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COMMERCIAL BANK CREDIT AND AGRICULTURAL OUTPUT IN NIGERIA

ABSTRACT

This research examined the impact of the commercial bank credit for agricultural production in Nigeria using macroeconomic variables (bank credit to commercial and agricultural output). The overall objective of the study is to examine the extent to which the commercial bank credit had supported agricultural production Nigeria. The specific objectives are: (i) to determine the impact of commercial bank credit for agricultural production in Nigeria, and (i) to determine the impact of agricultural production on economic growth in Nigeria. The methodology adopted for the study was ordinary least squares (OLS) involving t-test of the student, to test the significance of the individual parameter estimate, the F-test, to test the significance of the regression plane whole, adjusted R2 and R2 to test the joint influence of the explanatory variables on the dependent variable. Finally, Durbin-Watson statistics (DW) was used to verify the presence or absence of serial correlation data. After the regression, the result shows that: firstly, agricultural production and the commercial bank credit to agriculture and the real interest rate have contributed to economic growth in Nigeria. Second, there is general agreement that Nigeria agricultural sector is severely underfunded. Finally, the share of actual expenditures that went to the agricultural sector compared to negative actions that have gone to other sectors. Based on the above results, the researcher made the fluids suggestions: There is the need to improve the monitoring system of public expenditure in the agricultural sector. There is also the need to clarify the roles of the three levels of government in the provision of agricultural services. There is a need for applied research focused on priority issues

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