AGRICULTURE, ECONOMIC GROWTH AND DEVELOPMENT NEXUS: VAR VARIANCE DECOMPOSITION EVIDENCE FROM NIGERIA

This research paper empirically explored the Agriculture, Economic Growth and Development Nexus in Nigeria. The objective of the study is to examine the place of agriculture in the economic growth and development of Nigeria. The quantitative technique is employed in a multivariate model VAR model with emphasis on the Variance Decomposition Analysis with the aid of Eview 7. The study revealed that the sector has been neglected and the whole attention is paid on the crude oil which has caused dwindling of agricultural sector contributions to Economic growth. Realization of this, made the policy makers to commit huge resources and efforts to the sector lately in order to resuscitate it. The study finds out that efforts directed to resuscitate the sector have not translated commensurately to the desirable development of the sector as the positive change experienced in the sector is lopsided in favour of crop production.