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CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
By the time Nigeria became politically independent in October
1960,agriculture was the dominant sector of the economy, contributing
about 70% of the Gross Domestic Product (GDP) employing about the same
percentage of working population and accounting for about 90% of foreign
exchange earnings and the federal government revenue (CBN, 2005). The
early period of post-independence up until the mid-1970’s saw a rapid
growth of industrial capacity and output as the contribution of the
manufacturing sector to GDP rose from 4.8% to 8.2%. This pattern changed
when oil suddenly became of strategic importance to the world economy
though its supply price nexus.
Crude oil was first discovered in commercial quantity in Nigeria in
1956, while actual production started in 1958. It became the dominant
resources in the mid 1970’s. The massive increase in oil revenue as an
aftermath of the Middle East war of 1973 created and unprecedented,
unexpected and unplanned wealth of Nigeria. The relative attractiveness
of the urban centres made many able bodied Nigerians to migrate from
hinder land, abandoned their farm lands for the cities and hoping to
partake in the growing and prosperous (oil driven) urban economy. This
created social problems of congestion, provision, unemployment and
crimes.
Notwithstanding, the enviable position of the oil sector in the Nigerian
economy over the past three decades, the agricultural sector has
remained the largest and arguably the most important sector of the
economy. Agriculture contributes to the gross force in Nigeria
(Aigbokhan, 2001). It is estimated to be the largest contributor to the
non-oil foreign exchange. A strong agricultural sector is essential to
economy development both in its own rights and to stimulate and support
the growth of industries. Economy growth has gone hand in hand with
agricultural progress stagflation in agriculture is the principal
explanation for poor economy performance, while rising agricultural
activities has seen the most concomitant of successful industrialization
(Ukeje 1999). The labour-intensive character of the sector reduces its
contribution to the GDP. Nevertheless, agricultural exports are a major
earner of foreign exchange in Nigeria, in the non-oil sector.
Like in most developing countries, agriculture remains the backbone of
the Nigeria economy. Typically, it is the largest source of employment
often two-third or more of the population is dependent on this
livelihood on farming. Its is a well-known fact that Nigeria’s
comparative advantage in the production of
certain food and other agricultural commodities that can earn foreign
exchange for imports of other food.it has been recognised that sustained
agricultural development requires striking an appropriate balance
between investments that are directly productive in agriculture and
investment in infrastructure. Poor infrastructural services in
developing countries will lead to low productivity. Much of the high
productivity of agriculture in the developed countries is as a result of
massive form of investment over many years in physical and
institutional infrastructure (Manyong, et al, 2003).
Conversely, the low productivity of agriculture in many developing
countries reflects among other things, limited investment in rural roads
and electricity. This streams from the concentration of public
investments in urban areas, where the unit cost of providing services is
typically less and logistic are problems fewer.
1.1 STATEMENT OF THE PROBLEM
One of the constraints of the growth in Nigeria has been the slow
development of the agricultural sector. The performance of the sector
was undermined by the disincentives created by the macro-economic
environment. The economic stabilization Act enacted in 1982 affected
expenditure on agriculture and restricted income. Indeed, the
contribution of the sector to total GDP has been falling, not
necessarily because a strong industrial sector is displacing agriculture
as a result of low productivity. Emerging problem which constraint the
full realisation of the potentials in the agricultural sector includes
inadequacies in the supply and delivery of farm input, shortage of
working capital, low level of technology, diseases and pest infestation,
poor post-harvest processing and shortage, environmental hazard, labour
and land use constraint.
There is need to correct the existing structural distortions in Nigerian
agricultural sector and put the economy on the part of sustainable
growth. This study seeks to find answers to the following research
questions:
1) What role does the agricultural sector play in the development of economic growth in Nigeria?
1.2 Objectives of the study
The main objective of this study is to evaluate the role of the
agricultural sector as an accelerator for economic growth and
development in Nigeria. Specifically, this study aims to achieve the
following objectives:
1. To access the impact of the agricultural sector on the Nigerian economic growth.
1.3 STATEMENT OF HYPOTHESIS
H0: That Nigeria’s agricultural sector has not contributed significantly to the economic growth of the country.
1.4 SIGNIFICANCE OF THE STUDY
The significance of this study depends on the fact that with improved
economy, Nigeria stands to gain in its effects towards development. It
is advantageous to both the government and citizens; in the sense that
its serves as a guide for future governmental policy on agriculture and
when this is well implemented, we will notice that the welfare and
standards of living of the citizens will be improved.
1.5 SCOPE OF THE STUDY
This study examines the role of the agricultural sector in the economic
growth and development of Nigeria. The performance of Nigeria’s
agricultural sector since 1960 to 2011 shall be evaluated in detail as
well as effects of the government at revamping the sector examined.
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