J.W. Okeweshine

EFFECT OF AGRICULTURAL OUTPUT IN ECONOMIC PERFORMANCE ON UNEMPLOYMENT AND INFLATION IN NIGERIA (1981 - 2019)

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Abstract
Unemployment and inflation are major forerunners of underdevelopment in developing countries. Agriculture was known to be one of the major contributors to national development. The economic burden of unemployment and inflation on a country necessitates this study. The objectives of the study were to examine the dimension and linkage between agricultural growth and inflation and also unemployment and to evaluate the effect of inflation and unemployment on agricultural production in Nigeria. Time series data were employed for the study from the year 1981-2019 (38yrs).the research compiled data from the Central
Bank of Nigeria(CBN)statistical bulletin, Nigeria Bureau of Statistics(NBS),International Financial Statistics and data files,CIA World
Factbook and International Monetary Fund’s.(IMF).the project utilized the Ordinary Least Square(OLS) model were the analytical tool used, it shows that agricultural output, unemployment and inflation are related. Some of the recommendations given are that agriculture in Nigeria should be given a top priority and that government bodies should encourage the poor farmers by absorbing the excess inventory of agricultural output in order to distribute it to the total populace and thus increase in agricultural production will create more employment, reduces inflation and as a result alleviate poverty.
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