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Babatunde Afolabi
Biodun Ogundele
Ibukun Felix Olusegun
Bode Owoseni
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Biodun Ogundele
Ibukun Felix Olusegun
Bode Owoseni
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Journal of Agricultural Economics and Rural Development

Agricultural Output and Economic Growth in Nigeria

Babatunde Afolabi, Biodun Ogundele, Ibukun Felix Olusegun, Bode Owoseni

Department of Economics, Afe Babalola University, Ado Ekiti, Nigeria

Department of Banking and Finance, Afe Babalola University, Ado Ekiti, Nigeria

Accepted 15 July 2017

Citation: Afolabi B, Ogundele B, Olusegun IF, Owoseni B (2017). Agricultural Output and Economic Growth in Nigeria. Journal of Agricultural Economics and Rural Development, 3(2): 203-214.

Copyright: © 2017 Afolabi et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are cited.

Abstract

This research work examined the impact of Agriculture output on Economic Growth in Nigeria, with the objective of determining the relationship between the Agricultural sector and the Economic Growth rates in Nigeria. Thus, the research was aimed at examining the contributions of agriculture (value added) to the growth of the national economy, investigating government expenditure on agriculture in Nigeria, and determining the contributions of crop production from agriculture on the Nigerian economy.  Data were collected from the World Bank Data base and CBN statistical bulletin. Co-Integration and Vector Error correction model techniques were employed as well as the Granger Causality test to determine the causality relationship between Agriculture and Economic Growth. As a result of the data collected, analyzed and interpreted, the research found that Agriculture has positive and long run impact on Economic Growth in Nigeria. The paper recommends amongst many other things that the Government of Nigeria should put in more efforts to diversify the Nigerian economy as the Nigerian agricultural sector currently suffers a lot of marginalization which has not enabled it to contribute more significantly as it should.

Key words: Agriculture, Economic Growth, Government Expenditure, Diversify.