FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA
This paper analyzed the impact of federal government agricultural financing on economic growth in Nigeria. The study utilized the time series data which was extracted from the Central Bank of Nigeria statistical bulletin. The properties of the variables were tested using the Augmented Dickey-Fuller...
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| Format: | Article |
| Language: | English |
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Faculty of Economics, University of Tuzla
2022-05-01
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| Series: | Economic Review |
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| Online Access: | http://er.ef.untz.ba/index.php/er/article/view/33 |
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| author | Rasaki Olufemi Kareem Rukayat Adebunmi Arije Zakariah Olayiwola Amoo Hassan Yusuf Avovome |
| author_facet | Rasaki Olufemi Kareem Rukayat Adebunmi Arije Zakariah Olayiwola Amoo Hassan Yusuf Avovome |
| author_sort | Rasaki Olufemi Kareem |
| collection | DOAJ |
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This paper analyzed the impact of federal government agricultural financing on economic growth in Nigeria. The study utilized the time series data which was extracted from the Central Bank of Nigeria statistical bulletin. The properties of the variables were tested using the Augmented Dickey-Fuller unit root test. A Single equation cointegration test confirmed no cointegration and a short-run vector autoregressive model was used to analyze the data, after which the diagnostic test was carried out to confirm the normality of the series. The study revealed that federal government agricultural financing has a negative contribution to economic growth in Nigeria and was statistically insignificant. Agricultural Credit Guarantee Scheme Funds had a positive but not statistically significant contribution to economic growth and there was no causal relationship among the variables. The study concluded that federal government agricultural financing has no significant impact on economic growth in Nigeria. Therefore, the study recommended that federal government should increase funding to the agricultural sector to be able to impact positively on the economic growth of Nigeria.
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| format | Article |
| id | doaj-art-6f4bda4f1a8d416a9922daae4e14798c |
| institution | Kabale University |
| issn | 1512-8962 2303-680X |
| language | English |
| publishDate | 2022-05-01 |
| publisher | Faculty of Economics, University of Tuzla |
| record_format | Article |
| series | Economic Review |
| spelling | doaj-art-6f4bda4f1a8d416a9922daae4e14798c2025-02-10T00:30:49ZengFaculty of Economics, University of TuzlaEconomic Review1512-89622303-680X2022-05-01201 FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIARasaki Olufemi Kareem0Rukayat Adebunmi Arije1Zakariah Olayiwola Amoo2Hassan Yusuf Avovome3Department of Economics and Actuarial Sciences, College of Arts, Social and Management Sciences, Crescent University, Abeokuta, Ogun State, NigeriaDepartment of Economics and Actuarial Sciences, College of Arts, Social and Management Sciences, Crescent University, Abeokuta, Ogun State, NigeriaDepartment of Agriculture, School of Agriculture, Lagos State University, Epe Campus, Lagos State, NigeriaDepartment of Economics, Federal College of Education, Osiele, Abeokuta, Ogun State, Nigeria This paper analyzed the impact of federal government agricultural financing on economic growth in Nigeria. The study utilized the time series data which was extracted from the Central Bank of Nigeria statistical bulletin. The properties of the variables were tested using the Augmented Dickey-Fuller unit root test. A Single equation cointegration test confirmed no cointegration and a short-run vector autoregressive model was used to analyze the data, after which the diagnostic test was carried out to confirm the normality of the series. The study revealed that federal government agricultural financing has a negative contribution to economic growth in Nigeria and was statistically insignificant. Agricultural Credit Guarantee Scheme Funds had a positive but not statistically significant contribution to economic growth and there was no causal relationship among the variables. The study concluded that federal government agricultural financing has no significant impact on economic growth in Nigeria. Therefore, the study recommended that federal government should increase funding to the agricultural sector to be able to impact positively on the economic growth of Nigeria. http://er.ef.untz.ba/index.php/er/article/view/33agricultural sectoragricultural financeunit root testeconomic growth |
| spellingShingle | Rasaki Olufemi Kareem Rukayat Adebunmi Arije Zakariah Olayiwola Amoo Hassan Yusuf Avovome FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA Economic Review agricultural sector agricultural finance unit root test economic growth |
| title | FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA |
| title_full | FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA |
| title_fullStr | FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA |
| title_full_unstemmed | FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA |
| title_short | FEDERAL GOVERNMENT AGRICULTURAL FINANCING AND ECONOMIC GROWTH IN NIGERIA |
| title_sort | federal government agricultural financing and economic growth in nigeria |
| topic | agricultural sector agricultural finance unit root test economic growth |
| url | http://er.ef.untz.ba/index.php/er/article/view/33 |
| work_keys_str_mv | AT rasakiolufemikareem federalgovernmentagriculturalfinancingandeconomicgrowthinnigeria AT rukayatadebunmiarije federalgovernmentagriculturalfinancingandeconomicgrowthinnigeria AT zakariaholayiwolaamoo federalgovernmentagriculturalfinancingandeconomicgrowthinnigeria AT hassanyusufavovome federalgovernmentagriculturalfinancingandeconomicgrowthinnigeria |