Have a personal or library account? Click to login
Finance and Labour Productivity in Nigerian Agricultural Sector: Assessing the Moderating Effect of Insecurity Cover

Finance and Labour Productivity in Nigerian Agricultural Sector: Assessing the Moderating Effect of Insecurity

Open Access
|Jun 2025

References

  1. Abdulaziz, A., Ibrahim, U.A., Maitala, F. (2022). The impact of microfinance banks’ credit on the performance of the Nigerian agricultural sector (1992–2020). Qual. Quant. Res. Rev., 17(2), 14–29. Retrieved from: https://www.researchgate.net/publication/377182850_The_impact_of_microfinance_banks%27_credit_on_the_performance_of_the_Nigerian_Agricultural_Sector
  2. Abdulraheem, M.I., Adeola, O.A. (2015). Impact of micro credit financing on agricultural production. Ang. J., Assoc., 4(8), 8–15. Retrieved from: https://www.researchgate.net/publication/344120411_Impact_of_Micro_Credit_Financing_on_Agricultural_Production
  3. Adebisi, A.A. (2020). Microfinance credit and micro enterprise development in the agricultural subsector of the Nigerian economy. Bullion, 44(3), 15–29. Retrieved from: https://dc.cbn.gov.ng/bullion/vol44/iss3/2
  4. Afolabi, B., Ayodele, A.E., Daramola, K.O. (2021). Agricultural financing and food security: Nigerian experience. Fuoye J. Fin. Contemp. Iss., 1(1), 16–28. Retrieved from: http://www.fjfci.fuoye.edu.ng/
  5. Agbana, E.Z., Lubo, E. (2022). Government expenditure on agriculture and economic growth in Nigeria. J. Good Govern. Sustain. Dev. Afr. (JGGSDA), 7(2), 47–60. Retrieved from: http://journals.rcmss.com/index.php/jggsda
  6. Akinde, O.A., Onafowokan, I.A. (2016). Agricultural financing and agricultural productivity in Nigeria: a case of agricultural credit guarantee scheme funds (ACGSF). Glob. J. App. Manag. Soc. Sci. (GOJAMSS), 11, 118–126. Retrieved from: https://scispace.com/pdf/agricultural-financing-and-agricultural-productivity-in-ccuehwcmqx.pdf
  7. Alabi, R.A., Abu, G.A. (2020). The impact of agricultural public expenditure on agricultural productivity in Nigeria. Work in Progress Paper Submitted for Presentation at AERC Virtual Biannual Workshop Slated for 8–11 June 2020.
  8. Amadi-Robert, C.C., Tonye, T., Agbagwa, K.S., Chukwuemeka, C.S. (2024). Effect of insecurity on agriculture sector performance in Nigeria. Int. J. Econ. Fin. Manag. (IJEFM), 9(4), 142–157. 10.56201/ijefm.v9.no4.2024
  9. Amakor, I.C., Anyamaobi, C. (2022). Causal effect of microfinance credit on crop production and livestock output in Nigeria. Int. J. Res. Edu. Sustain. Dev., 2(3), 25–31. Retrieved from: https://www.researchgate.net/profile/Ifeoma-Amakor/publication/359396314_CASUAL_EFFECT_OF_MICROFINANCE_CREDIT_ON_CROP_PRODUCTION_AND_LIVESTOCK_OUTPUT_IN_NIGERIA/links/6239c346bc48180e3432002b/CASUAL-EFFECT-OF-MICROFINANCE-CREDIT-ON-CROP-PRODUCTION-AND-LIVESTOCK-OUTPUT-IN-NIGERIA.pdf
  10. Babajide, A.W., Badru, F.A. (2022). The impact of insecurity on agricultural productivity in Nigeria. Retrieved from: https://www.researchgate.net/publication/357925096_TOPIC_-THE_IMPACT_OF_INSECURITY_ON_AGRICULTURAL_PRODUCTIVITY_IN_NIGERIA
  11. Bagehot, W. (1873). Lombard Street: A Description of the Money Market. Retrieved from: www.econlib.org
  12. CBN (Central Bank of Nigeria) (2022). Economic report. Retrieved from: https://www.cbn.gov.ng/out/2022/rsd/february%20economic%20report%202022a.pdf
  13. Danladi, J.D., Falaye, M.H., Ochinke, N.A. (2021). The effects of agricultural financing on agricultural productivity in Nigeria. Research Square. https://doi.org/10.21203/rs.3.rs-837417/v1
  14. Ewubare, D.B., Momodu, A.A., Adiele, L.J. (2024). Agricultural output and insecurity in Nigeria. Int. J. Res. Innov. Soc. Sci., 8(7), 324–332. https://dx.doi.org/10.47772/IJRISS.2024.807027
  15. FAO (Food and Agriculture Organization) (2022). Nigeria Agriculture at a Glance. Retrieved from: https://www.fao.org/nigeria/fao-in-nigeria/nigeria-at-a-glance/en/
  16. Falade, A.B., Falade, O.I., Babatunde, T. (2024). Effect of insecurity on agricultural production in Ose local government area of Ondo State, Nigeria. Bima J. Sci. Technol., 8(2), 103–108. 10.56892/bima.v8i2.664
  17. Femi-Olagundoye, M., Charles, O., Tolulope, O. (2024). Exchange rate management and agricultural export financing in Nigeria. Seybold Rep. J., 19(3), 135–153. 10.5281/zenodo.10444266
  18. Fowowe, B. (2020). The effects of financial inclusion on agricultural productivity in Nigeria. J. Econ. Dev., 22(1), 61–79. 10.1108/JED-11-2019-0059
  19. Girabi, F., Mwakaje, A.E.G. (2013). Impact of microfinance on smallholder farm productivity in Tanzania: the case of Iramba district. Asian Econ. Fin. Rev., 3(2), 227–242. Retrieved from: https://ideas.repec.org/a/asi/aeafrj/v3y2013i2p227-242id988.html
  20. Gollin, D., Lagakos, D., Waugh, M.E. (2013). The agricultural productivity gap. National Bureau of Economic Research (NBER). Working Paper Series, No. 19628.
