مجلة القانون والعلوم البينية
Volume 3, Numéro 2, Pages 11-35
2024-08-06
Government Budgetary Allocation, Domestic Investment, And Food Security In Nigeria
Authors : Osinusi Kunle . Taiwo Abayomi . Ashogbon Solomon .
Abstract
Food security has become a global goal due to the increasing world population and agricultural challenges such as climate change, farming implements associated inflation, farmers’ credit accessibility, land competition between food and bio-fuel production, and rural-urban migration among others. This study titled “government budgetary allocation, domestic investment, and food security in Nigeria” thus examined the impact of government budgetary allocation and domestic investment on food security in Nigeria. The study was based on the Harrod-Domar model with empirical analysis that span a period of 36years. The data used for the study were sourced from the Central Bank of Nigeria (CBN) and FAO database. The Augmented Dickey Fuller unit root test, Johansen cointegration test, Ordinary Least Square (OLS) and Quantile regressions, and Granger causality test were employed as methodologies. The study found a long run relationship among government budget allocation to agriculture, domestic investment, and food security in Nigeria. The empirical analysis showed that government budgetary allocation and money supply has significant positive impact on food security while domestic investment and agricultural credit does not. Furthermore, the study established that there is no causal relationship among government budget allocation to agriculture, domestic investment, and food security. The study thus recommends among others that government should increase agricultural budgetary allocation, agricultural sector stakeholders should ensure ethical food systems and agriculture investment, agricultural practices and farmers in rural areas should be prioritize, and policies should be formulated to prevent excessive volatility in food prices.
Keywords
Domestic Investment ; Food Security ; Government Budgetary Allocation ; Agricultural Credit
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