Agricultural financing and economic growth in Nigeria: implications for sustainable agricultural development

Authors

  • Olaide Kamila Akintunde 1Department of Agricultural Economics and Agribusiness Management, College of Agricul-ture, Osun State University, Osogbo, Nigeria
  • Kaothar Modupe Idris-Adeniyi 2Department of Agricultural Extension and Rural Development, College of Agriculture, Osun State University, Osogbo, Nigeria
  • Khadijat Olaitan Olanrewaju 2Department of Agricultural Extension and Rural Development, College of Agriculture, Osun State University, Osogbo, Nigeria
  • Adeleke Sabitu Coster 3Department of Agricultural Economics and Farm Management, College of Agricultural Management and Rural Development, Federal University of Agriculture, Abeokuta, Nigeria

DOI:

https://doi.org/10.59658/jkas.v12i1.3240

Keywords:

Agriculture, credit, sustainability, GDP, Error correction model

Abstract

The significance of agricultural financing for sustainable agricultural and financial improvement in emerging economy like Nigeria cannot be over emphasized. This re-search work analyzed the impact of rural financing on financial sustainability in Nigeria. The dataset is time series information variables spreading a 40 year period, from 1981 to 2020. Annual aggregates data on capital expenditure, agricultural credit, ex-port loans, and gross domestic product (GDP) were sourced from the distributions of Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS). The research was conducted in 2023 and data sets were analyzed using Unit Root test, Cointegration test, and error correction model. Results revealed that agricultural credit, export financing, and capital expenditure affect GDP positively in Nigeria. Therefore, there is need for policy formulation and implementation on arrangement of satisfactory funding facilities to agricultural production and export sector with moderate interest rates at a minimal cost of capital. Government should also embark on massive infra-structural development in order to enhance sustainable financial growth and development.

Downloads

Published

03/15/2025

How to Cite

Akintunde, O. K. ., Idris-Adeniyi, K. M., Olanrewaju, K. O. ., & Coster, A. S. . (2025). Agricultural financing and economic growth in Nigeria: implications for sustainable agricultural development. Journal of Kerbala for Agricultural Sciences, 12(1), 61–72. https://doi.org/10.59658/jkas.v12i1.3240

Issue

Vol. 12 No. 1 (2025): volume 12 issue 1 year 2025

Section

Articles

License

Copyright (c) 2025 Copyright (c) 2024 is the Author's article. Published by the Journal of Kerbala for Agricultural Sciences under a CC BY 4.0 license

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Licensing Terms

All articles are published under a Creative Commons License and will be directed to the  Creative Commons Attribution 4.0 International License (CC BY 4.0) That permits use, distribution, and reproduction in any medium, provided the original work is properly cited. This license also allows the work to be used for commercial purposes.

Use by both non-commercial and commercial  users

This content is licensed under a Creative Commons Attribution 4.0 International (CC BY 4.0) license, permitting use by both non-commercial and commercial users. Individual users may access, download, copy, display, and redistribute the articles to colleagues, as well as adapt, translate, and text- and data-mine the content, subject to the following conditions:

  • The author's moral rights, including the right of attribution and the right to protect their work from derogatory treatment, are respected.
  • Where content in the article is identified as belonging to a third party, users must ensure that any reuse complies with the copyright policies of the owner of that content.
  • If the article content is reused for research or educational purposes, users should maintain a link to the appropriate bibliographic citation, including the DOI and a link to the published version on the journal's website.