Universities Offering Agricultural Economics in Nigeria – For the past few decades, Nigeria has been one of the world’s fastest-growing economies, consistently achieving an average annual GDP growth rate of 6%. This is mainly because of natural resources like petroleum and natural gas. The country’s rapid economic change is also due to agricultural reform, a restructuring that aimed to improve food security.
There are various universities all over Nigeria that offer agricultural economics and related programs. Agricultural Economics is a program that deals with how incentives affect the quantity, quality, and price of goods. Agricultural Economics aims to provide an understanding of the economic forces that affect food, fiber, and bioenergy production.
Top Best Universities Offering Agricultural Economics in Nigeria
The Best Universities Offering Agricultural Economics in Nigeria
Agricultural economics is a course in Nigeria that has been designed for those who are interested in the production, trade, and consumption of agricultural commodities. The universities offering this course are listed below:
- University of Agriculture, Abeokuta, Ogun State
- Federal University of Lafia
- University of Sokoto
- Federal University of Technology Yola
- University of Lagos
- Federal University of Technology Owerri
- Nassarawa State University
- University of Nigeria, Nsukka
- University of Benin
1. University of Agriculture, Abeokuta, Ogun State
Agricultural Economics and Rural Development Department. Students in this department will have to study and get involved in the production process from the seed to the final commodity produced. The university was established in 1985, and over the years, it has concentrated on agricultural economics, agricultural engineering, biological sciences, home economics, and natural resources management. It is one of the best universities for agriculture economics and rural development in Nigeria.
The university’s mission is to focus on “formulating suitable policies and programs of development and to provide an environment conductive to learning and teaching to promote research and development pertinent to the Nigerian society.
2. Federal University of Lafia
This university is located in the state of Kaduna. It was founded in 1966 and had a budget of 542.131 billion naira in 2014. It has facilities such as classrooms, laboratories, sports facilities, and various other facilities. The university is also divided into three departments: the Graduate School of Letters, the School of Customary Laws, and the School of Media Studies. It has a library system that contains over 10,000 books on agriculture, economics, and rural development.
3. University of Sokoto
This university was established in 1959, and its enrollment exceeds 10,000 students every year. It is one of the best universities in West Africa that is affiliated with Islamic institutions. The university has a budget of 2.5 billion naira to spend annually on research and academic activities. The university’s academic program includes basic sciences, applied sciences, engineering, agriculture economics, and rural development.
4. Federal University of Technology Yola
The university was established in 1985, and it has been growing since then. It boasts a student population that exceeds 10,000 students every year. It has facilities such as laboratories, classrooms, libraries, dining halls, and living quarters for staff members as well as student hostels. Some of the courses at this campus include agriculture economics and rural development.
Candidates that want to acquire agricultural economics as a specialization can add it to any of the following degrees: agriculture (B.Sc. ), environmental management and ecology (B.Sc. ), and food science and technology (B.Sc.), among others.
The choice of university is dependent on the desired specialization or department within the course of study. The universities offer specializations such as Agricultural Economics and Resource Economics (ARE) or Agricultural Management and Organization (AMO). This can be accessed through various websites with information on colleges in Nigeria.
The Importance of Agricultural Economics in Nigeria
Agricultural economics deals with human management and the production of agricultural goods by looking at prices and consumer demand for production. Some of the important ones are:
- The demand for food and agricultural products is inelastic when the price of goods changes. For example, if the cost of production increases, consumers will consume less of that good, thus causing a decrease in demand. Therefore, it may take some time for the price increase to be reflected in production and consumption.
- A cross-country comparison of output is possible by looking at an aggregate-level product such as GDP. However, finding out how this aggregate translates into a particular household level is difficult as all households are different due to varying demographic characteristics (age, gender, etc.). A country’s savings rate is another determining factor of economic growth. The rate at which households save is directly related to household income and the size of the household. As a country’s economic output grows, the annual national savings rate increases, which then leads to higher investment in capital goods like machinery and equipment.
- An agricultural economist would be a key person in developing irrigation policy as it is necessary for farmers to have access to water for their crops. They would also be members of an organization that develops agricultural prices, as these changes can greatly impact consumers and farmers. Agricultural econometrics is an important aspect of the economics field because it allows researchers to analyze data and make predictions about future events.
- Nigeria has a diverse economy, with services contributing 55% of GDP and agriculture, forestry, and fishing accounting for 11%. However, while Nigeria has the largest economy in Africa (the fifth largest in the world), it is also one of the poorest countries. Though Nigeria lacks sufficient rainfall or fertile soil, which limits agricultural output, there are promising prospects for agricultural growth through irrigation and crop diversification.
With its current focus on oil resource development, Nigeria spends less than 3% of its GDP on agricultural development.
Where can Agricultural Economists work in Nigeria?
Industries in which an agricultural economist works in Nigeria are:
- Agriculture: Agricultural economists work in many different areas of agriculture, including farming, animal husbandry, horticulture, and fisheries. Agricultural economists can also work in private consulting firms that provide services to farmers or the government.
- Manufacturing: Agricultural economists can work in the planning and control departments of manufacturing companies that focus on food products or agricultural equipment. They might also be involved in developing new products or manufacturing processes for use by the company or by other manufacturers.
3. Agricultural economists can work in the research and development departments of transportation companies. They might be involved with developing new products or manufacturing processes for use by the company or by other manufacturers.
- Communications: Agricultural economists can work in the research and development departments of communications companies, including television networks and phone companies. They might be involved with developing new programs or manufacturing processes for use by the company or by other manufacturers.
- Commerce, including wholesale and retail trade: Agricultural economists can work in the planning and control departments of businesses that focus on food products or agricultural equipment. They might also be involved in developing new products or manufacturing processes for use by the company or by other manufacturers.
- Health and social services: Agricultural economists can work in the public health departments of organizations that provide health care or social services.
- Education services: Agricultural economists can work in postsecondary school administration, including as secretaries and administrators.
- Government: Agricultural economists can work in the research and development departments of government agencies that focus on agriculture or food products, including monetary policy programs, agricultural research programs, and food safety research programs.
Frequently Asked Questions
Is Agricultural Economics a good course?
Future Agribusiness graduates will gain essential skills and knowledge, such as: Overseeing the development of new products and services. Maximizing profits. Planning and investing.
How many years is Agricultural Economics in Nigeria?
The program of courses leads to the Bachelor of Agriculture (B. Agric) degree and spans a period of 2, 4 or 5 academic years depending on the mode of entry. For the 5-year degree program, the first year (100 level) shall be a qualifying year.
What field is Agricultural Economics?
Agricultural Economics is a specific field of economics that involves the application of economic principles to agricultural markets, businesses, and government policy.
Is agricultural economics a science?
Agricultural economics is an applied social science that deals with how producers, consumers, and societies use scarce resources in the production, marketing, and consumption of food and fiber products.
- Salaryexpert.com – Economist Agricultural Salary
- Samphina.com – Universities that Offer Agricultural Economists
- Universitycompass.com – Nigerian Universities offering Agricultural Economics