ABSTRACT
The study assessed the
impact of sesame exports on Nigeria economic growth (1980 – 2018). Specifically, the study estimated the trends
of sesame seed production and exports in Nigeria; estimated the rates of growth
of sesame seed production and exports and thereafter forecast the doubling time
in the growth rate of sesame production and export in Nigeria; estimated the
level of acceleration, deceleration or stagnation in the growth processes of
sesame exports in Nigeria; estimated the
determinants of sesame output and export in Nigeria; evaluated
the impact of sesame export on economic growth and also determined the
existence of Granger causality between sesame export and economic growth in
Nigeria all within 1980 - 2018. The study
made use of time series data sourced from the United State Development
Agency (USDA), Food and Agriculture Organization (FAO), National Bureau of
Statistics and Central Bank (CBN) Statistical Bulletin. Data were analyzed using descriptive statistics and multiple
regression models. The results showed that, the mean quantity of sesame output
in Nigeria was 111,960 metric tons while 55230.00 metric tons of sesame seeds
were exported within the study period. The annual mean value for sesame export
stood at $48,531,282 (N17.3 Billion). The compound growth rates of sesame seed
output and exports were 6.65% and 7.74% respectively. There was
acceleration in the growth rates of sesame production and exports during the
study period. The estimated determinants of sesame production in Nigeria in the
long–run were export quantity of sesame seed, area harvested of sesame,
quantity of sesame consumed, government capital investment in agriculture,
labour force in agriculture and trend variable as they significantly influenced
sesame production at 1%, 1%, 1%, 5%, 1%, 1%, 1% and 1% alpha levels
respectively. In the short run, sesame production responded positively to the
one year lag of quantity of sesame export, the one year lag of area harvested
of sesame, rainfall, government capital investment on sesame production
(proxied by Government capital investment in Agriculture), domestic price of
sesame, value of government loan to farmers, real exchange rate, labour force
in agriculture and quantity of sesame output at 1%, 1%, 1%, 10%, 1%, 1%, 5%, and
10% significant levels respectively. Quantity of sesame production (1%),
quantity consumed of sesame (5%), world price of sesame (10%), nominal exchange
rate (1%), domestic price of sesame (1%) and population (5%) were the
significant variables that determined sesame exports in Nigeria within the
period of investigation in the long run. In the short run, sesame export was
determined by the one year lag of quantity of sesame output, area harvested of
sesame, world price of sesame, government capital investment on sesame
production, the one year lag of quantity consumed of sesame, nominal exchange
rate, domestic price of sesame, population and external reserves all at 1%
significant level except quantity consumed of sesame that positively influenced
sesame export at 10% level. The ECM indicated a feedback of about 78.4% of the
previous year’s disequilibrium from long-run elasticity of the factors
influencing sesame production. Also, the ECM indicated a feedback of about
74.4% of the previous year’s disequilibrium from long-run elasticity of the
factors affecting sesame export. The results also confirmed the
positive and significant impact of sesame export on economic growth in Nigeria.
The result also showed that sesame export
growth causes economic growth and vice
versa. Since there is a positive correlation between sesame seed export
and economic growth in Nigeria, it is therefore recommended that government should put in
place policies to stimulate the sesame sub-sector through the encouragement of
farmers to form cooperatives and financial aid given to them for accelerated
productivity
NWOKOCHA, N (2024). Impact Of Sesame Exports On The Economic Growth Of Nigeria (1980-2018):- Nwokocha Ogochukwu N. Repository.mouau.edu.ng: Retrieved Sep 07, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-sesame-exports-on-the-economic-growth-of-nigeria-1980-2018-nwokocha-ogochukwu-n-7-2
NWOKOCHA, NWOKOCHA. "Impact Of Sesame Exports On The Economic Growth Of Nigeria (1980-2018):- Nwokocha Ogochukwu N" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 17 Jul. 2024, https://repository.mouau.edu.ng/work/view/impact-of-sesame-exports-on-the-economic-growth-of-nigeria-1980-2018-nwokocha-ogochukwu-n-7-2. Accessed 07 Sep. 2024.
NWOKOCHA, NWOKOCHA. "Impact Of Sesame Exports On The Economic Growth Of Nigeria (1980-2018):- Nwokocha Ogochukwu N". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 17 Jul. 2024. Web. 07 Sep. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-sesame-exports-on-the-economic-growth-of-nigeria-1980-2018-nwokocha-ogochukwu-n-7-2 >.
NWOKOCHA, NWOKOCHA. "Impact Of Sesame Exports On The Economic Growth Of Nigeria (1980-2018):- Nwokocha Ogochukwu N" Repository.mouau.edu.ng (2024). Accessed 07 Sep. 2024. https://repository.mouau.edu.ng/work/view/impact-of-sesame-exports-on-the-economic-growth-of-nigeria-1980-2018-nwokocha-ogochukwu-n-7-2