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International
Journal of Political Science and Development |
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International Journal of Political Science and Development Vol. 4(3), pp. 63–74, March, 2016. DOI: 10.14662/IJPSD2016.015 ISSN: 2360-784X
Research Paper
The Impact of Central Bank of Nigeria’s Agricultural Credit Guarantee Scheme Fund on Agricultural and Economic Development of Nigeria
Dr. Nasir Ahmad Sarkin Dori B.Sc., M.Sc., MPhil., PhD. ACNIM, MIDFPM, FCAI.
Faculty of Arts and Social Sciences, Department of Political Science, Federal University Dutse P.M.B 7156 Dutse, Jigawa State, Nigeria. E-mail: nhanasir2003@yahoo.com
Accepted 16 April 2016
This paper
examines and analyses the effects of Agricultural Credit Guarantee
Scheme Fund on agricultural and economic development of Nigeria. The
findings from the study revealed that the Scheme had increased the
inflow of credit to the Nigerian farmers. It expands the farmers
(beneficiary) acquisition and adoption of modern farming inputs, hectare
utilization, additional labor force, output, income earnings and
standard of living. The scheme also enhanced food production, food
security; import substitution on food locally produced, agricultural
export commodities, GDP, Foreign exchange earnings and rural development
of Nigeria. The conclusion derived from the findings as contained in the
recommendations include: A well implemented and sustained Agricultural
Credit Policy like ACGSF would enable a developing country like Nigeria
to facilitate agricultural and economic development. The three tiers of
government in Nigeria should give the credit scheme the necessary
support, adequate attention, and publicity so that farmers particularly
small and medium who constitute the majority in the rural areas can
benefit from its laudable objectives. Effective monitoring mechanism
must be implemented by Government to monitor the operation and
performance of the scheme. This would go a long way in helping the
scheme to achieve efficiency in performance and operation in future. Cite This Article As: Dori NAS (2016). The Impact of Central Bank of Nigeria’s Agricultural Credit Guarantee Scheme Fund on Agricultural and Economic Development of Nigeria. Inter. J. Polit. Sci. Develop. 4(3): 63-74
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