Analysing State Financial Dealings on Food Production in Nigeria

International Journal of Economics and Management Studies

© 2021 by SSRG - IJEMS Journal

Volume 8 Issue 9

Year of Publication : 2021

Authors : Sopuruchi Sunday Nwogu, Flora Pius Monyuy, Emmanuel Ojah Ogaba

10.14445/23939125/IJEMS-V8I9P104

How to Cite?

Sopuruchi Sunday Nwogu, Flora Pius Monyuy, Emmanuel Ojah Ogaba, "Analysing State Financial Dealings on Food Production in Nigeria," SSRG International Journal of Economics and Management Studies, vol. 8,  no. 9, pp. 29-34, 2021. Crossref, https://doi.org/10.14445/23939125/IJEMS-V8I9P104

Abstract:

The rate at which food production has declined in the recent past is alarmingly heart-wrecking. Several governments have engaged the economy in different policies and programs to boost the agricultural sector, which on the other hand, promoted food production in Nigeria. But the reality of today reveals that there is a severe and terrible low amount of food available to the citizens and this has promoted hunger as well as heightened hike in the price of food commodities even in the input-good market where producers obtain seeds that were cultivated. The embargo placed on the importation of food commodities did not have a sustainable effect on production either consumption. This is seen in the angle of subsistence production of food which has been the character of farming operations across the states in Nigeria. The study established the fact that if food production is engaged by states through financial dealings with producers and also embarking on agro stimulation programs and policies in the micro economy, then the effect would translate into sustainable food production, thereby availing surplus of food products to the market, shrinking high prices and also reducing hunger. The approach would ultimately affect productivity and employment.

Keywords:

Credit scheme, Food production, Local economy, Policies and Programme, State Financial Dealings.

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