EFFECTS OF MACRO-ECONOMIC VARIABLES ON FISHERIES SUPPLY IN NIGERIA (1980-2019)
2022
Ahmed Olugbenga BUSARI | Abolupe Oluyemi AYANBOYE
Fish is an important source of animal protein in Nigeria. The per capita consumption of fish in Nigeria has suffered a serious decline in the recent years due to declining production. The study investigated the macro-economic determinants of fisheries supply in Nigeria between 1980 and 2019. Secondary data spanning 39 years (1980 – 2019) were sourced from reputable organizations. Food and Agricultural Organization database (FAOSTAT) Nigeria Bureau of Statistics (NBS) and Central Bank of Nigeria (CBN) Data were analyzed using mean, percentages coefficient of variation, Augmented Dickey-Fuller statistics, Johansen Co-integration and vector error correction model (VECM) result of statistical analysis revealed that variable of the model was stationary after first difference with co-integration among the variable Descriptive results shows the fluctuation in the agriculture capture fisheries and total fisheries supply over the study period with a mean of 88,890.48 tonnes, 453,278.80 tonnes and 547,043.50 tonnes respectively average annual growth rate of agriculture capture fishery and total fishery production were 502.42 percent, 187.98 percent, and 298.59 percent respectively. VECM results revealed that population has an asymmetric effect on total fishery supply in the short and long run. However, exchange, interest, and inflation rate negatively influence fishery supply, the study concludes that population, exchange, interest, and inflation rate significantly influence total fisheries supply in the study area. Thus, it is recommended that there is a need for significant improvement in aquaculture production and reduction in fish importation to cushion the effect of exchange, inflation, and interest rate on the economy.
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