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IMPACT OF
PUBLIC AGRICULTURE EXPENDITURE ON AGRICULTURAL OUTPUT AND ECONOMIC GROWTH:
(1978-2007)
ABSTRACT
The impact
of public expenditure on agriculture in Nigeria is enormous. Government having
recognized agriculture as the second highest sector after oil of which the
country depends for food, employment and foreign exchange. This project work
would summarize the magnitude and composition of governments’ expenditure on
agricultural sector since 1960 The
project also examines that contribution of agriculture towards Gross Domestic
Product (G.D.P), between the year 1960 when Nigeria got independent and up till
the beginning the oil boom in the early 1970s. Underutilization of revenue
derived by the government could bring about a downturn in the economic growth,
it is with this in mind that the study intend to achieved by examine the impact
of public Agriculture Expenditure on the Agriculture output and the economic
growth (G D P), an objective was set to
address the problem stated;
The review of the Theoretical and
Empirical literature provided a basic for the selection and specification of
the model that was used to ascertain whether public Agriculture Expenditure
have any significant impact on Agricultural output and Economic Growth or not.
To put an abrupt end to the problem, policies were recommended as a lasting
solution to the deficiencies recorded over the years.
TABLE OF
CONTENT
Title
page……………………………………………………………… i
Approval………………………………………………………………
ii
Dedication…………………………………………………………….
iii
Acknowledgement…………………………………………………….iv
Abstract………………………………………………………………...v
Table of
contents………………………………………………………vi
CHAPTER ONE
1.1 Background of study….…………………………………..1
1.2 Statement
of problem….………………………………...3
1.3 Objective of study……………………….…………………….4
1.4 Hypothesis of study…………………………………………...4
1.5 Significant of study………………………………………...4
1.6 Scope and limitation of study………………….………6
CHAPTER TWO
LITERATURE
REVIEW
2.1
Theoretical Literature Review……………………………………8
2.2
Empirical Literature Review……………………………………11
2.3 The Role
of Agriculture on an Economy…………………15
2.4 Public
Policies on Agricultural
Development in Nigeria……………………………………………….17
2.5 The
Government Impact on Agriculture………………25
2.6
Agriculture and Nigeria Economy…………………………27
2.7
Performance of Agriculture in Nigeria……………………31
2.8 The
Pre-oil Boom Era……………………………………………36
2.9 The Post
Oil Boom and Agriculture………………………37
2.10 The
Incentives to Developed
Agriculture
in Nigeria……………………………………………41
2.11 The
Role of Government in Resource Mobilization for Agricultural
Development…………………………...45
2.12
Encourage foreign investment on
Agriculture……..
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.1
Methodology……………………………………………………50
3.2 Model
Specification…………………………………50-52
3.3 Method
of Evaluation……………………………52-58
3.4 Data
Required and Source……………………58-59
CHAPTER FOUR
PRESENTATION
AND ANALYSIS OF RESULT
4.1
Presentation of Result……………………………60-67
4.2 Economic
Interpretation………………………67-70
4.3
Statistical Criteria of the Result…………70-73
4.4
Econometric Criteria of the Result……73-77
4.5
Evaluation of Hypothesis……………………77-78
CHAPTER FIVE
SUMMARY,
CONCLUSION AND POLICY RECOMMENDATION
5.1 Summary
of Findings……………………………………………79
5.2 Policy
Recommendation……………………………………80-81
5.3
Conclusion…………….…………………………………………81-83
Bibliography………………………………………………………..84-87
Appendix
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Agriculture,
in whatever form it comes or exists-food and cash crops production, livestock,
poultry, animal husbandry, hunting and Horticulture-has its roles to play in
any Nations Economic growth and
devolvement is crucial. Among these roles are sources of food for the growing
population, raw material for the manufacturing sector, reduction of
inflationary pressure, earner of foreign exchange, empowerment of the labour
force, source of income and savings for the farmer and improvement in their
living standards, and market for products of the manufacturing sector. (Jhingan
M.L 1975).
