• Track Your Paper
  • Submit Now
  • Join Us

ISSN: 2456-7620

Assessing the Performance of Cocoa and Oil-palm Production on Inclusive Growth in Nigeria

Assessing the Performance of Cocoa and Oil-palm Production on Inclusive Growth in Nigeria ( Vol-2,Issue-6,November - December 2017 )

Author: Deborah E. Agene, Evans S. Osabuohien, Akakraiwe Onyekachi, Victoria K. Senibi, Onoja. S. Abraham

Keyword: Inclusive Growth, Cocoa, Oil palm, Agriculture.

Abstract: Over the years, cocoa and oil palm production have been one of the major market of export for international trade and a major source of economic growth in Nigeria. However,the production of cocoa and oil palm has been below expectation as a result of government diverting its attention to the oil and gas sector and consequent low attention in the agricultural sector. This study, therefore, examines the relationship between performance of cocoa and oil palm production on inclusive growth in Nigeria (1981- 2014). It employed Johansen co-integration test to determine the long run relationship between the performances of cocoa-oil palm production on inclusive growth in Nigeria, which is complemented with the Error Correction Mechanism (ECM). The results revealed that cocoa and oil palm production exact positive and significant effect on inclusive growth in both short and the long run. Thus, it is recommended that the Federal Government of Nigeria should invest in activities such as basic and applied agricultural research, agricultural extension and capacity building, irrigation development and agribusiness development that will promote agricultural production resulting in pro-poor growth.

References:

