Impacts of Agricultural Sub-Sectors’ Performances on Nigeria’s Economic Growth An Empirical Analysis
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Abstract
The agricultural sector in Nigeria consists of crop production, livestock, fishery and forestry. Recognizing the potentials of the aggregate sector, this study investigates quantitatively the impact of the four sub-sectors on economic growth in Nigeria. Employing the Eagle-Granger Co-integration and Error Correction Model (ECM) for the time series data of 1981 to 2021, the results show that in the long and short run periods, crop production, forestry, and fishery positively and significantly impact real gross domestic product in Nigeria. Livestock on the other hand had a negative but insignificant impact on real gross domestic product. With the proven ability of these sub-sectors to significantly drive economic growth in Nigeria, the study suggests that as a matter of urgency, the government should put measures in place to improve the value chains associated with each of these sub-sectors, establish structures that can address the peculiar challenges faced by practitioners in the subsectors and the Ministry of Agriculture should organise periodic workshops for dissemination of information on available grants or policies implemented as well as create feedback mechanisms to get first-hand information on the outcome of the policies.
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