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Contribution of Foreign Direct Investment to Agricultural Productivity in Nigeria

Author

Listed:
  • Edewor, S. E.
  • Dipeolu, A.O.
  • Ashaolu O. F.
  • Akinbode, S.O.
  • Ogbe, A. O.
  • Edewor, A.O.
  • Tolorunju, E. T.
  • Oladeji S.O.

Abstract

Over the past few years, Nigeria has been faced with a series of policy changes and political instability that has somewhat led to the incidence of capital flight from Nigeria. This study sought to examine the contribution of Foreign Direct Investment (FDI) into the Agricultural Sector. The study made use of annual time series of some macroeconomic variables and agricultural productivity spanning the period 1990 to 2016. The data was analysed using descriptive statistics and Multiple Regression Model. The data was further tested for stationarity using the Augmented Dicky-Fuller unit root test where it was ascertained that the entire hypothesized variable were stationary were significant(p<0.01) at first difference. The study revealed that the amount allocated to agricultural sector declined steadily over the years with all-time highest in the 90's. Similarly, the determinants of agricultural productivity include exchange rate, interest rates, GDP and FDI inflow into the agricultural sector. The study therefore recommends that an enabling environment be created through stable macroeconomic policies (monitoring of interest and exchange rates) and political stability be promoted so as to attract both domestic and foreign investors to the country.

Suggested Citation

  • Edewor, S. E. & Dipeolu, A.O. & Ashaolu O. F. & Akinbode, S.O. & Ogbe, A. O. & Edewor, A.O. & Tolorunju, E. T. & Oladeji S.O., 2017. "Contribution of Foreign Direct Investment to Agricultural Productivity in Nigeria," 2017 Annual NAAE Conference, October 16-19, Abeokuta, Nigeria 288322, Nigerian Association of Agricultural Economists.
  • Handle: RePEc:ags:naae17:288322
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    Keywords

    Agricultural and Food Policy; Productivity Analysis;

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