  21. Heil, M. (2018). Finance and productivity: a literature review. J. Econ. Surv., 32(5), 1355–1383. https://doi.org/10.1111/joes.12297
  22. Iderawumi, A.M., Ademola, A.O. (2015). Impact of micro credit financing on agricultural production. Ang. J. (IJLLIS), 4(8), 8–15. Retrieved from: https://www.researchgate.net/publication/344120411_Impact_of_Micro_Credit_Financing_on_Agricultural_Production
  23. IFAD (International Fund for Agricultural Development) (2010). IFAD decision tools for rural finance. Int. Fund Agric. Dev., 14. Retrieved from: https://www.ifad.org/documents/d/new-ifad.org/ifad-decision-tools-for-rural-finance-pdf
  24. Illesanmi, O., Odefadehan, T.C. (2022). The impact of insecurity on agricultural food loss in Nigeria. CJSMS, 7(1), 78–92. https://doi.org/10.26772/CJSMS2022070104
  25. Khan, F.U., Nouman, M., Negrut, L., Abban, J., Cismas, L.M., Siddiqi, M.F. (2024). Constraints to agricultural finance in underdeveloped and developing countries: a systematic literature review. Int. J. Agric. Sustain., 22(1), 1–24. 10.1080/14735903.2024.2329388
  26. Magaji, S., Usman, G., Yusuf, A.T. (2023). Impact of commercial banks’ loan on agricultural output in Nigeria. J. Stud. Soc. Sci., 23(20), 1–12. Retrieved from: https://www.researchgate.net/publication/377776685_Impact_of_Commercial_Banks%27_Loan_on_Agricultural_Output_in_Nigeria
  27. Miftahu, I., Bawa, S.S. (2023). Effect of commercial bank credit facilities to agriculture on real output growth in Nigeria. J. Dev. Econ. Fin., 4(2), 359–374. 10.47509/JDEF.2023.v04i02.05
  28. Ndubuaku, V.C., Okoro, O.E.U. Bello, K., Alozie, C.P. (2019). Agricultural financing and its impact on agricultural GDP: An ARDL approach. Int. J. Sustain. Agric. Res., 6(1), 47–60. Retrieved from: https://ideas.repec.org/a/pkp/ijosar/v6y2019i1p47-60id270.html
  29. Nuhu, N.A., Onuoha, J.O., Dalyop, G.F. (2022). Impact of government expenditure on agricultural output in Nigeria (1981–2019). Int. J. Adv. Res. Soc. Sci. Env. Stud. Technol., 7(2), 1–23. 10.48028/iiprds/ijarssest.v7.i2.01
  30. Obialor, C.B., Ibe, C.C., Egungwu, I.C. (2022). Microfinance credit and agricultural sector output in Nigeria. Int. J. Trend Sci. Res. Dev. (IJTSRD), 6(5), 1744–1752. Retrieved from: www.ijtsrd.com/papers/ijtsrd51742.pdf
  31. Odalonu, B.H. (2022). Worsening insecurity in Nigeria and its implications on governance and national development. Afr. J. Human. Contemp. Edu. Res., 5(1), 31–49. Retrieved from: https://www.researchgate.net/publication/363152362_Afropolitan_Journals_31_Worsening_Insecurity_in_Nigeria_and_its_Implications_on_Governance_and_National_Development
  32. Odugbesan, J.A., Sunday, T.A., Olowu, G. (2021). Asymmetric effect of financial development and remittance on economic growth in MINT economies: an application of panel NARDL. Fut. Bus. J., 7, 39. https://doi.org/10.1186/s43093-021-00085-6
  33. Okafor, C.A. (2020). Commercial banks credit and agricultural development in Nigeria. Int. J. Bus. Law Res., 8(3), 89–99. Retrieved from: https://www.seahipublications.org/wp-content/uploads/2024/05/IJBLR-S-11-2020.pdf
  34. Oyaniran, T. (2023). Current state of Nigeria agriculture and agribusiness sector. AfCFTA Workshop. Retrieved from: https://www.pwc.com/ng/en/assets/pdf/afcfta-agribusiness-current-state-nigeria-agriculture-sector.pdf
  35. Pesaran, M.H., Shin, Y., Smith, R.J. (2001). Bounds testing approaches to the analysis of level relationships. J. Appl. Econometr., 16(3), 289–326. https://doi.org/10.1002/jae.616
