Comparative analysis of investment funding in the Nigerian oil and agricultural sector Online publication date: Sat, 01-Jul-2017
by Olorunfemi Yasiru Alimi; Olajide Johnson Alese
International Journal of Economics and Accounting (IJEA), Vol. 8, No. 1, 2017
Abstract: This paper makes a comparative analysis of investment funding between the Nigerian oil and agriculture industry, where both debt and non-debt financing instruments are considered. It employs both descriptive and long-run analyses to establish the facts using data from 1971-2011. The empirical results revealed that all the adopted debt and non-debt financing instruments, follow the same direction with varying magnitudes. Among all these instruments, savings (development stocks and treasury bills) are the best non-debt and (debt) financing mix used to propel the development of both agriculture and oil sector. More so, a negative shock was reported from treasury certificate and bond and international lending club on both sectors' output. However, policy should aim at areas that would make foreign funds have a trickle-down effect on the physical assets of the two sectors and not areas where their funds can easily be repatriated.
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