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Role of Agriculture in Economic Growth & Development: Nigeria Perspective

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  • Yusuf, Sulaimon Aremu

Abstract

The study explored empirically the role of agriculture in development of Nigeria between 1981 and 2012. The study is borne out of the curiosity to examine the role agriculture plays in the development of a nation having being neglected in this part of the world over a considerable period of time by the government and policy makers while the whole attention is paid on the crude oil. The term-paper takes analytical and quantitative dimension. The quantitative technique is employed in a multivariate study with the adaptation of the Solow Growth model that include Capital proxy by Gross Capital Formation (GCF), labour proxy by post secondary school enrolment, Agricultural Output and Economic Growth and Development proxy by RGDP. Restricted Error Correction Model is used with the aid of Econometrics View Package (e-view). The study reveals that the Agriculture plays a significant role in economic development of the nation. In addition, the sector has been neglected to the extent that its contribution to the GDP has been dwindling since 90’s. Consequently, the barriers to the agricultural sector performances were identified and the necessary policy recommendations were proffered.

Suggested Citation

  • Yusuf, Sulaimon Aremu, 2014. "Role of Agriculture in Economic Growth & Development: Nigeria Perspective," MPRA Paper 55536, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:55536
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    File URL: https://mpra.ub.uni-muenchen.de/55536/1/MPRA_paper_55536.pdf
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    Citations

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    Cited by:

    1. Sayef BAKARI & Malek El WERIEMMI, 2024. "What drives Tunisian economic growth: urbanization or rural development?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(639), S), pages 215-242, Summer.
    2. repec:ajn:abrjou:2019:p:1-9 is not listed on IDEAS
    3. Agboola, J.O. & Yossa, R. & Verreth, J., 2019. "Assessment of existing and potential feed resources for improving aquaculture production in selected Asian and African countries," Monographs, The WorldFish Center, number 40830, April.
    4. Cordelia Onyinyechi Omodero, 2019. "Government Sectoral Expenditure and Poverty Alleviation in Nigeria," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(1), pages 80-90, June.

    More about this item

    Keywords

    Agriculture productivity; Growth and Development;

    JEL classification:

    • Q1 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture

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