ABSTRACT

The main purpose of this work is basically to investigate the impact of monetary policy on Nigerian Agricultural and Industrial development. The main objective of this study is • to examine some key measures adopted to stimulate agricultural and industrial growth. Relevant literature were reviewed so as to ascertain what other writers had said on the subject. Relevant data were collected from the CBN statistical bulletin and National Bureau of statistics annual report (NBS) Vol. 18. Regression analysis was used to test the hypotheses formulated. The ordinary least squares regression (OLS) method was employed using the data from 1998 to 2007 to explore the impact of monetary policy on the Nigerian Agricultural and Industrial Sectors. The result indicated that the monetary policy in the management of the Nigerian agriculture and industrial sector contributes for the development of Nigerian economy which variables are impacted on the GDP of Agriculture and industry. Based on the findings the study recommend that there is need for government policy on agriculture and industry to be cohesive with those on goods, other raw materials importation, food importation and sourcing locally importation of agro-base industrial raw materials again government should make a substantial investment in research and development to enhance the prosperity of the industrial sector and that the monetary authority should make favourable monetary policies that will increase the gross domestic product (Agricultural and Industrial sector)