Bullion
Keywords
Agricultural mechanization, Employment creation, Farm implements.
Abstract
The modernization of agriculture has the potential to achieve the various objectives of creating employment, increasing productivity and output in both the sector and the entire economy, thus contributing to the food security goal of the government. This paper aims primarily at examining the prospects as well as the processes of manufacturing agricultural implements with a view to encouraging small/medium entrepreneurs to engage in the ventures. It examines the manufacturing activities of farm implements. It analyses the role which governments should play as well as highlighting the potential benefits of the enterprises. The paper conclude that given the stage of development where agriculture has to be modernized to meet the food and raw material needs of the economy, the prospects for agricultural implement manufacturing cannot be in doubt. Similarly, the potential for employment generation appears to be fairly high, as show by the experience of other small and medium scale enterprises. It is important, however, that favourable environment be provided for the enterprises in the sub-sector. These include access to fund in the public and private sector finance houses, domestic production of the relevant steel materials from the steel complex, appropriate guidelines to maintain standards, market accessibility, among others. Government intervention may also be required to protect the market against cheap importation of the products.
Publication Title
CBN Bullion
Issue
3
Volume
28
Recommended Citation
I, Ihinodu I.
(2004)
"Employment generation and opportunities in the manufacturing sub-sector. The case for the manufacturing of farm implements.,"
Bullion: Vol. 28:
No.
3, Article 3.
Available at:
https://dc.cbn.gov.ng/bullion/vol28/iss3/3
Included in
Agribusiness Commons, Corporate Finance Commons, Entrepreneurial and Small Business Operations Commons, Finance Commons, Growth and Development Commons