Journal of
Economics and International Finance

  • Abbreviation: J. Econ. Int. Finance
  • Language: English
  • ISSN: 2006-9812
  • DOI: 10.5897/JEIF
  • Start Year: 2009
  • Published Articles: 352

Article in Press

Impact Analysis of Budgetary Allocation on Nigerian Agricultural Sector Performance

Oserei, M.K., Abdulquadri, A.F., Mohammed, B.T. and Daramola, R.B.

  •  Received: 21 April 2021
  •  Accepted: 03 February 2022
Budgetary allocations remained a veritable tool for curbing food insecurity, boosting agricultural productivity through mechanization, enhancing research & development, generating employment and poverty reduction in the Nigeria. Given this relative importance, it is pertinent to investigate the impact analysis of budgetary allocation on the Nigerian agricultural sector performance. A critical reviewed of the graphical trend of budgetary allocations to the agricultural sector for the period covered (2008-2018) shows that the overall average expenditure on the agricultural sector is approximately 2 percent of total expenditure. Also the OLS regression results shows that budget allocation to the sector is insignificant and relative low in boosting the Nigerian agricultural sector output. These allocations contrast dramatically with the sector’s relevance in curbing food insecurity, employment generation and poverty reduction. This falls below the African Union Maputo declaration and FAO recommendation of 10% and 25%. Therefore, the study recommends that government at all levels should pursue a joint and sustained budgetary allocation framework that will promote inclusive growth and sustainable development of the Nigerian economy.

Keywords: Agricultural Sector,Budgetary Allocation, Budget, Performance of Nigerian Agricultural sector.