ABSTRACT
This research work tries to investigate the role of microfinance bank on agricultural development in Nigeria using Nigeria as a case study.
Using ordinary least square method, data collected were secondary dataand the durbin-watson t-statistics were used in the regression analysis. The study shows that Microfinance bank loans have a positive impact on agricultural development in Nigeria. Based on these findings some recommendations were made, interest rate should be reduce to encourage farmers in borrowing and The federal government should give a directive through microfinance bank that will encourage the farmers by giving them incentives. This will automatically increase the efficiency of farmers and thereby attract more youths to the agricultural sector.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
Nigeria is endowed with natural resources, large fertile farmland, wide range crops, and river amongst others. Despite its abundant natural resources it is faced with poor food situation. The poor food situation is traceable to the decline in the agricultural sector. The problem of feeding and provision of natural resources is increasing by the day. However several efforts are being made to improved the standard.
Prior to the discovery of petroleum in Nigeria agriculture used to be the highest foreign exchange resources earner and contribution to gross domestic product GDP has been estimated to about 62.63% in 1960, 48.08% in 1970s, and 20.63% in 1980. Recently due to the growing awareness of the role of agriculture, the various governments have intensified efforts aimed at transforming from its present subsistence level to a market oriented production. One of those efforts was the ban made on importation of agricultural products like palm oil, maize and rice. This was done to encourage improvements on our production standard.
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Item Type: Project Material | Attribute: 51 pages | Chapters: 1-5
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