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A mathematical modelling of economic restoration through agricultural revitalization in Nigeria

Agricultural sector plays a major role in the economic growth of a nation. Apart from the provision of food which sustains human and animal life, the sector is the highest employer of labour in low income economies. The neglect of the sector due to the discovery of crude oil in Nigeria has led to th...

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Main Authors: Ayoade, Abayomi Ayotunde, Farayola, Philip Iyiola
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2021
Online Access:http://journalarticle.ukm.my/17832/1/jqma-17-1-paper6.pdf
http://journalarticle.ukm.my/17832/
https://www.ukm.my/jqma/jqma17-1/
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spelling my-ukm.journal.178322022-01-07T00:31:02Z http://journalarticle.ukm.my/17832/ A mathematical modelling of economic restoration through agricultural revitalization in Nigeria Ayoade, Abayomi Ayotunde Farayola, Philip Iyiola Agricultural sector plays a major role in the economic growth of a nation. Apart from the provision of food which sustains human and animal life, the sector is the highest employer of labour in low income economies. The neglect of the sector due to the discovery of crude oil in Nigeria has led to the decline in the contribution of the sector over the years and an increase in the level of poverty. Based on that, a deterministic compartmental mathematical model was designed to study the least step needed to be taken by the government in the agricultural sector to revive the economy. Following the epidemic modelling approach, an analytic threshold that determined the effect of government effort on agriculture was derived. The model was studied qualitatively using the stability theory of nonlinear deferential equation and then quantitatively using hypothetical values for the model parameters to conduct the simulation. The qualitative result showed that the optimal agricultural output equilibrium of the model was locally asymptotically stable while the quantitative result showed that government effort to revive the agriculture was enough to restore the economy when the threshold quantity RI > 1. The implication of both the qualitative and quantitative results was that a drastic step had to be taken by the government to promote agriculture by allocating enough funds and land to the sector as well as encouraging farmers which would activate economic boom in the long run. Penerbit Universiti Kebangsaan Malaysia 2021 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/17832/1/jqma-17-1-paper6.pdf Ayoade, Abayomi Ayotunde and Farayola, Philip Iyiola (2021) A mathematical modelling of economic restoration through agricultural revitalization in Nigeria. Journal of Quality Measurement and Analysis, 17 (1). pp. 79-91. ISSN 1823-5670 https://www.ukm.my/jqma/jqma17-1/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description Agricultural sector plays a major role in the economic growth of a nation. Apart from the provision of food which sustains human and animal life, the sector is the highest employer of labour in low income economies. The neglect of the sector due to the discovery of crude oil in Nigeria has led to the decline in the contribution of the sector over the years and an increase in the level of poverty. Based on that, a deterministic compartmental mathematical model was designed to study the least step needed to be taken by the government in the agricultural sector to revive the economy. Following the epidemic modelling approach, an analytic threshold that determined the effect of government effort on agriculture was derived. The model was studied qualitatively using the stability theory of nonlinear deferential equation and then quantitatively using hypothetical values for the model parameters to conduct the simulation. The qualitative result showed that the optimal agricultural output equilibrium of the model was locally asymptotically stable while the quantitative result showed that government effort to revive the agriculture was enough to restore the economy when the threshold quantity RI > 1. The implication of both the qualitative and quantitative results was that a drastic step had to be taken by the government to promote agriculture by allocating enough funds and land to the sector as well as encouraging farmers which would activate economic boom in the long run.
format Article
author Ayoade, Abayomi Ayotunde
Farayola, Philip Iyiola
spellingShingle Ayoade, Abayomi Ayotunde
Farayola, Philip Iyiola
A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
author_facet Ayoade, Abayomi Ayotunde
Farayola, Philip Iyiola
author_sort Ayoade, Abayomi Ayotunde
title A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
title_short A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
title_full A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
title_fullStr A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
title_full_unstemmed A mathematical modelling of economic restoration through agricultural revitalization in Nigeria
title_sort mathematical modelling of economic restoration through agricultural revitalization in nigeria
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2021
url http://journalarticle.ukm.my/17832/1/jqma-17-1-paper6.pdf
http://journalarticle.ukm.my/17832/
https://www.ukm.my/jqma/jqma17-1/
_version_ 1724074614049472512
score 13.211869

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