Unraveling the Tragic Mystery Plummeting the Growth of Nigerian Livestock Sector

Abstract

The present research determined the performance of Nigerian livestock sector using dated data that spanned from 1981 to 2019. The data were sourced from FAO, UNCTAD and Central Bank of Nigeria data banks; and, data analyses were achieved using both descriptive and inferential statistics. Based on the findings it was inferred that the livestock sector has efficient integration with the macro-economic indicators that prevailed in the economy. However, the degree of integration of the sector was inefficient despite the stability of the sector which owes to delay in the ability of the sector’s equilibrium to correct its disequilibrium. Furthermore, poor utilization of sector’s fund, high inflation, red-tapism and economic pilfering were the macro-economic indicators that affected the performance of the sector. The empirical evidences showed that the directions of the sector Gross domestic product (GDP) and production was influenced by the internal and external economics respectively. Thus, the study urge the policymakers to strengthen the internal mechanism that checkmate the utilization of the funds allocated to the sector and should encourage domestic production of agro-allied products so as to protect the economic from being vulnerable to foreign market shocks. Also, trade policies viz. export promotion of livestock products and stringent embargo on importation of livestock products should be enhanced, thus enhancing the stability of the sector’s economy.

Keywords

• GDP
• growth
• livestock
• macro-economic
• indicators
• Nigeria

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