Effect of Agriculture on Poverty Reduction in Nigeria: A Multifaceted Approach Using Principal Component Analysis
Journal Title: IOSR Journal of Humanities and Social Science - Year 2018, Vol 23, Issue 6
Abstract
This study examined the effect of agriculture on poverty reduction in Nigeria. These were with the view to examining the relative effectiveness of crop production, livestock farming, forestry and fishery on poverty reduction in Nigeria. Annual data over the period of 1981 to 2014, sourced from the World Bank Development Indicators and the Central Bank of Nigeria (CBN) Statistical Bulletin was used for the study. Time series econometrics (Principal Component Analysis and Vector Error Correction Model) was applied to generate poverty index, and the interaction among the variables respectively. The result of the variance decomposition established that a shock on Crop production, Livestock rearing, Forestry and Fishery respectively have significant and lasting impact on poverty reduction long into the future. The paper recommends that strengthening the agriculture sector especially crop production with fertilizer, improved seedling, training of farmers and dredging of dams to aid dry season farming are viable policy decisions that could inject a sustained drive for poverty reduction.
Authors and Affiliations
Messiah Abaka John, Maryam Ubale Dankawu
Keywords
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- EP ID EP419341
- DOI 10.9790/0837-2306093543.
- Views 70
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