- Eicher,C & Witt, L. (1964). Agriculture in Economic Development New York: McGraw Hill, London.
- Eicher,C & Witt, L. (1964). Agriculture in economic development. New York: McGraw Hill, London.
- Ekpo, A & Egwaikhide, F (1994). “Exports and Economic growth in Nigeria: A Reconsideration of the evidence.” Journal of Economic Management, 1 (1): 100-115.
- Emeka, O.M. (2007). Improving the agricultural sector toward economic development and poverty reduction in Nigeria. CBN Bullion, 4: 23-56. FAOSTAT 2004. From
- Lawal, W.A. (2011). “An analysis of government spending on agricultural sector and its contribution to gdp in nigeria .” International Journal of Business and Social Science, 2(20), 244-250.
