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SUSTAINING AGRICULTURAL PRODUCTION IN A DEREGULATED ECONOMY

Ojo, M. O. and Balogun, E. D. and Evbuomwan, Grace O. (1993) SUSTAINING AGRICULTURAL PRODUCTION IN A DEREGULATED ECONOMY. CENTRAL BANK OF NIGERIA ECONOMIC AND FINANCIAL REVIEW, 31 (2). pp. 71-84.

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Abstract

This paper reuiews the policy framework for Nlgelian agriculture and gauges Its Impact plior to and since the commencement of economic deregulation. It investigates the prospects, analyses tile constraints and ouUlnes a feasible strategy for sustaining ag~icultural growth In a deregulated enabling environment. The paper notes that In the period, 1970 to 1982, the deterioration In ag~icultural pe1jormance In Nlge1ia was the result not only of extemal shocks and erwironmental and/or edaphfc foctors, but of distorted policy pursuits which created clislncentiues for farming. Howeuer, following attemptS to deregulate the economy with the adopUon of the Structural Adjustment Pl:o!P·amme In 1986 and the consequent eff01t to get price lncenUues right for agriculture, there was some Improvement in ag~icultural performance. It Is noted that agricultural sector growth has recently been lwmpered by increased costs 01ising mainly from genera/deregulation. An lnuestlgatlon of the resource base and prospects shows that ag~kulture can contlibute more to g~·owth than In recent years. But success wlll require engendering a conducive enabling environment and Incentives, avaliC!bility of technology and Inputs as well as Infrastructure. This calls for an oction plan which glues the prluate and Informal sectors bigger roles In the execution of development prog~·ammes. In addition, the public section would need to refocus current policies and priolitles with more uigorous implementation of known successful approoches based on factor endowments for stimulating growth.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Faculty of Medicine, Health and Life Sciences > School of Biological Sciences
Depositing User: Mrs Hannah Akinwumi
Date Deposited: 22 Feb 2018 08:40
Last Modified: 22 Feb 2018 08:49
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/10230

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