Trends In Budgetary Expenditure On The Agricultural Sector In Nigeria 1977-2004

Abstract The study estimated trend equations for budgetary expenditure on Nigeria agricultural sector between 1977 and 2004.Secondary data in the form of budgetary expenditure records were obtained from various publications of Central Bank of Nigeria CBN and Federal of Statistics FOS.Results from the fitted trend equations showed that budgetary expenditures on agriculture were generally low and insignificant p0.05. Annual compound growth rate of expenditure on the sector was also low 1.02 and fluctuating for the entire period under review. Furthermore the fitted quadratic equations in time variable showed the absence of either significant acceleration or deceleration in expenditure growth on agriculture. This therefore confirms that expenditure growth on agriculture had been stagnant suggesting a case of financial neglect of the sector. Based on these findings the study recommends deliberate efforts by Government to increase funds to agriculture in order to boost self-sufficiency in food production and reduce poverty in Nigeria.