Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria

Edward Ogbonnia Eleje; Eze Okechukwu Agha; Abel Haruna Habila

doi:doi:10.11648/j.ijafrm.20210603.13

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Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria

Edward Ogbonnia Eleje, Eze Okechukwu Agha, Abel Haruna Habila

Published in International Journal of Accounting, Finance and Risk Management (Volume 6, Issue 3)

Received: 1 December 2020 Accepted: 27 July 2021 Published: 6 August 2021

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Abstract

Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 6, Issue 3)
DOI	10.11648/j.ijafrm.20210603.13
Page(s)	85-93
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Development Finance, Agricultural Growth, Poverty Reduction

References

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APA Style

Edward Ogbonnia Eleje, Eze Okechukwu Agha, Abel Haruna Habila. (2021). Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. International Journal of Accounting, Finance and Risk Management, 6(3), 85-93. https://doi.org/10.11648/j.ijafrm.20210603.13

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ACS Style

Edward Ogbonnia Eleje; Eze Okechukwu Agha; Abel Haruna Habila. Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. Int. J. Account. Finance Risk Manag. 2021, 6(3), 85-93. doi: 10.11648/j.ijafrm.20210603.13

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AMA Style

Edward Ogbonnia Eleje, Eze Okechukwu Agha, Abel Haruna Habila. Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. Int J Account Finance Risk Manag. 2021;6(3):85-93. doi: 10.11648/j.ijafrm.20210603.13

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@article{10.11648/j.ijafrm.20210603.13,
  author = {Edward Ogbonnia Eleje and Eze Okechukwu Agha and Abel Haruna Habila},
  title = {Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {6},
  number = {3},
  pages = {85-93},
  doi = {10.11648/j.ijafrm.20210603.13},
  url = {https://doi.org/10.11648/j.ijafrm.20210603.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20210603.13},
  abstract = {Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.},
 year = {2021}
}

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TY  - JOUR
T1  - Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria
AU  - Edward Ogbonnia Eleje
AU  - Eze Okechukwu Agha
AU  - Abel Haruna Habila
Y1  - 2021/08/06
PY  - 2021
N1  - https://doi.org/10.11648/j.ijafrm.20210603.13
DO  - 10.11648/j.ijafrm.20210603.13
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 85
EP  - 93
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20210603.13
AB  - Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.
VL  - 6
IS  - 3
ER  -

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Author Information

Edward Ogbonnia Eleje

Department of Banking and Finance, Federal University, Wukari, Nigeria
Eze Okechukwu Agha

Liquidity Management Unit, Treasury Department Keystone Bank Limited, Lagos, Nigeria
Abel Haruna Habila

Department of Banking and Finance, Federal University, Wukari, Nigeria

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Edward Ogbonnia Eleje, Eze Okechukwu Agha, Abel Haruna Habila. (2021). Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. International Journal of Accounting, Finance and Risk Management, 6(3), 85-93. https://doi.org/10.11648/j.ijafrm.20210603.13

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ACS Style

Edward Ogbonnia Eleje; Eze Okechukwu Agha; Abel Haruna Habila. Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. Int. J. Account. Finance Risk Manag. 2021, 6(3), 85-93. doi: 10.11648/j.ijafrm.20210603.13

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AMA Style

Edward Ogbonnia Eleje, Eze Okechukwu Agha, Abel Haruna Habila. Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria. Int J Account Finance Risk Manag. 2021;6(3):85-93. doi: 10.11648/j.ijafrm.20210603.13

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@article{10.11648/j.ijafrm.20210603.13,
  author = {Edward Ogbonnia Eleje and Eze Okechukwu Agha and Abel Haruna Habila},
  title = {Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {6},
  number = {3},
  pages = {85-93},
  doi = {10.11648/j.ijafrm.20210603.13},
  url = {https://doi.org/10.11648/j.ijafrm.20210603.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20210603.13},
  abstract = {Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Development Finance Strategies, Agricultural Growth and Poverty Reduction in Emerging Economies: Evidence from Nigeria
AU  - Edward Ogbonnia Eleje
AU  - Eze Okechukwu Agha
AU  - Abel Haruna Habila
Y1  - 2021/08/06
PY  - 2021
N1  - https://doi.org/10.11648/j.ijafrm.20210603.13
DO  - 10.11648/j.ijafrm.20210603.13
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 85
EP  - 93
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20210603.13
AB  - Development finance issues have appeared very topical in extant literatures and notable political cum socioeconomic discussions in recent time due basically to its desideratum and criticality to aggregate development of emerging economies. This article investigated development finance strategies and their effects on agriculture and poverty reduction in Nigeria. Specifically, the study examined the impact of agro-financing on agricultural development, and; the impact of industrial financing on poverty eradication in Nigeria. A computer based regression and correlation analysis aided by the IBM SPSS software version 23 was employed to test two formulated hypotheses of the study. Based on the findings from the empirical evaluation, the researcher made two major conclusions that; agro-finance does not have significant positive effect on agricultural development in Nigeria. Secondly, industrial finance does not have significant positive effect on poverty eradication in Nigeria. In line with these conclusions, the study recommends that government should place higher priority on directed credit control scheme such as ACGSF to enable such schemes yield the desired result of improving the agricultural sector and poverty reduction. Secondly, directed credit programmes to SMEs like small and medium enterprise equity investment scheme (SMEEIS) should be supervised adequately and made to work effectively. Lastly, proactive surveillance should be activated by government to checkmate unhealthy practices by lending institutions which could impinge lending integrity and dampen the trust of investors.
VL  - 6
IS  - 3
ER  -

Copy | Download