The sector is being transformed by commercialization at the small, medium. Fmard has the mandate to ensure food security in crop, livestock and fisheries, stimulate agricultural employment and services, promote the production and supply of raw materials to agro industries. The study covered the key issues on nigerian agricultural policies especially as it concerned the formulation and. The feed the future nigeria agricultural policy project is a five year initiative funded by the nigeria mission of the united states agency for international development usaid, and implemented jointly by michigan state university msu and the international food policy research institute ifpri. Chu liming, wen qiuliang, lin zechang and fang yaming. Impact of fiscal policy on agricultural output in nigeria. The study examines the impact of monetary policy variables on the. The potential of agriculture for propelling nigerias economic development was recognized by the colonial government when policies were put in. The result show that the government expenditure exerts a negative influence on the economy while government revenue affects the economy positively. Monetary and fi scal policies effect on agricultural growth. Impact of fiscal policy on nigeria economic growth within the period of 19812016. Fiscal policies these are government measures designed to influence the quantum and allocation of revenue and expenditure with the aim to achieving internal and external economic balance, as well as sustainable development. Economic outlook 3 contents theme 1 oil prices still lower for longer theme 2 economy growth gets a boost from high oil prices theme 3 inflation declines sharply, driven mainly by base effects. Despite the predominance of the oil and gas sector in.
A description of key public policies and reforms that have shaped the agricultural sector in nigeria in. For further information on the project, please see the project brochure pdf. Doc fiscal policy and agricultural development in nigeria. The structure of the nigerian economy is typical of an underdeveloped country. Pdf the study aims to describe the impact of fiscal policy on the. Impact of fiscal policy on agricultural output in nigeria journal of.
In the medium and long term, fiscal policy also plays a. Introduction to the agricultural promotion policy app 4. Thegreenalternative federal ministry of agriculture. Several macroeconomic policies have been used in nigeria, which have. For optimum results, fiscal policy must have a handshake with monetary. This study investigated the effect of fiscal policy on economic growth in nigeria.
Agricultural development intervention programmes in nigeria 1960 to date. Pdf impact of fiscal policy on agricultural output in nigeria. Central bank of nigeria annual report2011 119 igerias fiscal policy thrust in 2011 was to ensure fiscal consolidation, improve physical infrastructure, boost employment generation, and foster inclusive. Data that used were panel data of city and regencies in 20042009. The study aims to describe the impact of fiscal policy on the agricultural development in cities and regencies of south sulawesi. Legal and policy framework for stimulating growth in nigerias agricultural sector december 31, 2015.
Agricultural policies in developing countries exchange rates, prices, and taxation increased production of food and cash crops and higher rural incomes have been important objectives for governments of. Zimbabwe has given fiscal policy the biggest role in economic stimulus given the multicurrency regime which has limited the role of monetary policy. The study aim at examining the policy instrument that will encourage research and technological advancement and agricultural extension services. Also, in 2011, the agricultural sector performed below the projected 7. With different types of ecological belts, farming can be easily practiced from the dense rainforest belt of the south to the. Fiscalmonetary policy and economic growth in nigeria. An empirical trend analysis onyemaechi joseph onwe, ph. The main objective is to analysis how various components of fiscal policy have contributed to the growth. Chinas fiscal poverty alleviation policy and management. Lessons from agricultural policies and programmes in nigeria.
The components of fiscal policy and investment were also treated in this section. The choice of the period is as a result of data availability and thus, helps to capture the various fiscal regimes under the different government regimes experienced in nigeria. The impact of fiscal policy on the nigerian economy, 41. The researcher, therefore, conclude that tax revenue can be an instrument of economic development in nigeria. The major aim of this study is to determine the impact of fiscal policy on the economic growth of nigeria over the period 1981 2016. This study examines the impact of fiscal policy on agricultural output in nigeria using the most recent official data. The impact of government policies on agricultural productivity and structure. The study aims at examining the trend in fiscal and agricultural policy overtime. Macroeconomic policy and agricultural output in nigeria. In an effort to tackle these serious problems, government initiated a number of agricultural policies, programmes and projects, largely within the framework of three successive rational development plans from 1970 to 1974, from 1975 to 1980 and from 1981 to 1985. This research work assesses the impact of agricultural policies on nigerian economy. Fiscal policy, measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Agriculture in nigeria is a branch of the economy in nigeria, providing employment for about 30% of the population as of 2010.
Pdf this study examines the impact of fiscal policy on agricultural output in. Download the full project work below in an doc editable format. The effect of fiscal policy on economic growth in nigeria. The impact of fiscal and monetary policy on nigerian. Nigeria, agricultural sector still remains source of economic resilience in the nigerian economy. Between 2011 and 2012, the primary sector, in particular the oil and gas sector, dominated gdp, accounting for over 95 per cent. For example, there is no specific or identifiable economic growth or development in nigeria and this questions the possibility of the policy ever bringing the countrys economy to its optimum and desired. The various tools of fiscal policy such as budget, taxation, public expenditure, public works and public debt. Problems of agricultural development in nigeria legit. This article aims at determining the impact of various components of fiscal policy on the nigerian economy. Implications for food security and sustain the sector to play this assigned role with special emphasis on the. Problems of agricultural development in nigeria and solutions are very easy and complex at the same time.
Members of the research group of finance department. Development strategy for nigeria shaping policy for. Federal republic of nigeria implementation of the sdgs. Impact of fiscal policy on nigeria economic growth 19812016. Legal and policy framework for stimulating growth in nigerias agricultural sector. Impact of fiscal policy on agricultural output in nigeria article pdf available in journal of environmental management and tourism volume ix,winter73108. An econometric investigation abubakar risk of overheating. This study investigated the impact of fiscal and monetary policy on nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in. Our paper begins with a consideration of the causal. The metrics for fiscal policy is government capital expenditure and custom duties on. Fiscal policy, autonomy region, agricultural development jel. Impact of fiscal policy on the agricultural development in. The study is aimed at examining the relationship between fiscal policy and agricultural sector development. In nigeria, the development of agricultural policy for some years back has been based on the understanding that agriculture is the only panacea to the achievement of an inclusive growth due to its inward linkages.
This study of fiscal policy on agriculture development. Fiscal policy and agricultural development in nigeria abstract several macroeconomic policies have been used in nigeria, which have directly and indirectly influenced agriculture output. Fiscal policy involves the use of government public expenditure and taxes to regulate the economy. Pdf impact of fiscal policy on agricultural output in. Role of fiscal policy in economic development of under developed countries. Agricultural policies and programmes in the colonial era.
We simply used descriptive statistics to show contribution of government fiscal. International journal of development and economic sustainability vol. In the same vein but covering a shorter period, adeoye 2006. Agricultural development intervention programmes in. App agricultural promotion policy arc annual rate of change. Several macroeconomic policies have been used in nigeria, which have directly and indirectly influenced agriculture output growth. Pdf impact of fiscal policy on the agricultural development in an. Fiscal policy and agricultural development in nigeria abstract several macroeconomic policies have been used in nigeria, which have directly and indirectly influenced agriculture output growth. Government fiscal policy and agricultural sector outputs in nigeria.
285 480 710 1527 630 573 1486 1292 428 404 1076 318 415 115 612 1217 481 749 435 121 367 269 263 1482 1048 801 37 896 760 92 1307 427 947 853 1260 273 1330 838 893 286 1125