IMPACT OF PUBLIC AGRICULTURE EXPENDITURE ON AGRICULTURAL OUTPUT AND ECONOMIC GROWTH
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.
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 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:
- What is the impact of public agricultural expenditure on agricultural output in Nigeria?
- 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:
- To determine the impact of public agricultural expenditure on agricultural output.
- To determine the impact of public agricultural expenditure on economic growth.
1.4 Hypothesis Of The Study
The hypothesis tested in this study are as follows:
- Public agricultural expenditure has no significant impact on agricultural output.
- Public agricultural expenditure has no significant impact on economic growth.
1.5 Significance 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:
- It will help the Nigerian government and her policy makers to restore fiscal discipline in Nigeria.
- The study will be important in debt management in Nigeria.
- It will also have implications for formulating a workable model.
1.6 Scope 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 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.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 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
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
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
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
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
Disclaimer for Complete Material Utilization
The displayed research work titled "Impact of Public Agriculture Expenditure on Agricultural Output and Economic Growth" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
Introduction
- 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
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
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
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
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
Disclaimer for Complete Material Utilization
The displayed research work titled "Impact of Public Agriculture Expenditure on Agricultural Output and Economic Growth" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
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