Browsing by Author "Aina, I. V."

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    Analysis of effect of price variation on rice production in Nigeria (1970 – 2011)
    (Faculty of Agriculture, Nasarawa State Univerisity, 2015) Ayinde, O. E.; Aina, I. V.; Babatunde, R. O.; Falola, A.
    Food price instability is a frequent forerunner of macroeconomic shocks and political turmoil that can discourage long-run investment and curtail growth. The study used descriptive statistics tools to highlight the trend of rice Production over the years in the study area. Time series data of a period of 42 years was obtained from various sources spanning from 1970- 2011 from editions of National Bureau of Statistics review of external trade, National Bureau of Statistics summary and annual abstract of statistics, Central Bank of Nigeria’s economic and financial review and an online database maintained by Food and Agricultural Organization (FAO). The study revealed that price of rice and quantity of production has a positive effect on each other. The Cobweb theory can be used by the government to regulate the response of price to rice production. Since increase in price brings about an increase in production, in line with the theory of Supply which states that the higher the price, the higher the quantity supplied: government should implement policies that will subsidize the price of rice to consumers and increase the level of food security in the country.