Trend and Growth Rate Analysis of Agribusiness Small and Medium- Sized Enterprises’ Production and Export in Nigeria (1980-2022)
2024
Nwachukwu, C.N. | Mbanasor, J.A. | Agwu, N.M. | Chukwu, J. | Ezeh, C.I.
The study delved into the trend and growth rate analysis of agribusiness small and mediumsized enterprises’ production and export in Nigeria (1980-2022). The specific objectives were to analyze the exponential trend; instantaneous and compound rates of growth and doubling time for compound growth rate of agribusiness small and medium-sized enterprises in Nigeria. Secondary data obtained from reputable institutions like the Central Bank of Nigeria annual reports and statement of accounts, Food and Agriculture Organization bulletins, United Nations and World Bank databases. National Bureau of Statistics and Small and Medium Scale Enterprises Development Agency of Nigeria were employed. Data were analyzed using trend analysis. Results showed that the estimated exponential growth equation for SMEs’ output and exportation in Nigeria showed that the time variable was positive and statistically significant at a 1% level within the period under review. The computed instantaneous and compound rates of growth in quantity produced and exported by agribusiness SMEs in Nigeria revealed a time trend slope coefficient of 0.312 and 0.221 for a given change in the quantity of agribusiness SME production and exportation, respectively. It was concluded that time is a major determinant of the quantity of agribusiness SME production and exportation within the period under review. Based on findings, the study recommended that these small and medium-sized agricultural enterprises ought to receive input subsidies and accessible loans to guarantee higher output and exports.
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