Effect of Economic and Agricultural Diversification on the Economic Growth in Nigeria

DOI: 10.18805/ag.D-167    | Article Id: D-167 | Page : 34-38
Citation :- Effect of Economic and Agricultural Diversification on the Economic Growth in Nigeria.Agricultural Science Digest.2020.(40):34-38
Ohunyeye O. Felix, Obamen Joseph, Omonona Solomon, Agbaeze K Emmanuel omononamise@gmail.com
Address : Department of Management, University of Fort Hare, Alice Campus South Africa.
Submitted Date : 8-06-2019
Accepted Date : 28-11-2019

Abstract

The study examines the effect of economic and agricultural diversification on economic growth in Nigeria. The objectives were to determine the effect of government agricultural spending on Nigeria’s Gross Domestic Product. Data were collected from secondary sourced using the time series data which was extracted from the Central Bank of Nigeria (CBN) annual Statistical Bulletin for the period and The Nigeria Bureau of Statistic annual reports. Data were analyzed using the Autoregressive Distributed Lag (ARDL) approach or Bound Test Method. The findings revealed that Government agricultural expenditure does not have a significant effect on Gross Domestic Product. The investigation suggested that the government at all level should increase their budgetary allocations for agriculture and also develop a functional agricultural long-term blueprint to improve the sector.

Keywords

Agriculture Government expenditure Gross domestic product

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