ABSTRACT
This paper examined the case for agricultural investment financing beyond the oil economy. It adopted the literature survey method which involved extensive search of existing literature in the disciplinary domain of the paper. It was found out how oil upstaged agriculture as the main revenue earner, and identified the problems militating against oil revenue generation through crude oil theft, pipeline vandalism, social unrest at the nation’s level, and production and price fluctuations at the international market level. It equally found out that prior to oil discovery, agriculture was the main stay of the Nigerian economy, playing a vital role in the provision of stimulus to economic and employment for over 70% of the labour force. Its contribution to GDP dominates other sector’s contribution in the economy. The amount of financing directed towards its development has been limited which hitherto impaired its capacity to propel the desired inclusive growth at the national and rural levels. Furthermore, the paper highlighted the vast potentials in agriculture value chains that should be profiled to attract investment finance from financial intermediaries at minimal cost of capital. It was recommended that government should, through policies and its agencies in charge of the agricultural sector, design measures that will make investment finance accessible to farmers (micro. medium and large scale). While infrastructural amenities as well as improved seeds and modern production technology should be provided by government; these should be matched with a more stable macroeconomic environment. |
