Promotion of Non-Oil Export in Nigeria: Empirical Assessment of Agricultural Credit Guarantee Scheme Fund
Efobi, U Osabuohien, E.S. (2011) “Promotion of Non-Oil Export in Nigeria: Empirical Assessment of Agricultural Credit Guarantee Scheme Fund”, Current Research Journal of Economic Theory, Vol.3 (1), 20-28.
9 Pages Posted: 7 Dec 2013
Date Written: March 22, 2011
The Agricultural Credit Guarantee Scheme Fund (ACGSF) was established in 1977 with the aim of enhancing commercial banks’ loans to the agricultural sector in Nigeria with focus on agro-allied and agricultural production. Many years down the line, the country has witnessed poor participation in the international market with regards to non-oil export. The above stance was assessed with a view to establishing interaction between ACGSF and non-oil export using the Vector Auto-Regressive (VAR) technique. The study found, among others, that there exist a long-run relationship between the ACGSF and export, but the magnitude is minimal. It was therefore recommended, inter alia, that adequate infrastructural and storage facilities, which increase the shelf-life of agricultural outputs are needed to improve non-oil exports in Nigeria.
Keywords: agricultural credit, cointegration, financial institutions, non-oil Export, VAR
JEL Classification: F14, Q14
Suggested Citation: Suggested Citation