Monetary theory, on which most policies are based, derives from the assumption that tinkering with money in circulation is the main catalyst of economic activities. Hence, the Keynes’s monetary proposition revolves around the investment multiplier, the marginal efficiency of capital and the interest rate. The figures indicated that the sector contributed 21.96 per cent to the nation’s GDP in the quarter under review. In real terms, Nigeria’s GDP for the first quarter of 2020 stood at N16.7 trillion, meaning agriculture generated about N3.7 trillion. Apart from the cognitive monetary appreciation, it also has an emotional boost to the beneficiaries of such largesse.

Source: The Guardian June 08, 2020 03:32 UTC