  36. Salisu, A.A., Isah, K.O. (2017). Revisiting the oil price and stock market nexus: A nonlinear panel ARDL approach. Econ. Model., 66, 258–271. https://doi.org/10.1016/j.econmod.2017.07.010
  37. Seven, U., Tumen, S. (2020). Agricultural credits and agricultural productivity: Cross-country evidence. Singap. Econ. Rev., 65(1), 161–183. Retrieved from: https://ideas.repec.org/p/zbw/glodps/439.html
  38. Shafique, O., Khan, R.M.N. (2020). An empirical study on the impact of micro-credit financing on the socio-economic status of small agriculturists in Pakistan. J. Bus. Soc. Rev. Emerg. Econ., 6(3), 1051–1061. https://doi.org/10.26710/jbsee.v6i3.1367
  39. Shin, Y., Yu, B., Greenwood-Nimmo, M. (2014). Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In: R.C. Sickles, W.C. Horrace, Festschrift in honor of Peter Schmidt. Springer.
  40. Stiglitz, J.E. (2001). Information and the change in the paradigm in economics. Prize Lecture, December 8, 2001. Retrieved Mar 24th 2025 from: http://www.nobelprize.org/nobel_prizes/economics/laureates/2001/stiglitz-lecture.pdf
  41. Stolbov, M. (2012). The finance-growth nexus revisited: from origins to modern theoretical landscape. Econ. Disc. Pap., 2012–45. Retrieved from: https://hdl.handle.net/10419/62350
  42. Tank, S., Nahuche, F.S., Abdullahi, M. (2024). Assessing the effect of insecurity on food production in the eastern part of Sokoto, Sokoto state, Nigeria. UMYU J. Account. Fin. Res., 16(1), 182–189. https://doi.org/10.61143/umyu-jafr.6(1)2024.014
  43. Toheeb, A., Dabo, A.C. (2022). Impact of agricultural finance on agricultural output in Nigeria (1983–2018). Int. J. Acad. Res. Econ. Manag. Sci., 3(2), 22–37.
  44. USAID (United States Agency for International Development) (2010). Agriculture development is springboard for economic development. Retrieved from: https://opportunity.org/news/blog/2010/05/symposium-agricultural-finance
  45. Usman, G., Yusuf, A.T., Chukwuemeka, E.J. (2024). Agricultural financing and agricultural output in Nigeria: an ARDL approach. Afr. J. Account. Fin. Res., 7(4), 36–49. https://www.doi.org/10.52589/AJAFR-PMRPG9BL
  46. WDI (World Development Indicators) (2023). Data Catalog. Retrieved from: https://datacatalog.worldbank.org/search/dataset/0037712/World-Development-Indicators
  47. Wolters, J., Hassler, H. (2005). Unit root testing, Diskussionsbeiträge, No. 2005/23, Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft, Berlin. https://doi.org/10.1007/3-540-32693-6_4
  48. Yola, N.A., Gwadabe, A.B., Behun, A.U. (2024). Impact of agricultural financing on agricultural productivity in Nigeria. KASU J. Econ. Dev. Stud., 10(2), 260–273. Retrieved from: https://kasujeds.com.ng/index.php/kasujeds/article/view/20/43
  49. Zivot, E., Andrews, D.W.K. (2002). Further evidence on the great crash, the oil-price shock, and the unit-root hypothesis. J. Bus. Econ. Stat., 20(1), 25–44. https://doi.org/10.1198/0735001027534103
DOI: https://doi.org/10.17306/j.jard.2025.00008r1 | Journal eISSN: 1899-5772 | Journal ISSN: 1899-5241
Language: English
Page range: 215 - 230
Accepted on: Jun 3, 2025
Published on: Jun 30, 2025
Published by: The University of Life Sciences in Poznań
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2025 Kingsley Onyekachi Onyele, Henry Chinonso Ene, Innocent Ndidi Umezurike, published by The University of Life Sciences in Poznań
This work is licensed under the Creative Commons Attribution 4.0 License.