THE IMPACT OF AGRICULTURAL DEVELOPMENT ON NIGERIA ECONOMIC GROWTH (2001-2021).
Abstract
ABSTRACT
This project investigates the contribution of the agriculture sector to economic growth in
Nigeria using the growth accounting framework and time series data from 2001 to 2021. We find
that the agriculture sector has contributed positively and consistently to economic growth in
Nigeria, reaffirming the sector‟s importance in the economy. As some contend that agricultural
development is a precondition for industrialization, others strongly object it and argue for a
different path. Taking advantage of ordinary least square method (OLS), the research carried out
by means of secondary data and using the independent variables. Agricultural Development
(AGD),
Capital Formation (CFN) Inflation Rate (INF), and Interest Rate (INT) to re-examine the question
of whether agriculture could serve as an engine of Economic growth in Nigeria. The result gotten
from the empirical analysis shows that the productivity in agricultural sector has appreciably
impacted positively on the economic growth in Nigeria.
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