THE IMPACT OF AGRICULTURAL OUTPUT ON THE ECONOMY OF NIGERIA

ABSTRACT
 This study has attempted to measure the impact of agricultural output on economic growth. The study made use of secondary data from 1970-2004 sourced from various CBN publications and with the use of the ordinary least squares regression procedure, our estimates were determined. The empirical analysis carried out confirmed that agriculture has contributed positively to economic growth. 
The model employed is adopted along the Robert Solow model based.  

TABLE OF CONTENT
Title Page                                                                                                                        
Certification                                                                                                                
Dedication                                                                                                                  
Acknowledgement                                                                                                    
Abstract                                                                                                                     
List of Tables                                                                                                              
Table of Content                                                                                                        

CHAPTER ONE                  INTRODUCTION
1.1       General Introduction                                                                                                          
1.2       Background of the Study                                                                                             
1.2.1    Socio-Economic and development challenges in Nigeria’s agriculture                        
1.3       Statement of the Problem                                                                                             
1.4       Objectives of the Study                                                                                            
1.5       Scope and Limitation of the Study                                                                                     
1.6       Significance of the Study                                                                                                    
1.7       Formulation of Hypothesis                                                                                                  
1.8      Methodology                                                                                                                 
1.9       Organization of the Study                                                                                                                                                          

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CHAPTER TWO                 LITERATURE REVIEW  

2.1       Role of Agriculture in an economy                                                                            
2.2       Importance of Agriculture                                                                                         
2.3       Analysis of Selected Indicators of Agricultural Growth                                           
2.3.1    Trends in input utilization                                                                                          
2.3.2    Trends in Agricultural Financing                                                                               
2.4       Agricultural Output                                                                                                   
2.4.1    Crop Output gap                                                                                                        
2.4.2    Livestock Output gap                                                                                               
2.4.3    Fisheries Output gap                                                                                                  
2.5       Agricultural Constraints                                                                                             
2.5.1    Financial Contraints                                                                                                   
2.5.2    Infrastructure Constraints                                                                                          
2.5.3    Environmental Constraints                                                                                         27         2.5.4            Management Constraints                                                                                           

1. Land Use Constraints                                                                                                 28
1. Institutional  Reforms                                                                                                
2.     Policy Instruments                                                                                                      30

2.8       Macro-Economic variables affecting Economic Growth                                           
2.8.1    Government Expenditure                                                                                          
2.8.2    Investment                                                                                                                  36
2.8.3    Foreign Investment                                                                                                     39
2.9       The new Nigeria Agricultural policy                                                                          
CHAPTER THREE             RESEARCH METHODOLOGY                          
3.1       Theoretical Framework                                                                                               45      
3.2       Model Specification                                                                                                    50      
3.3       Estimation of the Model(s)                                                                                         53      
3.4       Diagnostic Analysis                                                                                                    53      
3.5       Sources of Data                                                                                                          55                                                                  
CHAPTER FOUR                MODEL ESTIMATION & DISCUSSION
4.1       Introduction                                                                                                                56
4.2       Model Estimation                                                                                                      56      
4.3       Model Evaluation                                                                                                     
4.4       Cochrane Orcutt Analysis                                                                                           58

CHAPTER FIVE                 SUMMARY, RECOMMENDATION & CONCLUSION     
5.1       Summary                                                                                                                     59
5.2       Recommendations                                                                                                      59
5.3       Conclusion                                                                                                                  65                              
Appendix A: Table of data                                                                                                       66     
Appendix B: Regression Results                                                                                             67                             
Bibliography                                                                                                                             69