Impact of Agricultural Sector on Economic Sustainability and Growth of Nigeria (1985-2021) ARDL Approach
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Abstract
This study examined the impact of agricultural sector on the economic sustainability and growth of Nigeria from 1985-2021. Secondary data were sourced from world development indictor 2020. Auto Regressive Distributed Lag (ARDL) approach were adopted for the study. The result of the study shows that AGROUT was positive and statistically insignificant in influencing gross domestic product (GDP) by 21% and 37% in the short run and long run, INFR and MSSP was found to have negative but insignificant impact; in both the short run and long run, EXRT shows a negative impact in influencing economic growth in Nigeria in the short run but had a positive impact but statistically insignificant. The study recommends that government should improve the current proportion of agricultural loan guaranteed, reduce the requirement of the credit scheme to peasant farmers by constant monitoring where the need arises and also invest heavily in agricultural sector in order to boost the sector and thereby improving economic growth of Nigeria.
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