Role Of Agriculture In Economic Growth And Poverty Reduction In Nigeria

Role Of Agriculture In Economic Growth And Poverty Reduction In Nigeria

Abstract

The purpose of the study was to determine the part of husbandry in profitable growth and poverty reduction in Nigeria. The data used were collected from the statistical bulletin of the Central Bank of Nigeria and World Bank’s development pointers, and covered the period of 33 times ranging from 1981 to 2014. Multiple retrogression was used to dissect the data. The result showed that husbandry has significant impact o n profitable growth in Nigeria. It was also showed that husbandry has significant impact on poverty reduction in Nigeria. The other variable included in the model which isnon-agriculture affair didn’t have significant impact on poverty reduction. The study thus recommends among others that government provides further backing for husbandry universities in Nigeria to carry out experimenters on all area of husbandry product; this will lead to further exports and enhancement in the competitiveness of Nigeria husbandry reduplication in transnational requests. The Central Bank of Nigeria should also come up with a stable policy for loan disbursement to growers at a reasonable interest vengeance.

Background of the Study

The part of husbandry in profitable growth and poverty reduction has come an issueof great concern in developed and developing countries. Nnadi( 2005) stated that husbandry is necessary in addressing profitable growth and poverty reduction, which are the most delicate challenges facing numerous countries in the world especially developing countries where on the normal, maturity of the population are considered poor. Attestations in Nigeria show that the number of those in poverty has continued to increase. The author stressed further that the rising profile of poverty in Nigeria is assuming a worrisome dimension as empirical studies have shown. In consonant with this, Ojo( 2008) editorialized that, Nigeria, asub-Saharan African country, has at least half of its population living in menial poverty. The UN Human Poverty Index in 1999, credited Nigeria with41.6, captured the miracle more shortly as the figure placed the nation as amongst the 25 poorest nations in the world. As at 2004, the HPI( Human Poverty Index) value for Nigeria,40.6, ranks 76th among 102 developing countries for which the indicator has been calculated. The country has adding rate of poverty both at the regions and at the public position, high severance rate, high income inequality, low quality mortal capital, high chance of population on weal and high out migration in the face of high profitable growth.

husbandry is the product of food, feed, fibre and other goods by the methodical growing and harvesting of shops and creatures( Akinboyo, 2008). According to, Brandt( 2011), husbandry is the civilization of land, raising and rearing of creatures for the purpose of product of food for man, creatures and diligence.