Agribusiness SME’s Investment: Effect of Investment and Output on Gross Domestic Product of Nigeria

Abstract

The study analyzed the effect of agribusiness investment and output on Nigeria’s gross domestic product (1980-2022). Specifically, the study assessed the contribution of the agribusiness sector to Nigeria’s GDP, changes in agribusiness output and GDP and changes in agribusiness investment and GDP within the period under review. Secondary data from databases of reliable institutions like the CBN, FAO, World Bank, etc were employed. Data were analyzed using the OLS regression model. The result of the findings showed that the coefficient of agribusiness investment (5.540396) was significant at (1%), while that of agribusiness output was negatively signed (-2.079633) but also significant at (1%). The study concluded that agribusiness investment had a positive impact on the nation’s GDP. Based on findings, the study recommended that more investments be made in agribusiness and policies that would improve the efficiency and productivity of agribusiness output be implemented