CREDIT CONSTRAINT AND AGRICULTURAL OUTPUT IN NIGERIA

The paper empirically examines the impact of agricultural loans on agricultural output in Nigeria. The Cobb Douglas function was used with four independent variables including agricultural loans. The result showed that agricultural loan had a positive sign but on significant effect on agricultural output, while other factors were both positively signed and significant. Amongst others, the study recommends that adequate budgetary provision and releases should be made to fund policy initiatives in the agricultural sector in Nigeria. Keywords: Credit constraint, Agricultural credit, Agricultural output, Financ