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Full-Text Articles in Social and Behavioral Sciences
Keynote Address, Godwin I. Emefiele Con
Keynote Address, Godwin I. Emefiele Con
Economic and Financial Review
The theme for this year’s edition, “Food Security in Nigeria: Options for Policy” is apt and in tune with the existing realities of both the global and domestic economies, which have suffered heavily from the impact of the COVID-19 pandemic. In fact, the theme could not have come at a better time than now when issues of insecurity, climate change, and COVID-19 related disruptions are challenging food production and supply, not only in Nigeria but also globally. As a matter of fact, food security is critical for national security, economic stability and sustainable development.
Welcome Address, Itohan M. Ogbomon-Paul
Welcome Address, Itohan M. Ogbomon-Paul
Economic and Financial Review
The theme of this year’s Seminar is tagged “Food Security in Nigeria: Options for policy”. The central focus of the Seminar is to discuss policy options for tackling the challenges of food insecurity, with the resultant outcomes on poverty reduction, job and wealth creation, as well as overall growth and development of the Nigerian economy. This year’s Seminar provides a unique opportunity for us all, because food holds the key to quality human existence. Indeed, food security is at the core of every nation’s development agenda. The quantity and quality of food available to the citizenry is correlated with the …
Food Security, Economic Growth And Price Stability Nexus And Conceptual Issues, Park O. Idisi
Food Security, Economic Growth And Price Stability Nexus And Conceptual Issues, Park O. Idisi
Economic and Financial Review
A strong argument that encourages analysing food security and food price stability issues is importance to economic well-being. Nigeria is one of the most food insecure countries and highly affected by all three drivers. For one, the country is vulnerable to price instability and successively hit by environmental disasters, that impact people’s livelihoods. Furthermore, its economy is thriving, but around 48.0 per cent of its population lives below the poverty line (World Bank, 2020; World Poverty Clock, 2020). In addition to that, since 2009 northeastern Nigeria is struck by insurgency. Essentially, sustainability in economic growth is dependent on achievement of …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Adeleye O. Oyebade Mni
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Adeleye O. Oyebade Mni
Economic and Financial Review
Food is defined by Britannica, a web-based encyclopaedia, as any substance consisting of protein, carbohydrate, fat, and other nutrients used in the body of an organism to sustain growth and vital processes, and to furnish energy.8 In a similar definition, Wikipedia described food as any substance consumed to provide nutritional support for an organism; adding that food is usually of plant, animal or fungal origin, and contains essential nutrients. The above definitions explain why food is viewed as an essential need of life. However, the production of food has been declining in recent times for some reasons, including the adverse …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Kabir Ibrahim Mnia, Fnim, Acc
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Kabir Ibrahim Mnia, Fnim, Acc
Economic and Financial Review
This paper seeks to advise on how to tackle the skyrocketing prices of food being experienced today all over the nation and to get the Government to take urgent and proactive actions to avert the pain being experienced by the entire Nigerian people.
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Gabriel S. Umoh
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Gabriel S. Umoh
Economic and Financial Review
This paper reviews food crisis and its causes in Nigeria. It takes the position that food crisis has been simmering in Nigeria for the past couple of years and identifies policy instability, poor policy implementation and declining household purchasing power, among others as the major causes of food crisis. It recommends strong policy support and implementation, automatic indexation of wages and pensions and other measures to curb food crisis in the country.
