Agriculture and Economic Development in Nigeria (1970-2015)
This research work is on the impact of Agriculture on the Economic Growth of Nigeria (1970-2015). The objective of the research is to ascertain the contribution or impact of Agriculture to the Economic Development of Nigeria. Secondary method of data collection was used, data on agricultural sector output, commercial bank credit to the agricultural sector were collected from CBN statistical bulletin various issues. OLS method of multiple regression was used. The granger causality test shows that agricultural sector output granger causes GDP, in the same vein commercial bank credit granger causes agricultural sector output. It was also found out that Adjusted R-square is 98%, showing that these variables have positive impact on GDP, An increase in agricultural sector output causes GDP to rise by 98%, in the same vein a 1% increase in commercial bank credit to the agricultural sector causes GDP to rise by 98%. The DW statistics shows absence of auto- correlation.