Agricultural Funding and Net Export Nexus
Agricultural Funding and Net Export Nexus.
INTRODUCTION
The role of agricultural credit as a factor of production to facilitate economic growth and development as well as the need to appropriately channel credit to rural areas for economic development of the poor rural farmers cannot be over emphasized.
Support for agriculture is widely driven by both Government and the public sector, which has established institutional support in form of agricultural research, extension, commodity marketing, input supply, and land use legislation, to fast-track development of agriculture and rural economic empowerment (CBN, 2007).
Over the years, the inability of this sector to expand and as well contribute meaningfully to the growth of Nigerian economy was due to inadequate financing to improve on the situation that is, facilitating agricultural credit.
Also, the problem of rapid agricultural development in Nigeria indicates that efforts directed at achieving expanded economic base of the rural farmers were frustrated by the scarcity of and restrictive access to loanable fund.
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