Going down memory lane, one can remember that major developed and upcoming Nations in the world have in one way or the other diversified their economy in various aspects but majorly on Agriculture.
History had it that Malaysia - largest oil palm producing country in the world took its first seedlings from Nigeria, improved upon it and made it a strong hold for economic advancement. Likewise China, Korea, Singapore and India who not only improved their agricultural background but also took agro raw materials and seedlings like cashew, cocoa, oil palm fruits etc. from the country are very economically balanced and buoyant so to speak.
Coming home now, it is therefore no doubt Nigeria is generously endowed with abundant natural resources including biological and non-biological resources. The resources of the entire world should be developed to the European fullest extent possible with available means as a whole can progress only by the efficient and rational use of the natural resources. Resources depend on importance attached to it. Hence, agriculture constitutes one of the most important sectors of the economy. The significance of agriculture resource in bringing about economic growth and sustainable development of a nation cannot be underestimated.
This research work therefore analyses the relationship between Agricultural commodities/resource and economic growth in Nigeria. The Ordinary Least Square regression method was used to analyze the data. The results revealed a positive cause and effect in the relationship between gross domestic product (GDP) and agricultural output in Nigeria. Agricultural sector is estimated to contribute 34.4 percent variation in gross domestic product (GDP) between the years under review (1970 and 2010) in Nigeria. Though the Agricultural sector suffered neglect during the hey-days of the oil boom in the 1970s.
In order to improve agriculture with a view to sustain its great impact on the economy many recommendations were made in the last chapter of this research report. Amongst which are that government should see that special incentives are given to farmers, provision of adequate funding for mechanized farming, and also provide infrastructural facilities such as good roads, pipe borne water and electricity.
TABLE OF CONTENTS
TABLE OF CONTENTS
1.2 PURPOSE OF THE STUDY
1.3 STATEMENT OF PROBLEMS
1.4 RESEARCH QUESTIONS
1.5 RESEARCH HYPOTHESIS
1.6 SIGNIFICANCE OF THE STUDY
1.7 SCOPE OF THE STUDY
1.8 LIMITATIONS OF THE STUDY
1.9 DEFINITION OF TERMS
REVIEW OF RELATED LITERATURE
2.1 CONCEPTUAL FRAMEWORK
2.1.1 AGRICULTURAL SECTOR AND ECONOMIC GROWTH IN NIGERIA
2.3 THEORETICAL FRAMEWORK
2.4 GROWTH PATTERN IN THE NIGERIAN NON - OIL SECTOR –PERFORMANCE UNDER DIFFERENT POLICY REGIMES
2.4.1 PROTECTIONISM POLICY ERA
2.4.2 TRADE LIBERALISATION POLICY ERA
2.4.3 EXPORT PROMOTION POLICY ERA
2.5 NIGERIA AGRICULTURAL COMMODITIES AND SOME EXPORT INITIATIVES
2.5.1 EXPORT COMMODITIES
2.5.2 AGRO EXPORT INITIATIVES
2.6 AGRICULTURAL GROWTH – A REVIEW
2.7 AGRICULTURE AND NIGERIAN ECONOMY
2.7.1 HOW VARIABLES PLAYED TO RAISE PRODUCTIVITY
2.7.2 THE ROLE OF MARKET AND NON-MARKET FORCES
2.8 AGRIC-ECONOMIC DEVELOPMENT OF NIGERIA
2.9 FACTORS THAT AFFECT PRODUCTIVITY IN THE AGRICULTURAL SECTOR
TRADE: IMPORT SUBSTITUTION OR EXPORT LED POLICY
2.11 APPROACHES TO INVESTMENT IN AGRICULTURE
2.12 MODERN AGRICULTURAL ENCLAVES
DATA AND DATA SOURCE
PRESENTATION AND DATA ANALYSIS
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
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(2014, 07). Diversification Of Nigeria Economy: A Case Study Of Agricultural Commodities.. ProjectStoc.com. Retrieved 07, 2014, from https://projectstoc.com/read/2519/diversification-of-nigeria-economy-a-casestudy-of-agricultural-commodities-1026
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