Boosting agricultural productivity through financing and marketing of green economy in Nigeria

Aniekan J. Akpaeti, Udoro J. Udo and Nsikan E. Bassey

Nigerian Journal of Agricultural Economics, 2015, vol. 05, issue 01

Abstract: A Green Economy can be considered as an alternative vision for growth and development; one that can generate growth and improvement in people’s lives in ways consistent with sustainable development. To drive this vision, the role of finance cannot be over-emphasized since no tangible investment can be done without funds. This paper therefore assesses the impact of financing and marketing on agricultural productivity through the development of green economy in Nigeria. Using secondary data from Central Bank of Nigeria; food and agricultural organization covering 1970-2010 and employing co-integration, error correction and Granger Causality test techniques, the study found a positive and significant long run relationship between agricultural productivity (ARGDP), commercial bank credit to agriculture (CAG), total government expenditure on agriculture (TEA), consumer price index (CPI) and agriculture population (APOP) as well as a uni-Granger causality from TEA to ARGDP, CAG to TEA, CPI to APOP and TEA to APOP. It is recommended that concerted effort by all stakeholders are required to steer green agriculture on a sustainable production and productivity pathway through mobilization of funds and provision of an environmentally friendly alternative for Nigeria’s transition from a mono economy to a diversified green economy for effective and efficient use of resources by present and future generation for sustainable development.

Keywords: Agricultural Finance; Environmental Economics and Policy; Marketing; Production Economics (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ags:naaenj:267808

DOI: 10.22004/ag.econ.267808

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