| Title: | Effects Of Oil Exploration On Agricultural Development In Nigeria, 1990-2017 |
| Author(s): | Odukwo C. C. & Morris R.E. |
| Abstract: | The study researched the effect of oil exploration on agricultural development in Nigeria. Oil exploration has led to environmental problems in the producing communities. This has adversely affected livelihood activities in agriculture leading to low income. The purposes of the study include examining the effect of gas flaring on agricultural output; determine the effect of oil spill on agricultural output; examine the effect of soil pollution on agricultural output in Nigeria. Information was gotten from the Central Bank of Nigeria (CBN) bulletin and World Bank Environmental and Growth Index from 1990 to 2017. Descriptive statistic and the Vector Error Correction Method of analysis were used to analyze the data. The Johansen co-integration test carried out found that a long run association occurs among the considered variables. The outcome showed that air pollution (AP) is negatively and significant related to agricultural development, proxied by agricultural output, in Nigeria; and also there is a negative and significant relationship between agricultural development and water pollution (WP). The result also showed that an undesirable and important association occurs amongst agricultural development and soil pollution (SP). The result of the VECM indicated that the coefficient of determination is 0.53. This means that approximately 53 percent change in the dependent variable AGRO is explained for by the independent variables (AP, WP and SP), whilst the remaining 47 percent is explained for by other variables not included in the model. The F-statistic indicates the VECM estimate is statistically significant. The ECM (-1) -0.676 is rightly signed. This shows the speed of adjustment of the variables. This implies that the variables move quickly to convergence. The study calls for a strict enforcement of environment laws governing oil exploration and exploitation in Nigeria. Government should promote and initiate intervention programs such as investment in research and development, carbon tax policy and other regulation policies to mitigate the activities of oil companies in Nigeria. That government at all levels in collaboration with oil companies should endeavor to put adequate security in place to check the nefarious activities of those who vandalize oil installations. |
| Keywords: | Oil, Exploration, Agriculture, Development |
IJAAMSThe International Journal of Applied Economics, Agriculture and Management Sciences (IJAAMS) is a publication of the Department of Agricultural & Applied Economics of the Rivers State University, Port Harcourt, Rivers State, Nigeria [...]
Department of Agricultural and Applied Economics,Rivers State University, Port Harcourt, Nigeria.
+234 (0)8039312859
ijaams@ust.edu.ng
Copyright © IJAAMS. All Rights Reserved.
Powered by 