Statistical Study Of The Effect Of Agricultural Loans On Farming Activities (A Case Study Of Central Bank From 2001-2007)

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Project and Seminar Material for Mathematics and Statistics

Project and Seminar Material for Mathematics and Statistics


We humbly dedicated this project work to the- almighty God, who by his infinity mercy and unmerited favour saved, protected and guided us through this work. And to our beloved parents, who helped immensely in financial aspect of the project.


We are grateful to the staff and students of federal polytechnic Nekede Owerri, during our project writing especially our supervisor, Mr. Orie Bassey and our HOD. Mr.C.C Chime.

We particularly wish to thank Larry & Osmond for their immersed support throughout my study,

Our Gratitude goes to our parent and family members Mr. & Mrs. B. ugwoke, Evely, Anwuli, Onyinye and other names that did not appear in this work.

To God, for our existence and who makes all things possible.


It is commonly said that money is the life wire of any business, agriculture by every standard, qualifies as a business ventures. One can summit that agricultural credit are financial resources made available to farmers against which they may draw for farming together with repayment arrangement.

This is particularly true when it is called to mind that until the mid1970s agriculture accounted for more than 60% of the national income and 70 percent of total employment.

Striking future of the Nigeria economy is the general poverty of the people. In the face of this, it becomes obvious that deliberate Government integration is inevitable. Thus, the government has demonstrated over the years through the employing of both fiscal and monetary machineries.

It is therefore, the intention of this study to view the nature and the relationship between monetary policy and agricultural output, effectiveness of implementation of the policies, problems encountered which are also responsible for low agricultural output and therefore, suggest solutions.

Table Of Contents

  • Title page
  • Certification page
  • Dedication
  • Acknowledgement
  • Abstract
  • Table of content

Chapter One

  • 1.0 Introduction
  • 1.1 statement of the problem
  • 1.2 Aims and objective of the study
  • 1.3 The research questions
  • 1.4 The hypothesis
  • 1.5 The significance of the study
  • 1.6 The scope the study
  • 1.7 definitions of terms

Chapter Two

  • 2.0 Literature review


  • 3.0 Data collection and method of analysis
  • 3.1 data collection and limitation
  • 3.2 data analysis

Chapter Four

  • 4.0 Data analysis and interpretation
  • 4.1 data analysis
  • 4.2 interpretations of results

Chapter Five

  • 5.0 Conclusion and recommendation
  • 5.1 conclusions
  • 5.2 recommendations

Chapter One

1.0 Introduction

Prior to the establishment of the central bank of Nigeria, the government Held its accounts with expatriate commercial banks. Currency issue functions were performed by the then back of British West Africa on behalf of the West African currency Board, whose notes & coins continued in Nigeria until 30th June, 1959. However, the pressing needs for the creation of a central bank was a principal priority in government plan then. This culminated into the setting-up of the LOYNES commission of 1957 to study the feasibility of setting up the central bank of Nigeria.

The commission came out with favorable report which led to the enactment of the central bank of Nigeria. The central bank of Nigeria then swing into operation though not immediately, but in July 1, 1959. Government among the function of the central bank of Nigeria are:

  1. Issuing of legal tender, it is the central bank that has sole right of issuing currency (notes & coins), throughout the federation.
  2. Banker and financial adviser to the government, central bank serves as banker to government & responsible for government financial transaction
  3. Promotion of monetary stability & sound financial structure.

1.1 Statement Of Problem

Agricultural being our major source of employment and food supply to Nigeria cannot be gain said. Yet it’s rather rate of growth and output levels is a thing of wrong. This became more aggravated when one imagines its available potentials in the nations. Thus, with the ever renew efforts at encouraging its growth by government through its main arm of monetary policy implementation.

The central bank of Nigeria. The project is poised to look at the affects of central bank lending guided or the lending institution on the development of farming activities. A lot of problems were meant in studying the cause of the exercise, among which are,

  1. Inadequate record keeping
  2. Reluctance of bank officials which prolonged time of interview
  3. Financial constraint

1.2 Aims And Objectives Of Study

  1. Appraising:Agricultural contribution to GDP at factor cost
  2. Appraising compliance with the current policy guide lines in credit allocation by financial institution and government.
  3. Assessing the state and credit flow to the agricultural sector in Nigeria
  4. Highlighting the effects of finance on the development and growth of agriculture

1.3 Research Question

  1. What are the possible causes of low output in farming
  2. Do low farm output have relationship with bank loans for
  3. Farming activities
  4. Does the rate at which individual farming output depend on the equipment used.
  5. How can low yield in farming be treated
  6. What are the possible means to present low yield in farming
  7. Can the removed of crude implement and replaced with modern implement have effect on farming activities
  8. Educated farmers on obtaining soft loans from financial equipment have effect on agricultural output
  9. Under which condition is the loan granted to farmers for farming activities.

