The Role of Agricultural Credit Financing on Agricultural Output in Nigeria (1990–2022).
Publication Date: 01/05/2025
Author(s): Enenche Adoyi Wlliams, Agara A. Sarah, Paul Joseph.
Volume/Issue: Volume 8, Issue 2 (2025)
Page No: 35-47
Journal: African Journal of Economics and Sustainable Development (AJESD)
Abstract:
Agricultural credit finance is seen as the pathway to persistence increase in agricultural output. This study empirically investigates the role of agricultural credit financing on agricultural output in Nigeria from 1990 to 2022 using annual time series data. The study employed econometrics techniques such as Descriptive Statistics, Augmented Dickey - Fuller Unit Root Test, Granger Causality Test and Ordinary Least Squares Estimation Method of analysis. Results and findings shows that agricultural credit financing via commercial banks, government expenditures on agricultural sector, and agricultural credit guarantee scheme fund (ACGSF) has a positive significant effect on agricultural output and has contributed massively to the growth of agricultural output and productivity in Nigeria. it is therefore recommended that the government and monetary authority should formulate policies that will both increase and expand access to credits by farmers as it will further boast agricultural output thereby fostering sustainable economic growth and development in Nigeria
Keywords:
Agricultural Output, Commercial Banks Credit, Government Expenditures, Agricultural Credit Guarantee Scheme Fund, Economic Growth and Development.
