IMPACT OF BANK LOAN ON AGRICULTURAL PRODUCTIVITY IN NIGERIA
Abstract
Abstract
This study examine the impact of bank loan on agricultural productivity in Nigeria,the
specific objectives are to examine if agricultural guarantee scheme loan has significant
relationship on agricultural output in Nigeria,investigate the significant relationship of
interest rate on agricultural output in Nigeria and determine if inflation rate has
significant relationship on agricultural output in Nigeria from 2013 to 2022.The
available annual data which are secondary in nature were obtained from CBN
publications(CBN,2022).Standard econometric techniques Ordinary Least Square
(OLS)was employed with aid of E-views version 9 econometric software package to
analyse the data.The findings reveals that there is significant relationship between
agricultural credit guarantee scheme(ACGS)and agricultural output in Nigeria,there is
significant relationship between interest rate and agricultural output in Nigeria and
there is significant relationship between inflation rate and agricultural output in Nigeria.
Among other recommendations the study recommended that it would be worthwhile to
increase access to credit to agriculture to boost agricultural production,but with proper
monitoring on such credit to ensure that it is optimally used.
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