But,
unfortunately for Nigeria as a developing Nation, these roles are hardly met by
the Agricultural sector because of the internal and external factors facing
farmers in Nigeria. A catalogue of reasons have been advanced for the relative
poor performance of Nigeria’s agricultural sector. Key among these
macroeconomic disequilibrium including interest and foreign exchange rate volatilities,
poor infrastructure base, policy inconsistency and unnecessary intervention by
the public sector which sends wrong (crowding out) signal to the private
sector. (Eboh E.C, 2003).
Other
important constraints include inadequate public agricultural expenditure, over
dependence on crude oil revenue, rural-urban migration, inadequate processing
and storage capacity, smallness of farm holdings, ageing population, use of
inefficient traditional technology, inadequate agricultural extension services,
policy inconsistency and increasing population pressure etc.
In an
attempt to solve these problems of agricultural sector, the Federal and State
governments of Nigeria intervene through some agricultural policies and
programmes. Notable among the these policies are the operation field the Nation
(OFN), the Green revolution (GR), land use degree, fertilizer company of
Nigeria (NAFCON) and the National Agriculture land development authority
(NALDA) and the latest is the agriculture development project (ADP). Meanwhile,
these policies have not helped much in improving significantly the agricultural
sector as the costs involved are still more than the benefits realized.
Perhaps, for
the impact of public expenditure, surplus public agricultural expenditure
allocation on the sector itself in Nigeria, is to be more effective, efficient
workable and successful in some of these agricultural policies.
1.1 STATEMENT OF THE PROBLEM
The
agricultural sector has been affected with numerous problems which has been the
result of the poor performance of the sector itself.
This has
attracted various strategies including expansion of public expenditure on
agricultural activities. Overtime this expenditure has been on the increase
without expressly translating to a corresponding expansion in agricultural
output. The question that comes to mind are:
1.
What is the impact of public agricultural expenditure on agricultural
output in Nigeria?
2.
What is the impact of public agricultural expenditure on economic growth
in Nigeria?
1.3 OBJECTIVES OF THE STUDY
The overall
objective of this study is to determine how public expenditure can improve
agricultural output.
However, the
specific objectives are as follows:
1.
To determine the impact of public agricultural expenditure on
agricultural output.
2.
To determine the impact of public agricultural expenditure on economic
growth.
1.4HYPOTHESIS
OF THE STUDY
The hypothesis tested in this study are
as follows:
1.
Public agricultural expenditure has no significant impact on
agricultural output.
2.
Public agricultural expenditure has no significant impact on economic
growth.
1.5SIGNIFICANCE
OF THE STUDY
Once
regarded as the mainstay of the economy and also the provider of employment,
food and foreign exchange thus; adequate public agricultural expenditure on the
agricultural sector is significant.
This study
is intended to determine the trends of public agricultural expenditure on
agricultural output in Nigeria in order to ensure food security to and reduce
poverty in the economy.
This study
will also show the impact of public agricultural expenditure on the economic
growth of Nigeria over time. The result of the study will be of great benefit
to the federal republic of Nigeria because economic growth is the vehicle of
development. Development is the sustained elevation of an entire society and
social activities towards a better and more human life.
The result
of this study will be significant in the following ways:
1. It will
help the Nigerian government and her policy makers to restore fiscal
Discipline in Nigeria.
2. The study
will be important in debt management in Nigeria.
3. It will
also have implications for formulating a workable model.
1.6SCOPE AND
LIMITATION OF THE STUDY
This study
covers the period of 1978-2007, a period of twenty-nine years; basically this
research focuses on the trend of public agricultural expenditure and some
contributions of agriculture to the economy itself (GDP).
The scope
also comprises of some inherent problem facing the agricultural sector, its
prospects and policy recommendation to attain a high level of productivity.
There is no
end of knowledge and like( Anumudu C.N) will say; there is no failure anywhere
only that people have just failed to succeed. In the bead of trying to succeed
and failing to fail that this work become a success if not many factors without
our ability to achieve a desired result some of which include the bottlenecks
prevalent in the mobilization of data, which was a major concern to the essence
of this work.
There is
also lack of strong evidence in the theoretical framework of this topic that
would have provided a reliable foundation for us to stem from a particularly
Nigerian case. There is also the limitation of the small sample size which has
its attended drawbacks.
The dearth
of required statistics and limited access to literature, some journals and
publications which could have been of immense help to this work were
unavailable.
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