Application of Grey-Markov model for forecasting Nigeria annual rice production

Abstract

In this paper, Grey system model (GM(1,1)) and Grey-Markov model that forecast Nigeria annual Rice production have been presented. The data used in the research were collected from the archive of Central Bank of Nigeria for a period of Six years (2010-2015). The fitted models showed high level of accuracy. Hence, the models can be used for food security plans of the nation.