Impact of Investment in Agriculture on Economic Growth in Nigeria

Abstract

This research analyzed the impact of investment in agriculture on economic growth in Nigeria from 1981 to 2021. Using secondary data from the National Bureau of Statistics, the autoregressive distributive lag (ARDL) model was adopted for data analysis. The results show a long-run relationship among the variables, with crop productivity being a substantial predictor of investment in agriculture. Livestock exhibited a negative connection. The research also employed the error correction version of ARDL to examine the pace of adjustment from short-run disequilibrium to long-run stability. The report suggests supporting agricultural sector growth by encouraging investment in crop and fisheries production, minimizing food import dependency for food security, and prioritizing long-term strategies for sustainable economic growth.