An assessment on relationship of agricultural sub-sectors with GDP in Nigeria

Abstract

This study is majorly concentrated on the various agricultural subsectors in Nigeria, how the subsectors has influenced the economic growth of Nigeria using econometric procedure to estimate the parameters of the model, and also the various shortcomings encountered by the agricultural subsectors in Nigeria and possible solutions. It also emphasize on the sector that has been abandoned, whereas, the growing recognition is directed toward the major resources (crude oil) which generated diminishing returns in agriculture contributions in regards to the economic growth in Nigeria. Moreover, the paper emphasized on the relationship of agricultural sub-sectors with Gross Domestic Product (GDP) which the sub-sectors entails crop production, fishery, livestock and forestry. The Intention of this research presents the conclusion that the agricultural part is a concrete sector of the economy and cannot be underrated or trivialized seeing that agricultural sector output is important to economic activities in Nigeria. Therefore, the general growth of the country’s economy depends on the progress of agriculture. If there’s availability of credit facility to the agricultural sector, it will enhance the boosting of the country’s GDP and thereby causing growth in the economy. An additional objective of this paper attempts to carry maximum value for public officials and legislators.