Influence Of Federal Government Budget Allocation To Agricultural Sector On Economic Growth Of Nigeria

ABSTRACT

The study investigated the influence of Federal Government budget allocation to the agricultural sector on economic growth of Nigeria using time series data from 2000 to 2016. The time series data adopted in the study were generated from the Central Bank of Nigeria annual statistical bulletin, 2016. The ordinary least square of multiple regression was used for the analysis. The results showed that the influence of Federal Government budget allocation to the agricultural sector was positive and significant. Based on the findings, the study concluded that Federal Government budget allocation to the agricultural sector is crucial to economic growth of Nigeria. Hence, it was recommended among other things that Government needs to increase its allocation to the priority sectors, especially the agricultural sector of the economy so as to spur productive activities in the country. 

TABLE OF CONTENTS

Title Page ﾿ i

Dedication ﾿ ii

Acknowledgements ﾿ iii

Declaration ﾿ iv

Certification ﾿ v

Table of Contents ﾿ vi

List of Tables ﾿ viii

Abstract ﾿ ix

CHAPTER ONE: INTRODUCTION

1.1 ﾿ Background to the Study ﾿ 1

1.2. ﾿ Statement of the Problem ﾿ 4

1.3. ﾿ Objectives of the Study ﾿ 5

1.4. ﾿ Research Questions ﾿ 5

1.5. ﾿ Research Hypotheses ﾿ 5

1.6. ﾿ Significance of the Study ﾿ 6

 1.7. ﾿ Scope of the Study ﾿ 7

1.8 ﾿ Limitation of the Study ﾿ 7

1.9 ﾿ Definition of Terms ﾿ 7

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 ﾿ Conceptual Framework ﾿ 9

2.1.1. ﾿ Concept of Budget Allocation and Economic Growth ﾿ 9

2.1.2 ﾿ Government Efforts on Agricultural Development in Nigeria ﾿ 12

2.1.3Importance of Budgetary Allocations ﾿ 14

2.1.4. ﾿ Importance of Agriculture Sector to Economic growth of Nigeria ﾿ 15

2.1.5. ﾿ Budget Allocations and Implications on Agricultural Development

in Nigeria ﾿ 17

2.1.6. ﾿ Types of Budget ﾿ 19

2.2. ﾿ Theoretical Framework ﾿ 22

2.2.1. ﾿ Neoclassical Theory ﾿ 22

2.2.2 ﾿ Keynesian Theory ﾿ 22

2.3 ﾿ Empirical Review ﾿ 25

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 ﾿ Research Design ﾿ 34

3.2 ﾿ Sources of Data ﾿ 34

3.3. ﾿ Validity and Reliability of Research Instrument ﾿ 34

3.4. ﾿ Model Specification ﾿ 35

3.4.1. ﾿ Description of Variables ﾿ 36

3.5. ﾿ Analytical Techniques ﾿ 36

CHAPTER FOUR: PRESENTATION OF DATA, ANALYSIS AND DISCUSSION

4.1 ﾿ Presentation of Data ﾿ 37

4.1.1 ﾿ Trend analysis ﾿ 38

4.2 ﾿ Analysis of the influence of Federal Government budget allocation 

to agricultural sector on economic growth of Nigeria. ﾿ 41

4.2.1 ﾿ Regression analysis ﾿ 41

4.2.2 ﾿ Test of hypotheses ﾿ 42

4.2.3 ﾿ Discussion of findings ﾿ 43

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1 Summary of Findings ﾿ 44

5.2 Conclusions ﾿ 44

5.3. Recommendations ﾿ 45

﾿ References

﾿ Appendix