The 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 the ones that have been done arein isolation of the role and challenges of the Central Bank of  Nigeria (CBN) in its quest for agricultural development. This chapter 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 has thrown up leads to the major  conclusion that there are prospect for agricultural development in the area under review. To achieve this, the paper suggests that all the  challenges facing the CBN and other stakeholders in the agricultural sector should be nipped in the bud.