Agriculture in the Nigerian business environment and government policies (1976-2012)/ Ben Akpoyomare Oghojafor, Sunday Aboyami Adebisi dan Ademola Idowu

Oghojafor, Ben Akpoyomare and Adebisi, Sunday Abayomi and Idowu, Ademola (2015) Agriculture in the Nigerian business environment and government policies (1976-2012)/ Ben Akpoyomare Oghojafor, Sunday Aboyami Adebisi dan Ademola Idowu. Terengganu International Management and Business Journal (TiMBeJ), 5 (1). pp. 8-23. ISSN 2232-0741

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Abstract

The study examined the trends of real Gross Domestic Product, Agriculture Gross Domestic Product, Government Expenditure on Agriculture, Domestic Savings and Foreign Direct Investment in Agriculture with a view to determining the relative contributions of the Nigeria’s Agriculture sector to the Nigerian economy. Data were generated through the secondary sources and Ordinary Least Squares (OLS) used to fit the models. The study noted that there is positive and significant relationship between Agric GDP and Foreign Direct Investment (t=9.58, p=0.0000) and Government Expenditure on Agriculture 3.99, p=0.0004) while there is no significant relationship between Agric GDP and Domestic Savings (t=1.73, p=0.0930). The study also revealed that the contributions of the agricultural policies on the Nigerian Business Environment are not large enough to justify the investment in the sector. The study further noted that poor implementation and mismanagement of policy instruments could constitute major obstacles to the achievement of the goals and objectives of the policies. The study has therefore suggested the transformation of Nigeria’s agricultural industry which will require addressing risks and profitability issues that may inhibit the supply and demand for technical inputs, and will likely necessitate using subsidies as incentives to the private sector to strengthen the supply and value chains.

Item Type: Article
Creators:
CreatorsEmail
Oghojafor, Ben AkpoyomareUNSPECIFIED
Adebisi, Sunday AbayomiUNSPECIFIED
Idowu, Ademolaaidowuaxiom@yahoo.com
Subjects: H Social Sciences > HC Economic History and Conditions > Environmental policy and economic development. Sustainable development. Environmental management
S Agriculture > S Agriculture (General) > Agriculture and the environment
Divisions: Universiti Teknologi MARA, Terengganu > Dungun Campus > Faculty of Business and Management
Journal or Publication Title: Terengganu International Management and Business Journal (TiMBeJ)
ISSN: 2232-0741
Volume: 5
Number: 1
Page Range: pp. 8-23
Official URL: http://timbej.uitm.edu.my/
Item ID: 18956
Uncontrolled Keywords: Agriculture sector; Nigerian business environment; Government policies least squares; regression.
Last Modified: 18 Dec 2018 04:39
Depositing User: Perpustakaan Cendekiawan UiTM Caw Terengganu
URI: http://ir.uitm.edu.my/id/eprint/18956

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