Some Strategies for Development of Nigeria's Agricultural Sector in the 1990s

Authors

G. E. Ukpong, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Agriculture, Agricultural Sector, Economy, Nigeria

Abstract

This paper reviews the major policy measures Introduced by the government to Induce growth of output of the agricultural sector and accelerate Its development. Some measures adopted before the Introduction of the Structural Adjustment Programme (SAP} Included producer prices selling through Marketing Boards, establishment of financial Institutions and Funds to extend credit to the sector at concessionary Interest rates, and the provision of extension services by ministries of agriculture. Agricultural policy measures under SAP consisted, among others, of abolition of Commodity Boards, free market determination of agricultural product prices, a ban on the export and Import of selected agricultural products and reduction of Input subsidies.

Preliminary draft of this paper was presented at the Nigerian Economic Society's Seminar in Lagos in December 1992.

Author Bio

The author is an Assistant Director of Research in the Central Bank ol Nigeria and Head, Agricultural Studies Office.

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

31

Recommended Citation

Ukpong, G. E. (1993). Some Strategies for Development of Nigeria's Agricultural Sector in the 1990s. CBN Economic and Financial Review. 31(2), 86-109.