ISSN – PRINT:2756-4495 | ONLINE: 2756-4487
Volume 04, Issue 03 – 2024
Simeon Oamen Obode
The study empirically assesses the impact of financial deepening on Agricultural sector in Nigeria using time series data from 1990 to 2023. Growth in Agriculture was used to represent Agricultural sector while financial deepening indicators were financial access, financial depth and financial efficiency. Auto regressive distributed lag (ARDL) was used to estimate the models. The empirical result shows while financial access had positive and significant influence on the growth in Agriculture, financial depth was negative and significant, and financial efficiency was positive and insignificant to growth in the sector during the period of study. The study concludes that financial deepening has positive effect on growth in the agricultural sector within the reviewed period. In light of the empirical findings, the following recommendations were made: that CBN should implement policies geared towards enhancing financial inclusion to enable Nigeria citizens and prospective farmers to have easy access to affordable financial services and also to encourage commercial banks to increase credit facilities to both farmers and private sector so as to increase Agricultural production in the Nigerian economy.
Keywords: Agriculture; Nigerian economy; financial inclusion; farmers
Volume 01, Issue 02
Volume 01, Issue 01