EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA

Felix Achoja; Daniel Okeke

doi:10.25287/ohuiibf.462961

TR EN

EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA

Öz

In a developing country such as Nigeria, fluctuation in macroeconomic factors can bring about food price shocks and food insecurity. It is important to investigate whether food price shocks have impacted the food security status of net food buying households. This study specifically examines the effect of food price shocks on the food security status of net food buying households in Nigeria. Secondary data were elicited from Central Bank of Nigeria (CBN) and NBS (National Bureau of Statistics) for the 1995-2016 years period. In analyzing the collected data, descriptive statistics (mean and percentage), coefficient of variation and regression model were used. The result revealed that all macroeconomic factors except exchange rate have a positive and significant relationship with food price shock. The result also indicated a 64.35% variation in food price shock with a variation of 38.07% in consumption expenditure (food security status) over the time period. On account of this, minimum consumption expenditure was over N1, 304 compared to the World Bank consumption expenditure per person. Hence revealing that net buying households have extremely high cost of living and low welfare status (food security status). On the basis of this findings. It is recommended that the government should implement policies and regulations that will control and stabilize those macroeconomic factors that can agitate increases in food prices and cause food price shocks. This study had filled the knowledge gap by providing information on the degree to which food price shocks can affect the food security status of net food buying households in Nigeria.

Anahtar Kelimeler

Food, Price, Shocks, Consumption Expenditure

EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA

Öz

In a developing country such as Nigeria, fluctuation in macroeconomic factors can bring about food price shocks and food insecurity. It is important to investigate whether food price shocks have impacted the food security status of net food buying households. This study specifically examines the effect of food price shocks on the food security status of net food buying households in Nigeria. Secondary data were elicited from Central Bank of Nigeria and National Bureau of Statistics for the 1995-2016 years period. In analyzing the collected data, descriptive statistics (mean and percentage), coefficient of variation and regression model were used. The result revealed that all macroeconomic factors except exchange rate have a positive and significant relationship with food price shock. The result also indicated a 64.35% variation in food price shock with a variation of 38.07% in consumption expenditure (food security status) over the time period. On account of this, minimum consumption expenditure was over N1,304 compared to the World Bank consumption expenditure per person. Hence revealing that net buying households have extremely high cost of living and low welfare status (food security status). On the basis of this findings. It is recommended that the government should implement policies and regulations that will control and stabilize those macroeconomic factors that can agitate increases in food prices and cause food price shocks. This study had filled the knowledge gap by providing information on the degree to which food price shocks can affect the food security status of net food buying households in Nigeria.

Anahtar Kelimeler

Food security, Price shocks, Consumption expenditure, Net food buyers

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yazarlar

Felix Achoja ^*
0000-0002-9705-4923
Nigeria

Daniel Okeke Bu kişi benim
0000-0002-9402-0656
Nigeria

Yayımlanma Tarihi

23 Ocak 2019

Gönderilme Tarihi

23 Eylül 2018

Kabul Tarihi

20 Ocak 2019

Yayımlandığı Sayı

Yıl 2019 Cilt: 12 Sayı: 1

DOI

https://doi.org/10.25287/ohuiibf.462961

IZ

https://izlik.org/JA72LP39MX

APA

Achoja, F., & Okeke, D. (2019). EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 12(1), 83-92. https://doi.org/10.25287/ohuiibf.462961

AMA

1.Achoja F, Okeke D. EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA. ÖHÜİİBFD. 2019;12(1):83-92. doi:10.25287/ohuiibf.462961

Chicago

Achoja, Felix, ve Daniel Okeke. 2019. “EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 12 (1): 83-92. https://doi.org/10.25287/ohuiibf.462961.

EndNote

Achoja F, Okeke D (01 Ocak 2019) EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 12 1 83–92.

IEEE

[1]F. Achoja ve D. Okeke, “EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA”, ÖHÜİİBFD, c. 12, sy 1, ss. 83–92, Oca. 2019, doi: 10.25287/ohuiibf.462961.

ISNAD

Achoja, Felix - Okeke, Daniel. “EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 12/1 (01 Ocak 2019): 83-92. https://doi.org/10.25287/ohuiibf.462961.

JAMA

1.Achoja F, Okeke D. EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA. ÖHÜİİBFD. 2019;12:83–92.

MLA

Achoja, Felix, ve Daniel Okeke. “EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 12, sy 1, Ocak 2019, ss. 83-92, doi:10.25287/ohuiibf.462961.

Vancouver

1.Felix Achoja, Daniel Okeke. EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA. ÖHÜİİBFD. 01 Ocak 2019;12(1):83-92. doi:10.25287/ohuiibf.462961

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EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA

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EXPLANATORY POWER OF PRICE SHOCKS IN FOOD SECURITY EQUATION OF NET FOOD BUYERS IN NIGERIA

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