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The Empirical Investigation Of The Relationship Between The Agricultural Sector And The Industrial Sector As A Strategy For Economic Growth And Development In Nigerian.
[A CASE STUDY OF NIGERIA ECONOMY]
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1.5 RATIONALE OF STUDY
Agriculture is still the main stay of the Nigerian economy with about 70% of the country’s labour force there in. at independence (1960) the percentage contribution of the sector to GDP was about 70%. And over view of the Nigerian economy shows that agriculture is still predominant in spite of the increased industrial growth over the years. The agricultural activity dominated the economy between 1950-1974 contributing N1,342 million to GDP in 1959 and N1,308.7 million in 1974. It highest contribution was in 1971/72 when it stood at N1982.9 million as revealed by the federal office of statistics, national account of Nigeria (Lagos, 1976). In 1995 the agricultural sector contributed N520,999.4 million to the GDP, while the industrial via manufacturing sector contributed N116,820.6 million to the GDP. The fall in the share of the agricultural sector between 1960 and 1980 is partly due to the normal growth pattern and the neglect of the sectors as a result of large return accruing from crude oil production.
Fall in the share of manufacturing sub-sector of the industrial sector in 1980s that made the procurement of imported raw materials difficult and expensive. The continue poor performance of the external sector especially the crude oil has forced the government to re-order his priority such that agriculture and self-reliance is given emphasis. Although by 1995 the increase in agriculture’s share in GDP was quite small as it managed to move to 35.4% yet it is quite better than the industrial sectors share of 70.9%. In essence this shows that in spite of the fact that the decline in agricultural activity appears natural in many development process, it is obvious that in Nigeria, agricultural activity will remain the most single sector for some time to come, hence more attention should be directed to the agricultural sector to enable it move to heights that would help it play its role in the industry.
1.6 HYPOTHESIS
The relationship between the agricultural sector and the industrial sectors has accounted for a large proportion in the strategy for economic growth and development. In an attempt to understand the degree of inter-dependence among the different sectors of an economy and therefore the relative importance of each sector, a number of devices have been employed to measure movement of resources among sectors. One of these devices is the input-output table, which measures the degree of inter-dependence among the different sectors of the economy.
1.7 METHODOLOGY OF RESEARCH AND SOURCES
The techniques to be used in this study will be descriptive analysis in which table will be employed. The data needed for this study will be collected from published and unpublished works, the central bank of Nigeria, economic and financial review, central bank annual report and statement of account, the CBN statistical bulletin.
The technique of analysis is descriptive in nature, the analysis used tables being the most frequently used method of data analysis tables used in the form of general descriptive tables, which are in use in summarized and condensed data, the data used have already been compiled by CBN.
1.8 SCOPE OF THE STUDY
The study will cover the output of the agricultural sector (crops) and industrial sector (manufacturing). The work will critically examine the role and contribution of agricultural sector in the industrial development in Nigeria, the project will focus on Nigeria, but many scathingly sight example from some other countries in analyzing some points.
1.9 ORGANIZATION OF WORK
For ease of presentation the project has been divided into chapters. Apart from chapter one, which deals with the introduction, there are four other chapters.
Chapter two review existing literature and theoretical framework on agricultural sector and industrial sector. Chapter three consist of the overview of the role of the agricultural sector to economic development and growth, also the contribution to industrial sector. Chapter four is on data analysis and in which the agricultural-industrial relation in Nigeria is explored. Chapter five comprises of the summary, recommendation and conclusion on the role and significance of the agricultural sector contribution to industrial sectors.
CHAPTER ONE -- [Total Page(s) 3]
Page 3 of 3
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThis project study the empirical investigation of the relationship between the Agricultural sector and the industrial sector as a strategy for economic Growth and development in Nigeria.The major objective and aims of this project work is to look at the effect of agricultural sector and the industrial sector in Nigeria. The data used in this project are mainly from primary survey data (by the use of questionnaire), personal interview with the respondents and secondary survey data.The fin ... Continue reading---
