Effect of Agricultural Funding on Food Security in Nigeria (Published)
This study examined the effect of government agricultural expenditure on food insecurity in Nigeria, with food inflation used as a proxy for food security. The study adopted an ex post facto research design and relied on annual time series data covering the period 1990 to 2023. Data were sourced from the Central Bank of Nigeria, the National Bureau of Statistics, and the World Development Indicators. The Ordinary Least Squares multiple regression technique was applied to analyse the relationship between government agricultural expenditure, exchange rate, interest rate, inflation rate, and food inflation. The results showed that government agricultural expenditure had a positive but statistically insignificant effect on food inflation at the 5 percent level. Inflation rate was the only variable that had a positive and statistically significant effect on food inflation. The findings indicated that government spending on agriculture, as currently structured and implemented
Keywords: Economic Development, Food Security, Government Expenditure, Nigeria, agricultural finance, agricultural funding, food inflation, public spending