d2a3a7a5-3e91-4005-aff8-758f616314ff20210305023928398wseamdt@crossref.orgMDT DepositWSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS2224-28991109-952610.37394/23207http://wseas.org/wseas/cms.action?id=40161420211420211810.37394/23207.2021.18https://wseas.org/cms.action?id=23245Impact of Agricultural Credit on Economic Growth in NigeriaMosinmileoluwaAfolabiDepartment of Banking and Finance, Covenant University, Km 10, Idiroko, Ota. NigeriaOchei AilemenIkpefanDepartment of Banking and Finance, Covenant University, Km 10, Idiroko, Ota. NigeriaGodswill OsagieOsumaDepartment of Banking and Finance, Covenant University, Km 10, Idiroko, Ota. NigeriaGraceEvbuomwanDepartment of Banking and Finance, St Augustine University, Epe, Lagos State. NigeriaThis study’s aim was to examine the influence of agricultural credit on Nigeria's economic growth for the period of 1981-2017. Data is sourced from Central Bank of Nigeria (CBN) statistical bulletin and world development indicator (WDI). The detailed objectives are to analyze the effect of the Agricultural credit guarantee scheme fund (ACGSF) and the deposit money bank credit to agric sector (DMBCA) on Nigeria's Economic Growth. Data was analyzed using the test for stationarity, Auto-Regressive Distributed Lag (ARDL). ARDL is adopted due to the mixed order of stationarity of the variables at levels and first difference. From the research results, it was established, in the long run, that DMBCA is significant and there exists a direct relationship, only in the short run, and the ACGSF is insignificant both the short and long run but has a direct relation in the short run and an inverse relationship in the long-run. Therefore, it is recommended, that the Federal Government should make coordinated attempts to ensure that farmers especially small-scale farmers have easy access to the financial aids and grants provided and the funds should be disbursed appropriately and adequately without any hitch.352021352021511523https://www.wseas.org/multimedia/journals/economics/2021/b065107-1077.pdf10.37394/23207.2021.18.52https://www.wseas.org/multimedia/journals/economics/2021/b065107-1077.pdfOgen, .O. (2003). Patterns of Economic Growth and Development in Nigeria since 1960 in SO. Arifalo and Gboyega Ajayi (eds.) Essays in Nigerian Contemporary History. Lagos: First Academic Publishers.Alkali, R. (1997). The World Bank and Nigeria: Cornucopia or Pandora Box? Kaduna: Baraka Press.CBN. (2009). Annual Report and Statement of Accounts, For the Year ended 31st December, 2009, Abuja.National Bureau of Statistics (2018). Nigeria’ Agriculture Contribution to GDP for the Year 2018, Retrieved from www.nbs.gov.sc. Accessed 14th November,2019.Adeoti, A.I. and Raji, M.A.Y. (2010). Determinants of Agricultural Credit Rationing by Commercial Banks in South-Western, Nigeria. International Research Journal of finance and Economics, Vol 37, pp 1450-288710.2174/1573401313666170525133853Osabohien, R., Osabuohien, E., Obiekwe,.E. and Urhie, E.,.(Eds).(2018). Food security, institutional framework, and technology: Examining the nexus in Nigeria using ARDL approach, Current Nutrition and Food Science, Vol 14, No 2, pp. 154–163.Famogbiele, A. (2013). The Challenges of Agricultural Finance in Nigeria: Constraints to Sustainable Agricultural and Economic Revival, International Journal of Business and Social Research (IJBSR), Vol 3, No 5, pp. 234- 244.Gani, I. M.., and Abubakar, A., (2013). Impact of banking sector development on economic Growth: Another look at the evidence from Nigeria. Journal of Business