Impact of Fiscal Policy on Agricultural Output in Nigeria

Adedoyin Lawal (), Ernest Fidelis (), Abiola Babajide (), Barnabas Obasaju (), Oluwatoyese Oyetade (), Bukola Lawal-Adedoyin (), John Ojeka () and Oluwatosin Olaniru ()
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Adedoyin Lawal: Department of Accounting and Finance Landmark University Nigeria, Postal: NG
Ernest Fidelis: Department of Accounting and Finance Landmark University Nigeria, Postal: NG
Abiola Babajide: Department of Banking and Finance Covenant Univeristy Nigeria, Postal: NG
Barnabas Obasaju: Department of Economics Landmark University Nigeria, Postal: NG
Oluwatoyese Oyetade: Department of Economics Landmark University Nigeria, Postal: NG
Bukola Lawal-Adedoyin: Centre for System and Information Services Landmark Univerity Nigeria, Postal: NG
John Ojeka: College of Business and Social Sciences Landmark University Nigeria, Postal: NG
Oluwatosin Olaniru: Department of Public Administration The Polytechnic Ibadan, Postal: NG

Journal of Advanced Research in Management, 2018, vol. 9, issue 7, 1428-1442

Abstract: This study examines the impact of fiscal policy on agricultural output in Nigeria using the most recent official data The metrics for fiscal policy is government capital expenditure and custom duties on fertilizer The study used annual time series data obtained from CBN annual statistical bulletin NCS and FIRS which was found to be stationary at the order of I 1 and I 0 The order of unit root test led to the use of ARDL estimation method employed in the empirical analysis of this research work The study found evidence of both short and long run relationship between the variables VAO GEX IDMF and ACGSF using both Johansen co integration and ARDL Bounds test Although government expenditure GEX to agricultural sector was found to be statistically insignificant which recommend that government should increase agriculture capital expenditure to ensure that its contribution is significant Consequently custom duties on fertilizer IDMF was found to be negatively signed and significant indicating a negative impact on agricultural output This demands that the policy makers should be prudent in the use of fiscal policy instrument in achieving its desired objective

Date: 2018
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