Central Bank of Nigeria and the Paradox of Agricultural Development in Benue State, 1978 – 2020

Abstract

There is a plethora of studies on agricultural development in Benue State generally. However, only few of these studies examine the nature of agricultural development. Even ones that have been done in isolation of the role and challenges of the Central Bank of Nigeria (CBN) in its quest for agricultural development. This study is a departure from the previous studies; it hinges on the CBN and agriculture development with a specific attention on Benue State between 1978 and 2020. Using extant literature and oral sources in line with interdisciplinary approach; it analyzes the challenges of the CBN in its quest for agricultural development in the area under consideration. It affirms, the daunting challenges that have hindered the CBN from maximally achieving its aim of agricultural development paved the way to a rudimentary state of agriculture in Benue State. The evidence thrown up leads to the major conclusion that there is prospect for agricultural development in the area under review. To achieve this, the study suggests, all the challenges facing the CBN and other stakeholders in agricultural sector must be nipped in the bud.