Sustaining Agricultural Production in a Deregulated Economy

Authors

M. O. Ojo, Central Bank of Nigeria
E. D. Balogun, Central Bank of Nigeria
Grace O. Evbuomwan, Central Bank of BankFollow

Publisher

Central Bank of Nigeria

Keywords

Agriculture, Agricultural Production, Deregulated Economy

Abstract

This paper reviews the policy framework for Nigerian agriculture and gauges Its Impact prior to and since the commencement of economic deregulation. It investigates the prospects, analyses the constraints and outlines a feasible strategy for sustaining agricultural growth in a deregulated enabling environment 1he paper notes that in the pe1iod, 1970 to 1982, the deterioration in agricultural performance In Nigeria was the result not only of external shocks and environmental and/or edaphic factors, but of distorted policy pursuits which Created disincentives for farming. However, following attempts .to deregulate the economy with the adoption of the Structural Adjustment Programme in 1986 and the consequent effort to get price Incentives right for agriculture, there was some Improvement in agricultural performance.

Author Bio

Dr. Ojo is the Director of Research, Central Bank of Nigeria:, while Mr Balogun and Mrs Evbuomwan are Principal Economists in the same department.

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

31

Recommended Citation

Ojo, M. O.; Balogun, E. D. & Evbuomwan, G. O. (1993). Sustaining Agricultural Production in a Deregulated Economy. CBN Economic and Financial Review. 31(2), 71-86.