THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA


Department Of Economics


PAGES: 60
FORMAT: MS WORD
Chapters: 1-5
PRICE: ₦ 5,000.00

THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA

ABSTRACT:                    

This study looked into the impact of government agricultural expenditure on economic growth in Nigeria. Time series data were gathered from secondary sources on real GDP, government agricultural expenditure, agricultural output and agricultural credit from the CBN statistical bulletin covering the period between 1981 and 2019. Econometric methods such as Augmented Dickey-Fuller unit root test, Johansen Co-integration test, Ordinary Least Squares method and Granger Causality tests were used for data analysis. The study revealed that the overall model was statistically significant at 5% level of significance. Agricultural output and agricultural credit have a positive effect on economic growth whereas government agricultural expenditure has a negative effect on economic growth. Therefore, the study recommends that budget allocations to the agricultural sector should be closely monitored and ensured that they are channeled into the right targets. The government should also put forth policies that will promote good lending environment for agricultural related investments. Financial institutions should be made more available in rural areas where most farmers reside.

TABLE OF CONTENTS

TITLE PAGE - - - - - - - - - - 1

DECLARATION - - - - - - - - - 2

APPROVAL - - - - - - - - - - 3

DEDICATION - - - - - - - - - 4

ACKNOWLEDGEMENT - - - - - - - - 5

ABSTRACT - - - - - - - - - - 6

CHAPTER ONE: INTRODUCTION

Background of the study-------9

Statement of the problem-------10

Research question--------11

Objectives of the study-------11

Statement of hypothesis-------11

Significance of the study-------12

Scope and limitation of the study------13

Organization of the study-------13

CHAPTER TWO: LITERATURE REVIEW

Introduction---------14

Conceptual framework-------14

Brief history of agriculture in Nigeria-----16

Empirical literature--------22

Theoretical framework-------27

CHAPTER THREE: METHODOLOGY

Introduction---------30

Research design--------30

Method of data collection-------30

Justification of methods-------32

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION

Introduction---------33

Descriptive statistics  --------33

Unit root test ---------35

Co-integration test--------36

OLS regression--------37

Granger causality test--------38

Discussion of findings--------39

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Introduction - - - - - - - - - 40

5.2 Summary - - - - - - - - - 40

5.3 Conclusion - - - - - - - - - 41

5.4 Recommendation - - - - - - - - 41

REFERENCES - - - - - - - - - 43

APPENDIX - - - - - - - - - - 44

CHAPTER ONE

INTRODUCTION

Background of the Study

Nigeria is endowed with abundant natural resources ranging from solid minerals to arable land with varieties of agricultural produce such as palm oil, cocoa, groundnut, beans, melon, corns, and rice, among others. The hub of Nigeria economy before the advent of oil in commercial quantity was agriculture, but with the emergence of oil, there were focus shift from being agricultural dependent country to crude oil dependent nation. Since the era of oil boom in the 1970’s, Nigeria has been a victim of monolithic economy and since then have been enjoying crude crash without adequately evolving a sound policy that will put the nation’s economy on a firm foundation for steady growth. Today, oil revenue accounts for about 90% of the nation’s gross export revenue. From the 1970 oil boom era in the country, to date, heavy reliance was on oil revenue and with the fluctuation of oil prices and a subsequent sharp decline in the world oil price in the recent periods, it is obvious that over dependence on oil as major source of revenue could fail the country as it can’t finance the budget as usual (Ikpor, 2016)

Ewubare and Eyitope (2015) stated that the growth and development of any economy, to a large extent depends on the development of its agricultural sector. In Lewis’s model of economic development with unlimited supply of labor, he discussed five roles of agriculture in the development process – product contribution, factor contribution, source of employment, foreign exchange contribution and means of technological advancement (Ayesha, n.d).