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Alwan A. Hassan
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Alwan A. Hassan
Economic and Financial Review
Nigeria suffers from food insecurity and poverty. It is estimated that the number of hungry people in Nigeria is over 53 million, which is about 25.0 per cent of the country’s total population of about 212 million. Also, about 43.0 per cent of Nigerians live below the poverty line. These statistics are worrisome, given that Nigeria, in the 1950s and 1960s, was not only self-sufficient in food production, but was also a net exporter of food to other regions of the continent (Ajayeoba, 2010). A nation is food secure when food is available and accessible in sufficient quantity and quality …
Special Remarks, Kingsley Obiora
Special Remarks, Kingsley Obiora
Economic and Financial Review
The theme of this year’s Seminar, Food Security in Nigeria: Options for Policy, is apt, timely and consistent with the current efforts of this administration and the Bank in finding sustainable solutions to the food security challenges confronting us as a nation. As we all know, food is a basic need of every man and key to socio-economic stability. The ability of a country to feed its people, and perhaps extend the surplus to other countries, is one of the key indicators of good standing in the comity of nations. The World Food Summit (1996), defined food security as a …
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Emmanuel A. Onwioduokit
Averting The Looming Food Crisis: A Clarion Call To Immediate And Near-Term Policy Action, Emmanuel A. Onwioduokit
Economic and Financial Review
Discussions on food security have gained traction in the recent past, especially in Africa and other developing economies. Several horrifying images of famished families, particularly around “The Horn of Africa” including Somalia, Ethiopia, and some parts of Kenya, projected globally in both the print and electronic media vividly illustrate the perils of food crises. In Nigeria, food constitute a substantial share of family budgets, particularly for low-income households. When prices of essential foods items increase poorer people suffer the adverse impacts more disproportionately. While clothing and shelter are basic necessities of life, food remains the most vital, given its centrality …
State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins
State's Fiscal Dependency And Implications On Monetary Management In Nigeria, Akinboyo O. Lawrence, Apinran O. Martins
Bullion
This study examines fiscal management by States in Nigeria and its potential to sustain growth and development. The study used secondary data from the Bank's Statistical Bulletin and the Nigeria Bureau of Statistics. Information on monthly allocations to States, internally Generated Revenue, Debt stock, total Revenue, and Total expenditure were used to examine fiscal imbalance in the States. Data were collected on statutory allocations to States by the Federation Account Allocation Committee (FAAC), Internally Generated Revenue (IGR), States' debt stock, capital and recurrent expenditure from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Descriptive statistics …
Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo
Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo
Bullion
While the short term measures to reduce recurrent expenditure are necessary conditions for fiscal sustainability, the long term imperative is to increase revenue. Thus, efforts should be made by the fiscal authorities in Nigeria to pursue the policy of balancing of expenditure with revenue improvements. The issues of the underperformance of the capital budget should be reversed before savings from cuts in recurrent expenditure can be diverted to the financing of capital expenditure. From the analysis, we say that removal of fuel subsidy would no doubt have some social and economic hardship on the people in the short run, However, …
Monetary And Financial Sector Policies In The Year 2000 Budget Of The Fgn, M. O. Ojo
Monetary And Financial Sector Policies In The Year 2000 Budget Of The Fgn, M. O. Ojo
Bullion
The paper attempts to review the monetary and financial sector policies of CBN during the 2000 fiscal year. It also discussed the issues and problems of implementation of the policies. The paper observes that the Nigerian economy witnessed some anxious moments during the 1999 fiscal year. Severe Pressures built-up in the economy mainly because of the expansionary fiscal policy of the Federal Government during the first five months of the year. lf price of oil in the international market continue to rise above budget expectations and expenditure does not rise in tandem, finance is likely to constrain achievement of most …
External Sector Performance And The External Sector Policy Measures In The Year 2000 Federal Budget., Mike I. Obadan
External Sector Performance And The External Sector Policy Measures In The Year 2000 Federal Budget., Mike I. Obadan
Bullion
The paper briefly reviews the performance of the external sector in the first half of year 2000 and then goes on to appraise the external sector policy measures in the federal budget for the year under review. The study reveals that the The Presidential directive on government ministries, departments and agencies to-Patronise home-made goods as first choice is commendable. The paper suggests that if monitoring mechanisms are put in place, it will ensure full compliance. Private sector operators, individuals, should be encouraged to take a cue from government departments. The Year 2000 customs tariff measures largely address the concerns of …
Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu
Fiscal Federalism: Revenue Allocation For Economic Development In Nigeria., T. O. Okunrounmu
Bullion
From colonial administration to independence in 1960 and 35 years of self-rule, revenue allocation in the Federal Republic of Nigeria has had a chequered history. It has been subject of intensive lobbying by politicians in the attempt to have their wishes engrained in the Constitution. This paper is prepared in three parts. Part I is a theoretical overview of fiscal federalism while Part II reviews the Nigerian experience with Fiscal Federalism. Part III analyses proposals for an effective fiscal Federalism that would enhance economic development.