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This paper examines the determinants of capital structure of agro-listed firms in Nigeria, using data generated from the financial statements of twenty eight (28) agro-allied firms, which have been listed in the Nigeria Stock Exchange (NSE) from 2005 to 2010. The major tool for data analysis was Ordinary Least Squares (OLS), which was used to analyze the identified firm-specific variables that affect short and long term debt ratios. All measured capital structure were scaled by the book value of total assets. In terms of short term debt ratio, large firms were perceived to have enough tangible assets at their disposal to pledge as collateral and access debt capital. Highly tangible firms also use more short-term debts, as high tangible asset reduced the magnitude of debt loss incurred by debt providers if the firms default. Growing listed firms used more short term debts, presumably due to their huge capital requirement for financing new short term investment opportunities and the need to meet current liabilities and other overhead expenses. Growing firms are presumed to lack both tangible assets and cheap long term credit sources of information and as such depends mostly on short term debts. The result further shows agro-listed firms with high taxes use more short term debts in their finances. Highly profitable firms do not depend on short-term debts, as they are perceived to be liquid enough to finance their short term investment through retained earnings at the expense of taking short term debts. In terms of long term debt ratio, highly profitable firms use less long term debts, implying that they have enough internally generated funds for their financing needs at the expense of borrowing. Large sized firms depend on long term debt for their finances because of high tangible assets at their disposal as collaterals. Firm age was positively related to long term debt ratio. The estimated growth coefficient was positively and significant, implying that growing firms use more long term debts. Finally, asset structure was found to be positively related to long-term debt ratio. Firms with high tangible assets are perceived to use more long term debts. It is recommended among others that appropriate protectionist policy be put in place for agro-based listed firms seeking short-term financing.

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This study examining the impact of foreign direct investment (FDI) and other macroeconomic variables on agricultural growth in Nigeria from 1981 to 2014, using annual time series data from Central Bank of Nigeria (CBN), World Bank and the United States of America (US) Federal Reserve System. Data was analysed using trend analyses, unit root tests, co-integration tests, ordinary least squares (OLS) regression and Granger causality tests, while the hypothesis was tested with F-test. Results revealed very low FDI inflow into agriculture, not commensurate with the share of agriculture to GDP. All significance were taken at the 5% probability level, i.e. p<0.05. There was positive nonsignificant relationship between agricultural growth and FDI in agriculture, meaning that FDI in agriculture has no direct impact on agricultural growth or the impact on agricultural growth is masked by other macroeconomic variables. Significant positive relationship exists between agricultural growth and macroeconomic instability, while interest rate differential had a significant negative relationship. There was unidirectional causality running from FDI in agriculture, stock of gross external debts, and variability of consumers' price index to agricultural growth, while agricultural growth was significant in granger causing macroeconomic instability. Recommendations are government should not involve itself in business, but seek for and encourage more FDI for the agricultural sector, encourage joint ventures between foreign and domestic investors/entrepreneurs, ensure stability and consistency in its macroeconomic policies, while monetary policy rates should be fixed in such a way that it would attract the right amount of investments in agriculture.

The study determined garlic grower’s perception on livelihoods’ vulnerability to climate variability, the coping strategies employed, and the relationship between the profile and their coping mechanism to climate variability. Correlational research design was employed in this study. The respondents were randomly selected from the registered list of garlic growers in the municipalities of San Jose, Magsaysay, Calintaan, Rizal, Looc and Lubang of Occidental Mindoro, Philippines. Survey, interview guide and observation with the garlic growers and farmer leaders were done. Result showed vulnerability to climate variability indicators that were always perceived were pest and disease, lack of water supply and low quality of crops. The coping strategies that was always practiced was irrigating the land more during dry season using water pumps, since garlic is usually planted in the months of December to April. However, respondents indicated they ‘never’ got crop insurance and do not let their land be leased or rented by other farmers. Further, age and farming experience have significant relationship with coping mechanism employed. Keywords: garlic, coping mechanism, climate variability, crop insurance