prefix: doi.org/10.52283/1.ajbmr |
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MOBILIZATION OF DOMESTIC FINANCIAL RESOURCES FOR AGRICULTURAL PRODUCTIVITY IN NIGERIA
►Awe A.A
10.52283/NSWRCA.AJBMR.20120212A01
ABSTRACT
The paper examines the mobilization of domestic financial resources for agricultural productivity in Nigeria with a view to identify the contributions of the various sources of finance to agricultural productivity in Nigeria. To achieve this objective, the paper employed Vector Auto Regressive Model (VAR) to analyze time series data from (1980 – 2009). The paper identified the various instruments and strategies used by the government for mobilizing resources for the agricultural sector in Nigeria to include subsidy and agricultural credit policies that were financed through Nigerian Agricultural Credit Bank (NACB), credit facilities from Nigerian Bank for Commerce and Industries at the state level, credit through Commercial and Merchant Banks and provision of agricultural credit to the defunct Commodity Board by the Central Bank of Nigeria. The OLS (VAR) result revealed positive relationships between the variables and the variance decomposition measured the proportion of forecast error. The paper therefore recommend that the Federal government recurrent expenditure on agriculture should be reviewed upward for enhanced agricultural productivity and that both the Federal government and the Commercial Banks should mobilize more financial resources toward the agricultural sector to boost agricultural productivity which would guaranteed maximum agricultural productivity in Nigeria.
Keywords: Mobilization, Domestic, Financial Resources, Agricultural Productivity and VAR.Pages:01-07 :: Download-View
