Impact of National Recurrent Expenditure on Nigeria Agricultural Growth from 1990-2017

Onwumere, J; Eze, Anayochukwu Victor; Nwokenekwu, A. V.; Igwe, Ezekiel Obinna

doi:10.9734/ajaees/2018/45782

Cited by 1 publication

(3 citation statements)

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“…The study was carried out in Nigeria. According to Interna-tional Monetary Fund in Mgbanya et al (2018), Nigeria is located in West Africa and lies between latitude 4 0 and 14 0 N of the equator and longitude 3 0 and 15 0 E of the Greenwich. It is a democratic country that is made up of 36 States.…”

Section: Study Areamentioning

confidence: 99%

“…This implies that monetary policy lead to a decreasing rate of return on vegetable oil production in the short run. This approach has been applied by Mgbanya et al (2018), where they stated that the rate of return to scale is obtained from the total values of the significant coefficients. Nigeria (1980Nigeria ( -2018 Nigeria (1980Nigeria ( -2018 Source: Authors Computation Using Eviews 10 ( 2019)…”

Section: Variablesmentioning

confidence: 99%

“…This implies that monetary policy of Nigeria within 1980 to 2018 lead to a decreasing rate of return to vegetable oil production for long time. This approach has been applied by Mgbanya et al (2018), where they stated that the rate of return to scale is obtained from the total values of the significant coefficients.…”

Section: Stability Tests Of the Short Run Response Of Vegetable Oil Production To Monetary Policy Inmentioning

confidence: 99%

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Response of vegetable oil production to monetary policy in Nigeria

Onwumere

Njoku

Agunannah

2021

JONAGES

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Monetary policy is one of the macroeconomic variables that control economy. This is why the study evaluated the response of vegetable oil production to mone- tary policy in Nigeria. Annual time series that spanned for 39 years were obtained from the database of Central Bank of Nigeria and Food and Agriculture Organisa- tion. Data obtained were analysed using descriptive statistics, quadratic trend model and ARDL model. The result indicated that the coefficient of beta 2 (B2) for vegetable oil production (9.15E-05) is positively signed at P-value > 0.1. The implication is that vegetable oil production in Nigeria experienced stagnated growth. The result showed that monetary policy determinants such as inflation rate and broad money supply made significant negative impact on vegetable oil production in Nigeria. Therefore the study strongly recommended that the mone- tary authorities should make available commercial loan for industries involved in the production of vegetable oil at the single-digit prime lending rate to encourage them to grow and expand their vegetable oil agribusiness.

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Section: Study Areamentioning

confidence: 99%

Section: Variablesmentioning

confidence: 99%

Section: Stability Tests Of the Short Run Response Of Vegetable Oil Production To Monetary Policy Inmentioning

confidence: 99%

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