THE EFFECTIVENESS OF AGRICULTURAL POLICY REFORMS WITHIN THE CONTEXT OF STRUCTURAL ADJUSTMENT PROGRAMME

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THE EFFECTIVENESS OF AGRICULTURAL POLICY REFORMS WITHIN THE CONTEXT OF STRUCTURAL ADJUSTMENT PROGRAMME

Abstract:

The main thrust of this study is an empirical investigation on the effectiveness of agricultural policy reforms within the context of Structural Adjustment Programme in Nigeria between 1976 – 1996. To achieve this objective, the study uses first the Supply Side function as a framework of analysis. Second, the Chow Test technique was then used to examine the statistical significance of structural shift. The findings of this study reveal that policy reforms in the agricultural sector did not improve the productivity so as to bring about the transformation of the sector into a modern and a selfsufficient one, though the Chow test result showed that S.A.P. had produced a timid positive structural break of agricultural output in the country. This study then recommends amongst other things, that mass education of people on agricultural cooperative be embarked upon, and interest rates on loans for agricultural purpose be reduced through proper exchange rate system regulation. Above all, this study recounmends the urgent reinforcement of interventions in the agricultural pricing policy especially in connection to the removal of subsidies on inputs.

THE EFFECTIVENESS OF AGRICULTURAL POLICY REFORMS WITHIN THE CONTEXT OF STRUCTURAL ADJUSTMENT PROGRAMME

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