Exchange Rate Variation and Export of Agricultural Produce in Nigeria
Abstract
This study examined the effect of exchange rate variation on the export of agricultural produce in Nigeria.DataforthisstudyweresourcedfromWorldDevelopmentIndicators – WDI, Central Bank of Nigeria, Statistical Bulletin and Annual Reports for the various years, and the National Bureau of Statistics. The data covered a period of35 years 1986 – 2021. The analysis began with a descriptive statistic, unit root test and a co-integration test to ascertain the suitability of the data that entered the model. Thereafter, the VAR estimation technique was used in estimating the model for this study. The variables of the model include: Agricultural Export, Exchange Rate Variation, Trade Openness, Agricultural Finance and Agricultural Employment. The results show that EXRV, TOPEN, AGRFIN and AGREM Pexerta positive affection AGRXPT. The study therefore concludes that EXRV, TOPEN, AGRFIN and AGREMP play a vital role in enhancing the export of agricultural produce in Nigeria. Based on that, the study recommends increased domestic production of agricultural produce, implementation of export oriented policies that will engender increased foreign exchange inflows towards a stable exchange rate system and adequate training and extension services to boost the competence of the labour force in the agricultural sector.
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