The Impact of Exchange Rate Volatility on Rice Output in Nigeria

Paul Atanda Orebiyi, Etim Essien Bassey, Michael Akpan Udofia and Blessing Friday Usanga
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Paul Atanda Orebiyi: Department of Economics, University of Uyo, Uyo, Nigeria
Etim Essien Bassey: Department of Economics, University of Calabar
Michael Akpan Udofia: Department of Economics, University of Uyo, Uyo, Nigeria
Blessing Friday Usanga: Department of Economics, University of Uyo, Uyo, Nigeria

African Journal of Commercial Studies, 2025, vol. 6, issue 4

Abstract: The effect of the volatility of the Nigeria’s exchange rate on the rice output in Nigeria was assessed under the fully modified ordinary least squares estimation method and employing annual time series data from 1980 to 2024. The exchange rate volatility variable was obtained using the general autoregressive conditional heteroskedasticity method (GARCH). The study found rice production to be positively and substantially influenced by the volatility of the Nigeria’s exchange at a five per cent level of significance. Policy recommendations include adoption of a managed float exchange rate system by the Central Bank of Nigeria, provision of agricultural extension support to local rice farmers, encouragement of sustainable fertilizer use, investment in arable land expansion, and promotion of technology in rice cultivation and processing.

Keywords: Rice output; Exchange rate; volatility (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cwk:ajocsk:2025-79

DOI: 10.59413/ajocs/v6.i4.6

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