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Impact Of Government Agricultural Policies On The Major Staple Food Prices In Nigeria (1966 - 2011)

Author

Listed:
  • Ayinde, Opeyemi
  • Ilori, T.E.
  • Babatunde, R.O.

Abstract

This study assessed the impact of government agricultural policies on the prices of major staple food in Nigeria. It described the trend of the major staple food prices and determined the effect of government agricultural policies on the major staple food prices in Nigeria. Secondary data were sourced from various organizations and used for this study. These data were transformed from their nominal value to real value and analyzed using descriptive statistics, unit root test, ordinary least square model, cochrane-orcutt, least absolute deviation estimators and simultaneous equation model. The study revealed that the prices of most of the major staple foods were at the peak value between 1991 and 1993 while their prices were at the lowest value between 1978 and 1983. The study observed that the price of cowpea is most volatile seconded by maize. The study further established that the prices of staple foods were inter-related. Also, it was showed that agricultural credit guarantee scheme funds (ACGSF), agricultural policies during structural adjustment period (SAP) and post-structural adjustment period (PSAP) were statistically significant while the agricultural input subsidy scheme was statistically insignificant. The study recommended painstaking formulation and implementation of agricultural policies and re-structuring of agricultural of input scheme.

Suggested Citation

  • Ayinde, Opeyemi & Ilori, T.E. & Babatunde, R.O., 2015. "Impact Of Government Agricultural Policies On The Major Staple Food Prices In Nigeria (1966 - 2011)," 2015 Conference, August 9-14, 2015, Milan, Italy 211188, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae15:211188
    DOI: 10.22004/ag.econ.211188
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    References listed on IDEAS

    as
    1. World Bank, 2001. "World Development Report 2000/2001," World Bank Publications - Books, The World Bank Group, number 11856.
    2. Rosa, Franco & Vasciaveo, Michela, 2012. "Agri-Commodity Price Dynamics: The Relationship Between Oil and Agricultural Market," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126738, International Association of Agricultural Economists.
    3. Ayinde, Kayode & Bello, Aliyu A. & Ayinde, Opeyemi Eyitayo, 2013. "Modeling Nigerian Government Revenues and Total Expenditure: An Error Correction Model Approach," 2013 Fourth International Conference, September 22-25, 2013, Hammamet, Tunisia 160483, African Association of Agricultural Economists (AAAE).
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    More about this item

    Keywords

    Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety;

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