IMPACT OF AGRICULTURAL LIVESTOCK FINANCING ON NIGERIA ECONOMIC GROWTH

Abstract This study examines the impact of livestock funding on Nigeria’s economic growth over the period 2000–2022, using a regression analysis model. The objective was to assess how financial support for various categories of livestock farming—cattle, sheep, poultry, and other livestock—affects the nation’s real gross domestic product (RGDP). The empirical findings reveal that livestock funding generally exhibits a positive but statistically insignificant relationship with economic growth, except for sheep farming loans, which show a negative and significant impact on RGDP. Specifically, cattle, poultry, and other livestock loans demonstrate positive yet insignificant effects on Nigeria’s economic performance within the study period. Similarly, total livestock funding also maintains a positive but insignificant association with RGDP. These results suggest that although livestock funding has the potential to contribute to economic growth in Nigeria, the effects have not been strong or significant enough during the study period. The study concludes that improved access to and efficient utilization of livestock funding could enhance the sector’s contribution to Nigeria’s economic development.