[1] Abolagba, E. O., Onyekwere, N. C., Agbonkpolor, B. N., & Umar, H. Y. (2010). Determinants of agricultural exports. Journal of Human Ecology, 29(3), 181-184.
[2] Adebayo, A. A. (2006). Food security status in Nigeria: Pre and Post Economic deregulation Review. International Journal of Economic Development Resource Investment, 1,135-150.
[3] Adefila, J. O. (2013). Spatial effects of cocoa production on rural economy in Idanre-IfedoreArea, Ondo State of Nigeria.Asian Economic and Social Society, 3(2), 56-66,
[4] Adewale, S. B. (2011). The crowding-out effects of corruption in Nigeria: An empirical study. Journal of Business Management and Economics, 2(2), 59-68.
[5] Adeyemo, A. O. (2015). Analyses of the determinants of palm oil production in Nigeria (1971-2010). Greener Journal of Agricultural Science, 5(4), 110-117.
[6] Adofu, I., Abula, M. & Agama, J,M.. (2012). The effects of government budgetary allocation onagricultural output in Nigeria. Sky Journal of Agricultural Research, 1(1), 1 – 5.
[7] Ajie, H. A. &Oyegun, G. (2015).Corruption and economic growth in Nigeria: An empirical analysis (1996 – 2013). European Journal of Business and Management, 7(5), 224-243.
[8] Akpan, S. B., Edet, J., Udoh, & Umoren, A. A. (2012). Modelling the dynamic relationship between food crop output volatility and its determinants in Nigeria. Journal of Agricultural Science,4(8),36 – 47.
[9] Alamu, S. A. (2013). Analysis of seedling subsidy policy and cocoa production in South-West Nigeria. Journal of Educational and Social Research, 3(4), 59-68.
[10] Alfredo, S. (2010). Growth, poverty and inequality: From Washington consensus to inclusive growth. DESA Working Paper No.100
[11] Aliyu, A. A. (2011).Nigeria’s oil boom period (1973-1983): Was agriculture really neglected? International Journal of Statistics and Applications, 1(1), 1-9.
[12] Antia-Obong, E.A &Bhattarai, K. R. (2012). Growth trends and sources of output growth for oil palm and groundnutproduction in Nigeria (1961-2007). Trends in Agricultural Economics, 3(5), 96-103.
[13] Asian Development Bank (2013). Framework of inclusive growth: Key indicators for Asia and the Pacific.
[14] Awotide, O.D. (2004) Resource use efficiency and inputs institutions in upland rice production InOgun State, Nigeria. Unpublished PhD Thesis, Department of Agricultural Economics, University of Ibadan.
[15] Awokuse, T. O. (2009). Does agriculture really matter for economic growth in developingcountries? Selected Paper prepared for presentation at the American Agricultural Economics Association Annual Meeting, Milwaukee, WI, July 28, 2009
[16] Ayinde, O. E., Muchie, M., Adenuga, M. O., Jesudun, F. I., Olagunju, & Adewunmi, M. O. (2012). Food security and emerging innovations in oil palm production in Osun State, Nigeria.Pakistan Journal of Nutrition, 11 (11), 1009-1013.
[17] Central Bank of Nigeria (2015). CBN Statistical Bulletin, Vol. 26, Abuja
[18] Commission on Growth and Development. (2008). The growth report: Strategies for sustained growth and inclusive development. Washington DC: The International Bank for Reconstruction and Development/World Bank, on behalf of the Commission on Growth and Development. Available at https://openknowledge.worldbank.org/bitstream/handle/10986/6507/449860PUB0Box3101OFFICIAL0USE0ONLY1.pdf?sequence
[19] Elena, I. &Sushana, L. (2010).Inclusive growth analytics: Framework policy research.World Bank, Economic Policy and Debt Department, Economic Policy Division WP: No.4851.
[20] Fabayo, J. A.,Posu, S. M. A., &Obisanya, A. A. (2011). Corruption and the investment climate in Nigeria. Journal of Economic and Sustainable Development, 2(4), 10-16.
[21] Ianchovichina, E. &Lundstrom, S. G. (2009). Inclusive growth analytics: Framework and application. Policy Research Working Paper Series 4851, the World Bank.
[22] Izuchukwu, O. (2011). Analysis of the contribution of agricultural sector on the Nigerian economic development. World Review of Business Research, (1), 1, 191 – 200.
[23] NBS (2016). National Bureau of Statistics: Socio-Economic Survey of Nigeria, Abuja. Nwachukwu, I. N., Ehumadu, F.C., Mayeha, R.O.., Nwaru, J.C., Agwo, N.M. &Onwumere, J.I. (2008).Empiricalassessment of Nigeria’s agricultural export and economic welfare. MPRA, 12631, 2-38.
[24] Odi, N. (2014). Impact of corruption on economic growth in Nigeria.Mediterranean Journal of Social Sciences, 5(6), 41-46.
[25] Odi, N. (2014). Agricultural financing in Nigeria: An empirical study of Nigerian Agricultural Co-operative and Rural Development Bank (NACRDB): 1990-2010. Journal of Management Research, 5(2), 11-20.
[26] Ogundele, O. O. &Okoruwa, V. O. (2006). Technical efficiency differentials in rice production technologies in Nigeria. African Economic Research Consortium Research PaperNo. 154.
[27] Olaiya, T. A. (2016). Examining the political-economy of cocoa exports in Nigeria.International Journal of Applied Economics and Finance, 10, 1-13.
[28] Osabohien, R. A., Osabuohien, E. & Urhie, E (2017). Food Security, Institutional Framework and Technology: Examining the Nexus in Nigeria using ARDL Approach. Current Nutrition & Food Science, 13(4), 1-10.
[29] Osabuohien, E.S (2014).Large-scale agricultural land investments and local institutions in Africa: The Nigerian Case. Land Use Policy, 39 (July), 155-165.
[30] Osarenren, C. O. & Emokaro, C. O. (2015). Profitability of cocoa production under differentmanagement systems in Edo State, Nigeria. Nigerian Journal of Agriculture, Food and Environment, 11(1), 38-43.
[31] Ozurumba, B. A. &Onuorah, A. C. (2016).Sectoral performance and inclusive growth in Nigeria (1990-2013): An assessment. International Journal of Innovation and Economic Development, 1(6), 55-72.
[32] Paramasivan, S., Mani, K. M.&Utpal, C. (2014). A theoretical model for inclusive economic growth in Indian Context. International Journal of Humanities and Social Science, 4(13), 229-235.
[33] Philips, D., NkonyaE.,PenderJ.,Wale O., &Ayoola, O. (2009). Contract to increasing agricultural productivity in Nigeria. International Food Policies Research institute, 6, 1-32.
[34] Rauniar, G. & Kanbur, R. (2010). Inclusive growth and inclusive development: A review and synthesis of Asian Development Bank Literature. Journal Asian Pacific Economy, 41(4), 455-465.
[35] Spence, R. (2009). “Economic growth” in Deneulin, S. and Shahani, L (eds.) An Introduction to the Human Development and Capability Approach, Earthscan/IDRC.
[36] Stewart, R. (2000). Welcome Address Proceedings of the 7th World Sugar Farmers Conference. [36] Durban.www.sugaronline.com/sugarindustry/index.htm (Last accessed April 16 2012, now discontinued)
[37] Udoh, E. J., Akpan, S. B., &Effiong, E. R. (2011). Economic analysis of land allocation use and Intensification among arable crop farmers in Uruanlocal government area of Akwa-Ibom State, Nigeria. Journal of Economics and Sustainable Development, 2(11&12), 1-10.
[38] Ugwu, D. S. (2009). Problems and prospects of commercial small and medium scale cocoa and oil palm production in Cross River State, Nigeria. Journal of Applied Sciences Research, 5(7), 827-832.
[39] Ukeje, R.O. (2003). Macroeconomics: An introduction. Port-Harcourt: Davidson Publication.
[40] Uremadu, S. O., Onyele, K. O. &Ariwa, F. O. (2016).The impact of selected agricultural exports on the growth of the domestic economy. Prime Journal of Business Administration and Management, 6(3), 2035-2046.
[41] World Bank (2008).World Development Report 2008: Agriculture for Development. Washington, DC: The World Bank.
[42] World Bank(2016).World Development Indicators.World Bank, Washington, D.C.
[43] World Development Indicators (WDI, 2016).WDI database.World Bank, Washington, D.C.

ijeab doi crossrefDOI: 10.24001/ijels.2.6.10

Total View: 179 Downloads: 10 Page No: 055-064