Ayunku and Etale’s study (2015) identifies the agricultural sector in Nigeria as the segment that is most critical to the achievement of the elusive goal of a diversified economy. Recent researches on the reasons for development and underdevelopment haven distinguished agricultural transformation as key to economic liberation of worsening countries. The growth and development for most nations arise from the functions of agriculture and basically from its relationships with other sectors of the economy (Oluwatoyese, Applanaidu & Abdul Razak, 2015).

Petroleum production and export play a dominant role in Nigeria’s economy and account for about 90% of her gross earnings. This dominant role has pushed agriculture, the traditional mainstay of the economy from the early fifties and sixties, to the background.

Nigeria entered recession in 2016 as a result of lower prices and production, exacerbated by militant attacks on oil and gas infrastructure in the Niger-Delta, coupled with detrimental economic policies, including foreign exchange restrictions. GDP growth turned positive in 2017 as oil prices recovered and output stabilized. With oil price volatility, the economy becomes highly vulnerable to unpredictable external shocks. This brings about the need to shift the focus from oil to the agricultural sector. This study is an improvement on other studies on the relationship between government expenditure on agriculture and economic growth in Nigeria.

Statement of the Problem

The agricultural sector used to be the primary foreign exchange earner of Nigeria. Before the Nigerian civil war, Nigeria was self-sustaining in food production. However, agriculture has now failed to keep up with Nigeria’s fast growing population, and Nigeria now depends on food imports to sustain itself. Between 2010 and 2018, Nigeria has imported agricultural products worth a total of US$231,550,000 (Central Bank of Nigeria Statistical Bulletin, 2018).

Regardless of the involvement of Nigeria in international trade, hunger, malnutrition, mass poverty and income among individuals, groups of businessmen and politicians, unemployment

and lack of executive capacity, overdependence on petroleum and import goods and services continues to take a turn for the worse thereby delaying the economic growth in Nigeria (Ijirshar, 2015).

I.3 Research Questions

At the end of this study, the researcher provided answers to the following questions:

a) What is the impact of government agricultural expenditure on economic growth in Nigeria?

b) What is the nature of the relationship between government agricultural expenditure and economic growth?

1.4 Objective of the Study

The broad objective of this study is to examine the impact of government agricultural expenditure on economic growth. Other specific objectives are:

a) To ascertain the impact of government agricultural expenditure on economic growth in Nigeria.

b) To examine the causal relationship between government agricultural expenditure and economic growth.

I.5 Hypothesis of the Study

H0 = Government agricultural expenditure has no impact on economic growth in Nigeria.

H0 = There is no causal relationship between agricultural expenditure and economic growth in Nigeria.

Significance of the Research

The significance of this research originates from the role of agriculture in the economy. Since a greater part of the population is employed in farming, the economic development is practically difficult to accomplish without building up this sector. Research on this issue is, therefore, essential to help policy decisions with regard to allocation of public expenditure. This research will also provide information to future researchers on matters concerning the relationship between government agricultural expenditure and economic growth.

The study will assist in disclosing the factors hindering the effective implementation of government policies and programmes on agriculture and will make practical suggestions towards ensuring the achievement of goals of such agricultural policies and programmes. This is important because it is only through feasible agricultural policies that the government can restore the agricultural sector and ensure its target goals and objectives in national development.

Furthermore, this research has the potential of not just developing the agricultural sector, but a whole lot of other issues Nigeria is facing – unemployment, low standard of living, rekindle the bond between agricultural sector and other sectors through supply of raw materials, balance of payment deficit. With more people engaged in agricultural activities, unemployment rates will reduce and subsequently improve the standard of living of the economy. Also, agricultural output can serve as a source of raw materials for the manufacturing sector. It could be cotton, timber/wood, fur, wool, hides and skin, etc.

Scope and Limitation of the Study

This study is limited to the analysis of the impact of government agricultural expenditure on economic growth. Therefore, the study will cover the period of thirty eight years from 1981- 2019. This study focuses on the trend of government agricultural expenditure and some contributions of agriculture to the output of the Nigerian economy itself during the period under study. The choice of this study period is based on the availability of data.

