DISCOURSE FOR NIGERIA GREEN ALTERNATIVE

Abstract

This study is an investigation of the future outlook of Nigerian agricultural sector’s growth in the light of global financial developments using linear and symmetric price transmission mechanism model (ECM). The study makes use of annual time series data covering GDP-Agriculture and its sub-sectors which spanned from 1990-2012. The findings show that long-run association exits between agriculture and its sub-sectors with the main sector establishing long-run equilibrium with its sub-sectors, though the convergence rate was moderate as indicated by the attractor coefficient. Furthermore, results show that all the sub-sectors have positive influence on GDP-Agriculture with crop sub-sector having a lead influence when compared to other sub-sectors. Therefore, the study recommends that government should adopt adjustment strategies that hinges on shoring-up gross agriculture revenue to compensate for the dwindling oil revenues given that the prospect for the country economy depends on the policies articulated for the medium-to-long term and the seriousness with which they are implemented.