POLAC MANAGEMENT REVIEW (PMR) DEPARTMENT OF MANAGEMENT SCIENCE NIGERIA POLICE ACADEMY, WUDIL-KANO EFFECT OF OIL REVENUE AND NON-OIL REVENUE ON AGRICULTURAL OUTPUT IN NIGERIA (original) (raw)
This study investigates the effect of oil revenue and non-oil revenue on agricultural output in Nigeria. The study employs regression analysis using Ordinary Least Squares (OLS) to examine agricultural output and oil revenue (LGOILR) as well as non-oil revenue (LGNOILR). The regression analysis reveals that oil revenue has a statistically significant positive impact on agricultural output, indicating that increases in oil revenue are associated with corresponding increases in agricultural productivity. However, non-oil revenue does not exhibit a significant direct effect on agricultural output. The study also confirms the presence of stationarity in the variables after first differencing and the absence of heteroskedasticity in the residuals. Based on the findings, policymakers are to prioritize strategies that promote stability and growth in the oil sector while effectively channeling benefits from oil revenue to support agricultural development. Investments in agricultural infrastructure, research, extension services, and market access are recommended to enhance productivity and resilience in the agricultural sector.
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