FOOD SECURITY AND AGRICULTURAL OUTPUT; PANACEA FOR THE SUSTAINABILITY OF THE NIGERIAN ECONOMY – International Journal of Social Sciences and Management Review

FOOD SECURITY AND AGRICULTURAL OUTPUT; PANACEA FOR THE SUSTAINABILITY OF THE NIGERIAN ECONOMY

Authors: Dr. (Mrs.) Kashiari Esther Dibie & Dr. Sunday Okubor Ijieh

ABSTRACT

The Nigerian economy witnessed a robust economy in time past before the discovery of oil. The agricultural sector was neglected and government attention was dully registered on the oil sector which culminated into vices that hindered economic growth and development. This study investigated the agriculture production and food security and their impact on economic growth in Nigeria. Secondary data was collected from Central Bank of Nigeria Statistical Bulletin for the period 1981 – 2021. The presence of unit root was checked by using Augmented Dickey-Fuller (ADF). The Johansen Co-integration technique was employed to determine the long run equilibrium relationships among the variables. Thereafter, the ordinary least square regression analysis was used to determine the direction and magnitude of the independent variables on the dependent variable. The study revealed a strong correlation between the dependent variable and the independent variables. Specifically, the R-Squared of 0.96 and the Adjusted R-Squared of 0.95 showed that 95% of the changes in the dependent variable was explained by the independent variables. The coefficient of loan granted was negative, implying an inverse relationship with GDP, implying a probable diversion of the money into unproductive ventures or the high rate of interest charged on the loans that probably dominated the accrued benefit. Food production, transport and storage had positive relationship with GDP. The study recommended that the government builds more access roads to ease transportation and provide more storage facilities for the sustainability of human security.

Keywords: robust economy, access roads, equilibrium relationship, agriculture, food security, sustainability.

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