CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The word agriculture is a late Middle English adoption of the Latin word agricultural, which was derived from the root words ager, which means field and cultural, which means cultivation or growing. According to Komlafe (1985), agriculture is the science and act of cultivating the ground for production of crops, and the preparation of plant products for man’s consumption. Agriculture is also an act of rearing animals (including fish production) as well as production and processing of raw materials for industries.
Anyanwu (1997) was of the opinion that agriculture is the main source of gainful employment from which a nation can feed its teeming population, providing the nation’s industries with local raw materials and as a reliable source of government revenue. In the 1960s, the agricultural sector contributed greatly in domestic production of goods, employment generation and in foreign exchange earnings for Nigeria (Famogbiele, 2013). This was the situation for almost three decades before oil was discovered in Nigeria. Since then, the agricultural sector has lost its top spot as the foremost revenue earner for the country. Consequently, the percentage of financing for the agricultural sector in Nigeria has dropped since the 1970s. Agricultural sector plays a very important role in every economy. It provides massive employments, generates basic raw materials, provides food for the populace and generates foreign exchange earnings. Agriculture provides security and stability in the economy and provides raw material markets for the industrial sector (Okumadawa, 1997, World Bank, 1998, Food and Agricultural Organization, (2006). Agriculture is broadly divided into two types. These are commercial agriculture and subsistence agriculture. In commercial (industrialised) agriculture, large quantities of crops and livestock are produced through industrialised techniques for the purpose of sale.
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