Abstract
The study examined food security and economic development in Nigeria. To this effect, time series data for 39 years (1980-2018) was employed from CBN bulletin (2018) and World Bank development indicators. Macroeconomic variables such as; per capita income (endogenous variable); food production index, food importation bill and agriculture contribution to GDP was used as the exogenous variables. The study used Auto Regressive Distributed Lag (ARDL) analysis in analyzing the long run and short run of the data. However, from the result food production index had a positive insignificant long run relationship with economic development. This is because food production is expected to increase the productivity of the economy, reduce the importation of staple foods, and increase a nation’s foreign earning. Nigeria however is still a net importer of food, thus its insignificant relationship with economic development in Nigeria. The study hence concludes that food security significantly impact on Nigeria’s economic development. And it was recommended that Nigeria should reduce its food import bill, as that will afford the opportunity to utilize foreign reserve on more capital intensive imports. The government should direct and prioritize the agricultural sector, as that will not just ensure it attains food security, but will increase employment, and income to the populace.
Presenters
Ademola Isaac AgbonaHead of Entreneurship Unit, Science Laboratory Technology, Federal Polytechnic, Ile-Oluji, Ondo State Nigeria, Ondo, Nigeria
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
Food Production and Sustainability
KEYWORDS
Food Security, Food Production Index, Per Capita Income, Agricultural Development
