Economics
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Item Effect of carbon footprint on agricultural productivity in Nigeria: an empirical analysis(2024-05) Oyeranti, O. A.This study examines the relationship between carbon footprint (CFP) components and agricultural productivity in Nigeria, a critical area of investigation given the country's reliance on agriculture for economic stability, food security, and employment. Using time series data from 1990 to 2020, sourced from the Central Bank of Nigeria (CBN) and the World Bank, this study analyzes the effect of carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O) emissions on agricultural output. Employing Robust Least Square (RLS) regression and the Error Correction Model (ECM), the study finds that CO2 and CH4 emissions negatively affect agricultural productivity, with 1% increases in CO2 and CH4 emissions leading to approximate decreases in agricultural output by 2% and 3%, respectively. Conversely, a 1% increase in N2O emissions correlates with an 8% increase in agricultural output, attributed to the use of nitrogen- based fertilizers. The results confirm the presence of long-run equilibrium relationships among the variables, with approximately 32% of the previous year's disequilibrium corrected annually. The study's findings align with the Environmental Kuznets Curve (EKC) hypothesis, suggesting that Nigeria is in the early stages of economic growth where environmental degradation is pronounced. These insights underscore the need for sustainable agricultural practices and effective carbon emission mitigation strategies to enhance food security and support economic growth in Nigeria.Item Interrogating the effects of carbon-dioxide (CO2) emissions on life expectancy in Nigeria: an ARDL approach(2024) Oyeranti, O. A.This study examines the relationship between CO2 emissions and life expectancy in Nigeria, employing an Autoregressive Distributed Lag (ARDL) model to analyse both short-run and long-run effects. The study utilises data spanning from 1986 to 2020, focusing on C02 emissions from different sources—solid, liquid, and gaseous fuels—alongside economic growth indicators and government health expenditures. The findings reveal that CO2 emissions from all sources negatively affect life expectancy in both the short-run and long-run analyses, with emissions from solid and liquid fuels showing particularly strong adverse effects. Conversely, the study finds that higher GDP per capita and increased government health expenditure significantly enhance life expectancy, acknowledging the critical role of economic development and health funding in improving public health outcomes. The study confirms the necessity for comprehensive environmental policies aimed at reducing pollution and promoting cleaner energy alternatives. Additionally, it highlights the importance of economic policies that foster growth and health sector investments, suggesting these as dual avenues for enhancing the well-being and longevity of the Nigerian population. This paper contributes to the existing literature by providing empirical evidence of the direct and indirect effects of environmental and economic factors on public health. It offers valuable insights for policymakers on the importance of integrated strategies that address both environmental sustainability and economic development toward improving life expectancy in developing countries like Nigeria.Item Forest liquidation, rural agrarian poverty and growth in Nigeria(Academic Staff Union of Universities (ASUU), Nigeria, 2021-12) Oyeranti, O. A.; Ishola, O. A.This paper assesses forest resource liquidation within the context of rural agrarian poverty and growth in Nigeria, using annual and quarterly data from 1990 to 2016, and 2001 to 2019. Descriptive statistics and correlation analysis were employed to examine how forest resource utilisation is associated with rural agrarian poverty and economic growth. Findings revealed that forest resources have consistently been exploited in an unrestrained manner in the last 26 years, with shifting agriculture and urbanisation as major drivers. In addition, efforts to replenish these resources have not been sufficient enough to ensure their sustainability; thus the share of the forestry subsector has been extremely low. However, as forest depletion took place over time, rural agrarian poverty in Nigeria declined, due to the release of additional land that became available for crop and livestock production, thereby signifying the prevalence of a deep-rooted dichotomy between forest and agriculture in the country. The study recommends the replenishment of lost forest cover across the country, discouraging the primitive practice of shifting agriculture, ensuring balanced development to check rural urban drift, and the development of a national accounting system for the efficient management of forest resources.Item Exports trade, employment and poverty reduction in Nigeria(Emerald Group Publishing Limited, 2012) Babatunde, M. A.; Oyeranti, O. A.; Bankole, A. S.; Ogunkola, E. O.Purpose – Poverty reduction remains one of the main goals of development efforts, as evidenced by the adoption of the Millennium Development Goals by most developing countries and international agencies. The purpose of this paper is to explore the relationship between trade (exports) and employment and how the relationship reduces poverty through the instrumentality of employment, with a focus on Nigeria. Design/methodology/approach – The paper takes the form of descriptive analysis. Findings – Evaluating the case for Nigeria, the authors find that oil exports which drives economic growth do not provide the needed employment to reduce poverty, while agricultural trade, particularly exports, are capable of reducing poverty and inequality in Nigeria through the channel of employment and agricultural productivity growth. Originality/value – The paper makes a link between export trade, employment and poverty reduction in Nigeria.Item Exchange rate and macroeconomic aggregates in Nigeria(2012) Dada, E. A.; Oyeranti, O. A.This study analyses the impact of exchange rate on macroeconomic aggregates in Nigeria. Based on the annual time series data for the period 1970 to 2009, the research examines the possible direct and indirect relationship between the real exchange rates and GDP growth. The relationship is derived in two ways using a simultaneous equations model within a fully specified (but small) macroeconomic model, and a vector-autoregressive model. The estimation results show that there is no evidence of a strong direct relationship between changes in the exchange rate and GDP growth. Rather, Nigeria’s economic growth has been directly affected by fiscal and monetary policies and other economic variables particularly the growth of exports (oil). These factors have tended to sustain a pattern of real exchange rate over-valuation, which has been unfavourable for growth. The conclusion is that improvements in exchange rate management are necessary but not adequate to revive the Nigerian economy. A broad program of economic reform is required, which includes among others, a complementary restrictive monetary policy. On the whole, the results are informative.