Performance of Agricultural Export Products on Economic Growth in Nigeria

Asian Journal of Agriculture and Rural Development

article

Oyetoun Dunmola Amao¹  Michael Akwasi Antwi²  Oluwaseun Samuel Oduniyi³  Timothy Olukunle Oni⁴  Theresa Tendai Rubhara² 

[1] National Bioresources Development Agency, Bioresources Development Centre;Department of Agriculture and Animal Health, University of South Africa;National Institute of Social and Economic Research;University of South Africa

关键词: Agricultural export;    Diversification;    Generalized method of moments (GMM) model;    Nigerian economy;    Gross domestic product (GDP);    Economic development;    Government policies;    Nigeria.;   

DOI  :  10.18488/journal.ajard.2021.111.47.52

学科分类：农业科学（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This research sought to explore the performance of agricultural export products on economic growth in Nigeria from 1960 to 2016. Secondary data from the National Bureau of Statistics, the Central Bank of Nigeria’s Annual Statistical Bulleting, the World Bank, and World Development Indicators were used. The Generalized Method of Moments (GMM) model was explored in this study. The findings of the study show that food and live animals, beverages, and tobacco were found to be negative but significant to agricultural exports, while agricultural exports (total) and crude materials, inedible except fats, were found to be negative and insignificant to economic growth. Animal and vegetable oils and fats were found to be positive but insignificant to economic growth. Based on the following findings, it is recommended that policies aimed at increasing the productivity and quality of agricultural products, especially those from crops, should be implemented. There is also a need to devote more resources to the production of non-export goods to increase exports. Above all, more credit should be extended to the agricultural sector with a low or zero interest rate, which may lead to a higher rate of economic growth in Nigeria.

【 授权许可】

CC BY