The Role of Agriculture in the Nigerian Economy

CHAPTER TWO LITERATURE REVIEW In this chapter of the research work, the review of related literary works is presented under the following heading: ? Role of Agriculture in an Economy ? Importance of Agriculture ? Analysis of Selected Indicators of Agricultural Growth ? Agricultural Constraints ? Institutional Reforms ? major agricultural policies in Nigeria from 1960-2005 ? Macro-economic variables affecting economic growing ? Government expenditure ? Investment ? overseas investment ? The new Nigerian Agricultural Policy 2.0The role of agriculture in an economy It is important to first define the term-Agriculture before talking virtually the role of agriculture in the economy. Oxford (2000) defines agriculture as the apprehension or practise of farming. Anyanwu (1997) noted that agriculture involves the cultivation of land, bringing up and rearing of animals for the purpose of production of food for man, feed for animals and painful materials for industries. It involves cropping, livestock, forestry, and fishing, processing and marketing of these agricultural products.

Abayomi (1997), like many an(prenominal) other economists opined that in most developing countries, agriculture is both the main traditional pursuit and the key to sustained growth of the modern economy. She noted that economic growth has gone debate in hand with agricultural progress; stagnation in agriculture is the principal explanation for poor economic performance, man rising agricultural productivity has been the most important incident of successful industrialization. Among the roles conventionally ascribed to the agricultural sector in a growing economy are those of: providing adequate food for an change magnitude population; supplying raw materials to a growing industrial sector; constituting the major source of employment; earning foreign transposition through commodity exports, and providing market for the products of the industrial sector.... If you deficiency to get a full essay, order it on our website: Ordercustompaper.com

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