Organization of the study

This paper is divided into five chapters, of which the first chapter consists of background of the study, statement of the problem, research questions, objectives of the study, hypothesis to be tested in the study, significance and scope of the study, and definition of terms. Chapter two reviews related literature on the impact of government expenditure on agriculture on economic growth in Nigeria, and provides the theoretical framework. Chapter three discusses the research methodology used in designing the study, including the data collection and data analysis methods. Chapter four presents the data analysis, hypothesis testing and discussion of findings. Chapter five summarizes the study, draws conclusions and makes recommendations.

 

.



TYPE IN YOUR TOPIC OR KEYWORD AND CLICK SEARCH:

HOW TO GET THE COMPLETE PROJECT MATERIAL ON THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA

  • * Click the green DOWNLOAD Button above

    * Select any option to get the complete project material instantly.

    * Chat our 24/7 customer service desk on WhatsApp# (+234) 0803-766-4978 and get your complete project material instantly.

    * All project materials on this website are well researched by professionals with high level of professionalism.


TESTIMONIES FROM OUR CLIENTS

Please feel free to carefully review some written and captured responses from our satisfied clients.


  • Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.

    "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."


  • Hilary Yusuf, United States International University Africa, Nairobi, Kenya.

    "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"


  • Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.

    "Researchwap.net is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.net" and God bless you and your business! ."


  • Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.

    "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."


  • Sampson, University of Nigeria, Nsukka.

    "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."


  • Cynthia, Akwa Ibom State University .

    "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."


  • Elizabeth, Obafemi Awolowo University

    "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."


  • Ali Olanrewaju, Lagos State University.

    "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."


  • Willie Ekereobong, University of Port Harcourt.

    "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"


  • Theressa, Igbinedion University.

    "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 5k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"


  • Joseph, Abia state Polytechnic.

    "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."


  • Christiana, Landmark University .

    "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"


  • Musa, Federal University of Technology Minna

    "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."


  • Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.

    "I was scared at first when I saw your website but I decided to risk my last 5k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."


  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.
    Thank you for choosing researchwap.com.

FREQUENTLY ASKED QUESTIONS

  • How can I get the complete project - THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA

    Simply click on the DOWNLOAD green button above and follow the procedure stated.


    Is it a complete project work or just materials?

    Yes, it's a Complete Research Project material. i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data


    What if I want to change the case study for THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA, What can i do?

    Chat with Our 24/7 Customer Service Desk Now: WhatsApp# and you will be responded to Instantly


    How long does it take to get the complete project on THE IMPACT OF GOVERNMENT AGRICULTURAL EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA?

    Depending on how fast your payment and details is acknowledged by us, you will get the complete project within 30 minutes. However, on a very good day you can still get it within 15 minutes!


    How will I get my complete project?

    The Complete Project Material will be Delivered via your Email Address in an MS Word document format


    Can I get my Complete Project through WhatsApp?

    Yes! We also send your Complete Research Project to your WhatsApp Number


    What if my Project Supervisor made some changes to a topic i picked from your website?

    Call or Chat With Our 24/7 Custumer Care Desk: +2348037664978 and you will be responded to Instantly


    Do you assist students with Assignment, Term Paper, Seminar and Project Proposal?

    Call or Chat With Our 24/7 Custumer Care Desk: +2348037664978 and you will be responded to Instantly


    What if i do not have any project topic idea yet?

    Don't Worry! We've Got Your Covered. Chat with us on WhatsApp# (+234) 0803-766-4978 to Get Instant Help.


    Why should I trust this website?

    We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "TOPNOTCH INFOTECH ENTERPRISE". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!


    I have a fresh topic that is not on your site. How do I go about it?

    Don't Worry, Chat with us on WhatsApp# (+234) 0803-766-4978 to Get Instant Help.



PROJECT DETAILS

PAGES: 60
FORMAT: MS WORD
Chapters: 1-5
PRICE: ₦ 5,000.00




TYPE TOPIC OR KEYWORD AND CLICK SEARCH: