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DETERMINANTS OF AGRICULTURAL OUTPUT IN NIGERIA
ABSTRACT
The study examined the determinants of agricultural output in Nigeria from 1985-2016. It employs the econometric techniques of co-integration test and ECM approach to analyze the data obtained from the CBN statistical bulletin. The Augumented Dickey Fuller unit root test results showed that all the variables were stationary at first difference.
The Johansen co-integration test results showed that co-integrating equations exist which fit the model for the ECM. Meanwhile, the ECM results showed that; government funding in agriculture is positively and significantly related to agricultural output, agriculture credit has positive and significant impact on agricultural output. Also, climate change has a positive and significant effect on agricultural output. The findings from the study showed that agricultural funding; agricultural credits as well as climate change are key determinants of agricultural output in Nigeria. Based on these findings, the study recommends amongst others that there should be increase infrastructural funding in the yearly budget in order to provide infrastructural facilities to the rural areas where bulk of farm products are produced. Also, credit to the agricultural sector via the rural farmers should be encouraged.
KEY WORDS: Determinants, Agricultural Output, Credit, Funding, Climate Change