Impact of Development Banks Agricultural Financing on Economic Growth of Nigeria

Impact of Development Banks Agricultural Financing on Economic Growth of Nigeria.

ABSTRACT

The significant role agriculture plays cannot be underestimated in any nation. Apart from being the source of feeding of the populace, it also account for the source of income for other developmental activities.

It is in line with these its fundamental role that this study make a giant stride to assess the contribution of Nigerian Agricultural Co-operation and Rural Development Bank to the development of this important sector viz-a-viz the economic growth.

The main objective is to ascertain whether the bank which was purposely set up for the financing of agricultural activities in Nigeria has actually fulfilled the object.

Multiple regression is used as a tool of analysis for the study. It was found that the bank has not lived up to expectation in funding the agricultural activities in Nigeria.

The aim of setting up the bank is therefore not attained because of bureaucracy that engulfed the whole procedures and process in its operation.

It was recommended that government should intensify effort to ensure there is adequate monitoring of the operation of the said bank so that they actually fund the project that it was set up for.

TABLE OF CONTENT

Title Page – – – – – – – – – – i

Declaration – – – – – – – – – – ii

Certification – – – – – – – – – iii

Dedication – – – – – – – – – – iv

Acknowledgement – – – – – – – – – v

Abstract – – – – – – – – – – vi

Table of Contents – – – – – – – – – viii

CHAPTER ONE: INTRODUCTION

1.1 Background of the study – – – – – – – 1

1.2 Statement of the Problem – – – – – – 5

1.3 Objectives of the study – – – – – – – 8

1.4 Research Hypotheses – – – – – – – 9

1.5 Scope of the study – – – – – – – – 9

1.6 Significance of the study – – – – – – – 10

CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction- – – – – – – – – 12

2.2 Historical Development of Banking in Nigeria – – – 12

2.3 Development Banking – – – – – – – 15

2.4 Community Banking – – – – – – – 17

2.5 Regulatory Framework of Nigeria Banking System – – – 19

2.6 Development of Nigerian Agricultural Co-operation and Rural Development Bank – – – – – – – 28

2.7 Issues on Economic Development – – – – – 29

2.8 Nigerian Women in Agricultural and Economic Development – 34

2.9 Agricultural Sector and Nigeria’s Development – – – 37

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction – – – – – – – – 47

3.2 Research Design – – – – – – – – 47

3.3 Population and Sampling Techniques – – – – – 47

3.4 Methods of Data Collection – – – – – – 48

3.5 Techniques of Data Analysis – – – – – – 48

3.6 Justification of Methods Used in this Study – – – – 50

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA

4.1 Introduction- – – – – – – – – 51

4.2 Data Presentation – – – – – – – – 51

4.3 Presentation and Analysis of Result – – – – – 52

4.4 Analysis of Coefficient of Determination – – – – 55

4.5 Discussion of Results – – – – – – – 59

CHAPTER FIVE: SUMMARY, CONCLUSIONS & RECOMMENDATIONS

5.1 Summary – – – – – – – – – 60

5.2 Conclusions – – – – – – – – – 62

5.3 Recommendations- – – – – – – – 63

5.4 Limitation of the Study – – – – – – – 66

5.5 Areas for Further Research – – – – – – 67

Bibliography- – – – – – – – – 68

Appendixes – – – – –

INTRODUCTION

Prior to 1980 in Nigeria as well as in many developing countries, successive governments have implemented various agricultural and rural development policies, all in an effort to address perceived shortfall in rural credit, stimulate rural employment and enhance agricultural productivity.

Under these rural credit schemes, institutional resources, programme efforts and government agencies – based top – bottom interventions, to implement mostly supply-led financial development strategies.

That is the channeling of government funds to rural entrepreneurs and small farmers to enhance the contribution of agriculture to economic development (Yaron, 1992).

The above aim prompted the government in Nigeria to establish the defunct Agricultural and Co-operative Bank (NACB). The objective of NACB is to finance agricultural project through loans to farmers.

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StudentsandScholarship Team.