ABSTRACT

 This study examined impact of agricultural policies on agricultural productivity in Nigeria between 1981 and 2018. The main objective of the study was to verify how agricultural policies over the years have contributed to productivity of agriculture in Nigeria. The data for this research work was obtained from the CBN Statistical Bulletin (2018) and analysed using ordinary least squares (OLS) technique, Gross Domestic Food Production was regressed on Commercial Bank loan to agriculture (CBLA), Government expenditure on agriculture (GEXA) and Lending Interest rate (LIR). Some econometrics tests were conducted such as Unit Root test, Cointegration test and Error Correction Model. The unit root test indicates that none of the variables was stationary at level but at first differencing all the variables became stationary. The Cointegration test revealed that the variables have long run relationship with economic growth ofNigeria within the sample period. The ECM revealed that Commercial Bank loan to agriculture had a negative significance on Gross Domestic Food Production. The R2 gave a good fit ofthe regression result as the coefficient was 0.73; his shows that 73% ofthe fluctuations in gross domestic product are as a result ofthe changes in the explanatory variables. The Breusch-Godfrey Serial Correlation LM Test revealed that there was no autocorrelation among the series. Based on this finding the research recommends among others that: government should maintain the credibility of macroeconomic policy that will make borrowing pro-investment in order create economic growth through such investments; Agriculture financing should be given paramount attention in policy formulation.