Statistical study of the effect of agricultural loans on farming activities

Description

Abstract

Statistical study of the effect of agricultural loans on farming activities. It is commonly said that money is the life wire of any business, agriculture by every standard, qualifies as a business venture. One can summit that agricultural credit is financial resources made available to farmers against which they may draw for farming together with repayment arrangements. This is particularly true when it is called to mind that until the mid1970s agriculture accounted for more than 60% of the national income and 70 percent of total employment. Striking future of the Nigerian economy is the general poverty of the people. In the face of this, it becomes obvious that deliberate Government integration is inevitable. Thus, the government has demonstrated over the years through the employing of both fiscal and monetary machinery. It is, therefore, the intention of this study to view the nature and the relationship between monetary policy and agricultural output, the effectiveness of the implementation of the policies, problems encountered which are also responsible for low agricultural output, and therefore, suggest solutions.