THE IMPACT OF MONETARY POLICY ON AGRICULTURAL GROWTH IN NIGERIA. (1981–2009).

ABSTRACT

The project titled “The Impact of Monetary Policy on Agricultural Growth in Nigeria between 1981 to 2009”. The main objectives of the study were to examine the impact of monetary policy on agricultural growth in Nigeria. Also to examine the relationship between monetary policy and agricultural growth in Nigeria. In analyzing the study, the researcher formulated null hypothesis (H0) stating that monetary policy has no significance impact on the agricultural sector growth in Nigeria. By estimating this study, the researcher adopted econometrics by applying Ordinary Least Squares (OLS) techniques. It was found out that monetary policy has significance impact on the agricultural sector growth in Nigeria. Hence, null hypothesis (Ho) was rejected and the alternative hypothesis (Hi) was accepted. The researcher therefore concluded that monetary policy is a significant policy measures in stimulating agricultural productivity in Nigeria. The researcher hereby recommends that the volume of credit and subsidies disburse to agricultural sector should be increased. Effort should be made to ensure that majority of farmers should be made to have cheap access to capital by relaxing the collateral charged by financial institutions to them. 

TABLE OF CONTENTS
Title page          i
Approval page         ii
Dedication         iii
Acknowledgment        iv
Abstract           v
Table of content         vi
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study       1
1.2 Statement of the Problem      5
1.3 Objectives of the Study      6
1.4 Hypothesis of the Study      7
1.5 Significant of the Study      7
1.6 Scope and Limitations of the Study    8
CHAPTER TWO
REVIEW OF THE RELATED LITERATURE
2.1 Theoretical Literature      9
2.1.1 Meaning of Monetary Policy     9
2.1.2 Conceptual Frame work of the Study   11
2.1.3 Reasons for Government policies The Financing
         of Agricultural       15
2.1.4 Overviews of the Government Monetary
         or Financial Policies in Nigeria.    19
2.1.5 Contributor of Agricultural to Economic
         Growth in Nigeria       26
2.1.6 Problem of Agricultural Development in
         Nigeria         30
2.2 Empirical Literature       32
2.3 Limitation of the Previous Studies    36
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 Research Methodology      38
3.2 Model Specification       39
3.3 Method of Evaluation      40
3.4 Data Required and Sources     43

CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS OF RESULT
4.1 The Empirical Results      45
4.2 Result of The Statistical Test Of Significance  46
4.3 Evaluation of the Working Hypothesis   49
4.4 Result of the Econometrics Test
     (Second Order Test)      50
4.5 Implication of the Results      51
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION
AND RECOMMENDATIONS
 5.1 Summary of findings      52
5.2   Conclusion        53
5.3 Recommendations       54
References        56
Appendix