Nigeria's bean market is still characterized by inefficient and weak integration due to inadequate price information and market infrastructure. Therefore, the study investigates the price variation and transmission of beans markets in Nigeria's Southwest region. The study employed an average monthly price of white and brown beans in rural and urban markets spanning March 2014 to July 2019. Coefficient of variation (CV), Augmented Dickey-Fuller (ADF), Johansen co-integration test and Granger-Causality tests were the analytical tools used for the analysis. The results of CV indicated a spike variation of beans prices over the periods. Urban brown beans experienced the lowest variability of 1.56% in 2015, while rural brown beans experienced the highest variability of 30.03% in 2014. The co-integration test established a long-run dynamic between bean products of different varieties in the same market. However, it failed in the same products in different markets using a bivariate co-integration test. The multivariate co-integration test’s results affirmed that bean markets are strongly linked together in the long-run. The results of Granger-causality showed uni-directional and bi-directional causalities in the beans markets. Rural white beans assumed the lead position and formed the major price transmission in the beans’ markets in the area. Therefore, for more efficiency in the beans’ rural and urban markets, the government should design appropriate market strategies such as accessible market information and infrastructures.
The economic importance of palm oil produced by its producers in food requirement, income generation, production and consumption has led to a significant increase in its demand over the years. Thus, this chapter evaluates the effects of palm oil price fluctuations on the welfare of palm oil producers in Nigeria based on annual time series data . In achieving its objectives, the study employs Autoregressive distributed lag model (ARDL). The result establishes the presence of a long-run relationship in the welfare of palm oil producers. The longrun estimates show that palm oil prices had a positive but insignificant relationship with the welfare of palm oil producers. In the short-run estimates, palm oil price and the exchange rate had adverse and significant effects on the welfare of palm oil producers, while the inflation rate positively and significantly influenced welfare. Therefore, the welfare programme should adopt policies that will stabilise the palm oil price and other foodstuffs to increase the standard of living of palm oil producers and raise their literacy levels.
Evidence abounds on surging disasters, mainly as consequences of poor risk identification and management, which have historically accompanied disaster management in many African countries. Effective management of disaster risks, whether natural or man-made, is necessary for building resilience, enhancing mitigation, preparedness, response, recovery and adaptation. As part of a broad-based risk management approach, Nigeria made frantic efforts to mitigate the effects of various disasters, by establishing relevant institutions and formulating policies. In spite of these efforts, implementation outcomes have not been adequately quantified and managed. This study reviews and assesses the policies and practices of disaster risk management (DRM) vis-á-vis institutional framework in Nigeria. It utilises available data and policy documents to review and analyse Nigeria's institutional framework. Furthermore, the study carries out implicative scenario analysis based on the current institutional framework, to match the DRM trends. It also proffers recommendations on how best institutions could drive proper DRM in Nigeria. The strengths, opportunities, gaps and constraints associated with disaster and risk reduction in Nigeria are then highlighted.
This study investigates the relationship between exchange rate variability and palm oil export in Nigeria. It conducts unit root test using augmented Dickey-Fuller (ADF) test statistics on the times series data to confirm the order of stationary of the variables. Johansen Cointegration is used to check the presence of long-run relationship and Error Correction Model (ECM) to check shock effect. The findings suggests
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