Agricultural Credit and Economic Growth in Nigeria: An Empirical Analysis

In most developing countries, agriculture is both the main sector that provides employment to large segments of the population and the key to sustained economic growth of the countries. In the light of this, the study presents an empirical analysis of the impact of agriculture credit on economic growth in Nigeria. Equally highlighted are the problems of agricultural production in Nigeria and the strategies for agricultural transformation of the economy. A review of the various policies of the government was discussed. Our finding revealed that agricultural variables have impact on economic growth and their contribution to export growth has been encouraging. Consequently, the macro-econometric model in this study contributes to the development of policy and programming by shedding light on the choice to be made and indicating the magnitude and direction of responses that can be expected from changes in key agricultural policy.