An Econometric Analysis of the Effect of Agricultural Funding on Selected Tuber Crops Output in Nigeria (1999 -2020)

Abstract

This study determined the influence of agricultural funding on selected tuber crops output in Nigeria within the period 1999-2020. The study adopted ex-post factor research design and relied on time series data. Pre and post -estimation diagnostics tests were adopted to check for reliability of the data used. The regression results showed that Agricultural Credit Guaranteed Scheme Fund (ACGSF) (-2.456020), had a negative and significant influence on Cassava production (CSVPD), Bank of Industry (BOI) (-0.023170) had a negative and significant influence on Cassava production (CSVPD), while Bank of Agriculture (BOA) (0.014092) had a positive and significant influence on cassava production (CSVPD). Bank of Industry (BOI) (-0.038446), International fund for Agriculture Development (IFAD) (-0.248212) and Public recurrent expenditure to agriculture (PREXPA) (-187.3435) all had negative and significant relationship with yam production during the period under study. On the other hand, Agricultural Credit Guaranteed Scheme Fund (ACGSF) (1.068221) and Public Capital Expenditure to Agriculture (PCEXPA) (79.71212) did have a positive and significant influence on yam output. Public Capital Expenditure to agriculture (PCEXPA) (1.477366) and public recurrent expenditure to agriculture (PREXPA) (6.558832) had significant and positive relationship with potato production. The study concluded that the agricultural funding schemes have not been properly maximized to boost tuber crop production and sustainability, and recommended that Agricultural Credit Guaranteed Scheme Fund (ACGSF) and Bank of Industry (BOI) funding should be given attention with regards to cassava production and Bank of Industry (BOI), International fund for Agriculture Development (IFAD) and Public recurrent expenditure to agriculture (PREXPA) should be properly managed with regard to yam production so they can have positive influence on the output of yam in the country.

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