Browsing by Author "Akinyosoye, V.O."

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Agricultural Trade Balance and Food Self-Sufficiency: Implications for Sustainable Development in Nigeria
(science pub, 2011) Olayide, O.E.; Ikpi, A.E.; Okoruwa, V.O.; Akinyosoye, V.O.
Nigeria used to boast of high surplus in agricultural trade and food self-sufficiency, especially in the 1960s. Today, Nigeria has lost the leading position it once occupied as it is now a major importer of food and agricultural commodities. Nigeria now spends billions of naira on importation of food and agricultural products. This situation is paradoxical as Nigeria is well-endowed with the requisite natural and human resources needed to be food self-sufficient. Besides, most governments are adjudged as successful or failure on the basis of meeting the basic needs of their citizens in terms of food. This study analyzed agricultural trade and food self-sufficiency in the context of policy development scenarios including, the Millennium Development Goals (MDGs) and democratic governance paradigms. Data used for the analyses spanned from 1970 to 2007. Descriptive and trends analyses were employed to analyse agricultural trade variables. Statistical inferences were drawn from the comparative analysis of the policy development scenarios. Agricultural imports for the study period witnessed increasing trend. There was agricultural trade imbalance as Nigeria remained a net importing nation. In all development policy scenarios, there were significant (p<0.01) increases in total imports, total exports and net imports. Overall, national food self-insufficiency averaged 29.35 (± 4.08) percent. Therefore, with 71 percent level of food self-sufficiency and high levels of food and agricultural commodities importation, Nigeria needs effective food and agricultural policy in form of import-substitution and building on comparative and competitive advantages to redirect and reverse the negative agricultural trade balance to favour improved domestic food production, agricultural industrialization and value addition with a view to ensuring sustainable agricultural and economic development in Nigeria.
MAPPING THE EFFECT OF FOOD PRICES, PRODUCTIVITY AND POVERTY IN THE DEVELOPMENT DOMAINS OF NIGERIA
(EBSCO Industries, Inc, 2013-12) Olayide, O.E.; Ikpi, A.E.; Okoruwa, V.O.; Akinyosoye, V.O.; Alabi, T.; Omodele, T.
Poverty remains the major obstacle to economic emancipation and achievement of development agenda in Nigeria. Worse still, rising food prices pose a major threat to feeding the teeming population in Nigeria. Declining food production, high population growth, and negative food trade balance combine to worsen the food and poverty situations in Nigeria. We stand on the premise that surging and volatile food prices could have a hardest hit on those who could not afford it – the poor. This study used spatial data on food prices and poverty levels. We mapped food prices and poverty levels by development domains in Nigeria. We found that food price has significant effect on poverty levels in the identified development domains. The food price analysis showed high and rising food prices with high food price instability and price spread. The high food price had effect on purchasing power and poverty levels of Nigerians. The food price surge also had a direct impact on overall inflation because the weight of food in the consumption basket is high. Food inflation ranges over 60 percent, and food inflation has reached double digits. The poverty change analysis revealed that some States witnessed improvement in poverty reduction, while others had their poverty situation worsened. The GIS mapping and overlay of food prices and poverty levels by development domains showed critical policy intervention areas in Nigeria. Policy recommendations that are consistent with food price stabilization and poverty reduction strategies were canvassed. There is need for more effective policy to help the poor and farmers to respond to the opportunity posed by the rising demand for food.