1.4 The Statement Of Hypothesis:

Research hypothesis that will guide the study are as follows:

Null and the alternative hypothesis respectively.

  1. Ho:There is no significant linear relationship btw the central guide lines and agricultural output.
    Hi:There is significant linear relationship between the central bank guide line and agricultural output.
  2. Ho:There is no linear significant relationship between agricultural loans & farming activities.
    Hi:There is significant relationship between agricultural loans and farming activities.

1.5 The Significance Of The Study

The need to boost agricultural production through finance is a matter that does not need any emphasis with population of 140million & annual growth rate of about 3.2. percent according to 2006 population census figures, in the face of winding agricultural output, any increment in production would not be an act of accident but that of design so, the significance of the project would show itself in the following:

  1. Improvement of guidelines on agricultural development.
  2. Improvement on the means of ensuring proper and actual utilization of agricultural loan obtained by farmers.
  3. Increased supply of quality and reliable quality of agricultural raw materials to agro-based firm hence, achieving a good sense the principle of backward integration.
  4. Improved earning increased agricultural export or decrease import of agricultural product.

1.6 The Scope Of Study

The focus of this study shall be on agricultural loan granting institution namely:the central bank of Nigeria (CBN) the Nigeria agricultural and co-operative bank (NACB) and other commercial banks. The review of impact of the leading policy on agricultural development shall span between 1986-1997.

Data collected for this study are secondary data, from all the sources. (central bank of Nigeria, Niger agricultural and co-operatives banks etc) various were obtained, though not without problems, common among them is the restriction to some information while others are termed as classified documents.

1.7 Definition Of Terms

Legal Tender:

Legal tender is any form of money which government declares good for payment of taxes and both public and private debts.

Monetary Stability:

The term monetary stability refers to the values of money, at 0% change in the overall price level.

Open Market Operation:

There is bound trade by central bank:a central bank trade in government securities, done to influence the reserves of commercial banks or to control money supply.

Bank Rate:

The rate at which banks give out loans at interest rate


The gross domestic product (GDP) is the, most important economic indicator; it represents a broad measure of overall aggregate economic.

Backward Integration:

A form of vertical integration that involves the purchase of suppliers in order to reduce spending


Agriculture Development project is a body established to see that and agricultural project meets the criteria established through loans or investment agreement with the company and authorize the disbursement of funds to the company.

I bet you, the complete material is fully loaded. This is just an excerpt. The Material is in MS-Word Format which you can easily edit and is comprehensive for a complete research work for this topic

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How to nail it on the head during your project defence

You are through with writing that project. Now what?

You have found yourself at that point where you have to defend what you have written. Of course you have to stand in front of your supervisor and other literary personalities to prove that you know what you wrote in your project paper. Unfortunately, the more you think about it, the more it looks like you are about to face a legion. It is not a war. But the emotion of dread welling up inside of you makes it look like one. So now you are asking yourself questions.

  • How am I going to start?
  • I hope I will do well enough to get an A.

You really want to nail it, but you need to come to terms with exactly how to get everything in perfect control. Especially your emotions of fear that seem to make a wreck of you every time you think about public speaking.
So here is the deal. I want to help you avoid that feeling that would ruin your precious moment if you dare to let it. And we are going to do it together.

I am going to highlight some very important tips to help you get in control for you to be comfortable enough to move from that feeling of DREAD to CONFIDENT; and making an awesome Impression for that great rating your supervisors should be giving to you so freely.

Consider these tips as you prepare for your defence. We will be taking them one after the other so here we go.

Watch Your Body Language And Keep It Confident:

Can you tell that a person is falling apart if they look confident? … If I can second guess you rightly, am sure you answered no to that question. Remind yourself that you need to come out that way. Now this might seem like a huge big deal when you are dealing with the foreboding. Maintaining a poise of confidence is very important. So find your most comfortable position, sitting or standing and draw up your body. You must exude confidence. It is something you need to do for yourself. People can only see what you allow your body language to show. So you must endeavour to put that out. Remember the story of David and Goliath? … At the end of your defence day, you want to be David.

Dress In Your Most Comfortable And Impressive:

Am sure this one is a no brainer. However I must highlight that you choose comfortable pieces. You don’t want to look so good and yet look like you were forced to wear something that does not belong to you. It’s great to ensure that as impressive as your clothes are on you, that they are also very comfortable.

Speak With Authority:

Going hand to hand with that aura of confidence is your most powerful asset:your words. If you look that confident, your words must not come out like whimpers. To be able to pull this off, you definitely need to speak as deliberately as possible in expressing yourself. Let them also hear what they see.

Use, Your Gestures:

I have often found this to come to my rescue in dealing with shyness and conveying my confidence. Usually it gives you an edge to also drive home your point. You must, however, ensure that you do not over use it. It doesn’t mean that your hands should be flying all over the place. That would be absolutely unnecessary. If you do this well, after a while you will realize that you are not as self-conscious as you used to be at the very start. For most situations, it would have completely disappeared altogether; leaving a really confident you talking.

