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The Role Of The Agricultural Sector As An Accelerator To Nigeria Economy
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1.1 STATEMENT OF THE PROBLEM
One of the constraints of the growth in
Nigeria has been the slow development of the agricultural sector. The
performance of the sector was undermined by the disincentives created by
the macro-economic environment. The economic stabilization Act enacted
in 1982 affected expenditure on agriculture and restricted income.
Indeed, the contribution of the sector to total GDP has been falling,
not necessarily because a strong industrial sector is displacing
agriculture as a result of low productivity. Emerging problem which
constraint the full realisation of the potentials in the agricultural
sector includes inadequacies in the supply and delivery of farm input,
shortage of working capital, low level of technology, diseases and pest
infestation, poor post-harvest processing and shortage, environmental
hazard, labour and land use constraint.
There is need to correct the
existing structural distortions in Nigerian agricultural sector and put
the economy on the part of sustainable growth. This study seeks to find
answers to the following research questions:
1) What role does the agricultural sector play in the development of economic growth in Nigeria?
1.1 Objectives of the study
The
main objective of this study is to evaluate the role of the
agricultural sector as an accelerator for economic growth and
development in Nigeria. Specifically, this study aims to achieve the
following objectives:
1. To access the impact of the agricultural sector on the Nigerian economic growth.
1.2 STATEMENT OF HYPOTHESIS
H0: That Nigeria’s agricultural sector has not contributed significantly to the economic growth of the country.
1.3 SIGNIFICANCE OF THE STUDY
The
significance of this study depends on the fact that with improved
economy, Nigeria stands to gain in its effects towards development. It
is advantageous to both the government and citizens; in the sense that
its serves as a guide for future governmental policy on agriculture and
when this is well implemented, we will notice that the welfare and
standards of living of the citizens will be improved.
1.4 SCOPE OF THE STUDY
This
study examines the role of the agricultural sector in the economic
growth and development of Nigeria. The performance of Nigeria’s
agricultural sector since 1960 to 2011 shall be evaluated in detail as
well as effects of the government at revamping the sector examined.
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