IMPACT OF AGRICULTURAL CREDIT GUARANTEE SCHEME FUND ON FISHERIES PRODUCTION IN NIGERIA, 1987 – 2021
Akor Helen Omele, Z.S. Saheed and A. A. Alexander
Volume 9 Issue 2
Abstract
The study investigates the impact of Agricultural Credit Guarantee Scheme Fund (ACGSF) on fisheries production in Nigeria from 1987 – 2021. Secondary data were sourced from the Central Bank of Nigeria (CBN) statistical bulletin. The Autoregressive Distributed Lag (ARDL) model approach to co-integration is employed for data analysis. The Augmented Dickey-Filler (ADF) test is used to test for stationarity of data. The results of the ADF (unit root) test reveals that data were stationary at first differencing at 5% level of significance except inflation which was stationary at level. The result of the F-bond test F-statistics to co-integration is 6.5221 which is higher than the upper bound value of 5.0300 at 5% level of significance. This implies that there is a long-run relationship between the variables. The ARDL result shows that the coefficient of the ACGSF credit to fisheries subsector is 0.6321 and is statistically significant. This means that a unit increases in ACGSF credit to fisheries subsector will lead to 0.63% increase in GDP for fisheries. Furthermore, a unit increases in ACGSF loan to livestock and food crop subsectors will increases fisheries production by 0.58% and 0.15% respectively while population will increases fisheries production by 0.09%.inflation is however negative but statistically significant. The study recommends that Agricultural Credit Guarantee Scheme Fund should set aside a higher percentage of its funds for financing the fisheries subsector in order to boost farmers’ initiative and increases productivity. Keywords: Agricultural Credit, Fisheries Production, Livestock, Food Crops.
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