Management & Social Sciences Research (JBM & SSR), Vol 2, No 4, pp. 47-57.Evbuomwan, G .O., Okoye, L .U. and Eke, .O.P. (2018). Effect of Government and Private Sector Financing on the Agricultural sector in Nigeria. A paper presented at the 31st international Business Management Association, Retrieved from www.researchgate.net . Accessed 20th February 2020.10.6007/ijarafms/v6-i2/2099Ayeomoni, I.O and Aladejana, A.S. (2016). Agricultural Credit and Economic Growth Nexus. Evidence from Nigeria, International Journal of Academic Research in Accounting, Finance and management Sciences, Vol 6, No 2, pp. 146-158Lefty,.N. (2012). What is "economic Growth, Retrieved from www.thormhartmann.com Accessed 9th December 2019.10.5430/rwe.v6n4p53Ojiegbe, J.E and Duruechi, A.H (2015). Agricultural Loans, as Catalyst for Food Production in Nigeria: The Problems and Prospects, Journal of Research in World Economy, Vol 6, No 4, pp 53-63. Chen,.J. (2018). Agricultural Credit, Retrieved from www.investopedia.com Accessed 25th November 2019Chappelow,J .(2019). Gross Domestic Product-GDP. Retrieved from www.investopedia.com. Accessed 14th November,2019 Smith, .A. (1776). Wealth of Nations,1ST Edition, London: W. Strahan and T. Cadell Jhingan M.L. (2004), Money, Banking, International Trade and Public Finance,7th Revised Edition, New Delhi: VRINDA publication Ltd.Lema, A and Paul,.F. (2018). The Dynamic Synergies between Agricultural Financing and Economic Growth of Tanzania, African Journal of Economic Review, Vol 4, No 2,pp. 46- 60.Ayim, S. A. and Orok, A.B. (2017). The Impact of Agricultural Credit Guarantee Scheme Fund on Agricultural Sector Development in Nigeria. International Review of Management and Business Research, Vol 6, No 3, pp.1104-111610.6007/ijarafms/v6-i2/2099Ayeomoni, I.O and Aladejana, A.S. (2016). Agricultural Credit and Economic Growth Nexus. Evidence from Nigeria, International Journal of Academic R Research in Accounting, Finance and management Sciences, Vol 6, No 2, pp. 146-158.Duke, S. B., Mbat, D. O. and. Udoka, C. O., (2016). The Effect of Commercial Banks’ Credit on Agricultural Production in Nigeria, Journal of Finance and Accounting, Vol 4, No 1, pp. 1-10.10.14738/abr.32.1009Gabriel,E.E., Anthony.O., and Arikpo. OF (2015). The Contribution of Deposit Money Banks on the growth of the Agricultural sector in Nigeria, Advances in Social Sciences Research Journal, Vol 3, No 2, pp. 33-42.10.9734/ajaees/2017/32304Khan,W., Fatima,S.,and Jamshed, M. (2017) Agricultural Credit-led Agricultural Growth: A VECM Approach , Asian Journal of Agricultural Extension, Economics & Sociology, Vol 19, No 1, pp. 1-16.Ikpefan, .O.A.(2007) Financing Agricultural Cooperative Societies in Nigeria: Challenges and prospects , Journal of cooperatives10.1016/s0165-1765(97)00214-0Pearson, M.H., and Shin, Y. (1998). Generalized Impulse Response Analysis in Linear Multivariate Models. Economics Letters, Vol 56, pp. 17-29.10.1177/2158244019899045Osuagwu, E.S. (2020). Empirical Evidence of a Long-Run Relationship Between Agriculture and Manufacturing Industry Output in Nigeria, SAGE open journal Vol 10, No 1, pp. 1-12.Bakulina, G., Fedoskin, V., Pikushina, M., Kukhar, V., and Kot, E.(2020) Factor Analysis Models in Enterprise Costs Management, International Journal of Circuits, Systems and Signal Processing, Vol 14 pp.232-24010.46300/9106.2020.14.117Meshref,. H. (2020). Predicting Loan Approval of Bank Direct Marketing Data Using Ensemble Machine Learning Algorithms, International Journal of Biology and Biomedical Engineering, Vol 14, pp. 826-832.