MANAGING THE EFFECT OF INFLATION ON THE AGRICULTURAL SECTOR OF NIGERIA

Authors

  • Eje Grace Chinyere Department of Banking and Finance, Enugu State University of Science and Technology, Enugu, Nigeria
  • Okolie Jonathan Department of Banking and Finance, Enugu State University of Science and Technology, Enugu, Nigeria.
  • Ebele Igwemeka Department of Banking and Finance, University of Nigeria, Enugu Campus, Enugu, Nigeria

Keywords:

Agricultural sector, Consumer Price Index (CPI), Inflation, Nigeria

Abstract

The purpose of this study is to determine the relative effect of inflation on the agricultural sector of Nigeria over the period of 1996 - 2020 and examine how it can be managed. The Ex-post facto research design was used and the data was sourced from the Central Bank of Nigeria Statistical bulletin of various years. The E-views text was employed to analyze the data and the results show that Consumer Price Index (CPI) had a strong positive relationship with agricultural sector GDP by resulting in high positive increase in agricultural sector GDP. The results prove that some events in the country like insecurity, fuel scarcity, exodus of manufacturers etc has impacted negatively on agricultural produce and invariably the prices.

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Published

2023-10-03

Issue

Vol. 1 No. 3 (2023): SEPTEMBER

Section

Articles