Have A Good Opening And Closing Line:

Make sure you have perfected a good opening line. You should also be armed with a good closing line too. Try and rehearse it to a friend. If for the first time you presented it, your friend does not say “wow, that’s beautiful” or something like that; just know you need to keep refining it until you get the perfect line. Both opening and closing lines will go a long way in how impressed your panel gets to rate you high.

Make Sure You Know Your Work:

Certainly you should understand how important it is to know your own work from start to finish. Not having in-depth knowledge of your own work is tantamount to a suicide mission. Why should you kill yourself?
When all is said and done, this is what you came to defend in the first place. You should know your work from A to Z.

Prepare For The Questions:

Now this part is truly essential. You must be sure you do not floor all the good work you did on your presentation by not answering correctly. You must pay attention to the questions you are asked to be sure you will give the right answer. Many people get it wrong at this stage and spoil their good presentation. When you do not understand any question do endeavour to ask the person to expatiate what they mean before you answer.

These tips are by no means exhaustive, but applying these tips will give you some necessary advantage you need for a great outcome. Of course that outcome would mean that you eventually earn all your points on this project.

The structure of a good project work

Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.

A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are

1. Introduction

The introduction of an undergraduate project states the main research problem and research argument. What precisely the study is all about and why it is important. It looks at the originality of the research work and how it will fill the gap in other studies. Justification for a research undergraduate topic should not be lengthy before it has been explicitly stated.

Below are the contents in chapter one of an undergraduate research project which includes;

  • Background of the study,
  • Statement of the problem,
  • Objectives or aims of the study,
  • The research questions,
  • Research hypothesis,
  • Significance of the study,
  • Scope of the study,
  • Limitations of the study and
  • Operational definition of terms.

2. Literature review

Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.

3. Research Methodology

This section includes a description of the research methods used in the undergraduate research work such as the sample size, data collection methods, measurement instruments, research data analysis procedures and the population from which the sample was selected.  This section also describes the method used in selecting the sample or samples, validation and reliability of the instruments used in the research work. There are different research statistical techniques used in undergraduate research work such as SPSS, e-views etc.

4. Results & Discussion

This section presents and discusses the data analysis results used in an undergraduate research work, the results of each analysis is being summarized, tabulated, and then discussed for each research question.  Then for each research hypothesis, the statistical test of significance selected and applied to the data is briefly described, followed by a statement indicating whether the hypothesis was supported or not supported.  In presenting the result analyses/summary in an undergraduate project tables and figures and or graph are used to add clarity to the presentation.

5. Summary, Conclusions And Recommendations

This section summarizes the findings of the study in an easy to understand manner.  It also explains the practical implications of those findings, and points to recommended directions for future research in that area.


This is where every source cited in the undergraduate research work is being included. Every undergraduate research work must be properly referenced for its authenticity.

Choosing A Good Project / Research Topic

Students in Nigerian universities these days wish to choose a very simple project topic/material. There is no issue choosing a simple project topic; the only problem is your ability to choose a good project or research topic that your supervisor will easily approve for you.

Most project supervisors really want to see how good his or her project student understands his or her surrounding through the kind of topic he or she chooses for their project work.

There are some project topic that are not reject-able; for instance in Nigeria of today; what do you think is the major issue on ground now?

If a project student can choose or craft a topic on the effect of dollar increment on the economy of Nigeria. Such project topic will be very interesting to write on.

Now what are the qualities of a good project topic?

  1. The materials for the project topic must be easily assessable.
  2. The project topic itself must be meaningful.
  3. The variables must be able to give a clear aim of the project topic.

What do I mean by variable?

Well I am deriving my point from the area of project writing; the variables here are those main words in the project topic.

Like the above project topic; the effect of dollar increment on the economy of Nigeria. You can see the main variables that really define this project topic are:dollar, increment and economy.

Before you present your topic to your project supervisor, first of all understand your project topic, and then secondly try to do some research for your topic to see if at least you can get up to 60% of what you need to write the complete project.

I said that above because you might have a very nice topic that the materials are not available online and there are no books as regard the topic; in this case the project topic becomes difficult for you even though the topic is catchy.

What do I mean by your topic being assessable?

Well what I mean is very simple and easy to understand. Simply pick your project topic, type it on google and see if you will have at least a good background for the topic you are writing on.

If you can have a good background for your project topic and you can understand the problem associated with the project topic, then I believe the aim of the project is not far-fetched.



Samuel Obiora Blessed is the CEO and founder of Samphina Academy ( a.k.a Nigeria Students Media, the youngest engineering graduate of Federal Polytechnic Nekede in 2017 and the engine brain behind this great platform. He is the man behind the scene, filled with many potentials, a musician as well as a pro developer with the interest of Nigerian students at heart.

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