Agricultural Sector Performance and Unemployment rate: evidence from Nigeria
Abstract
This study examined the effect of agricultural sector performance on unemployment rate in Nigeria over the period of forty-three (43) years (1981 to 2023). Agricultural sector performance was proxied by crop production, livestock production, forestry production and fishing production while unemployment rate was the dependent variable. The study utilized time series data and the data were sourced from World Bank Indicators (WDI) of the World Bank, Central Bank of Nigeria (CBN) statistical bulletin and National Bureau of Statistics (NBS) reports. The technique of data analysis adopted include: descriptive statistical technique, Augmented Dickey-Fuller (ADF) of unit root test, correlation matrix of multicollinearity test, and Autoregressive Distributive Lag (ARDL) approach. The findings of the study showed that crop production, livestock production and fishing production have negative and significant effect on unemployment rate in Nigeria. Also, forestry production has a negative and non-significant effect on unemployment rate in Nigeria. Premised on the findings, the study concluded that agricultural sector performance significantly influences unemployment rate in Nigeria. The study therefore, recommends that the government and private sector should prioritize investments in agricultural infrastructure, including irrigation systems, rural roads, storage facilities, and processing plants to boast production capacities thereby reducing unemployment in the country.
Keywords
Unemployment rate
crop production
livestock production
forestry production
fishing production
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