Technological Innovation and Agricultural Productivity in Nigeria Amidst Oil Transition: ARDL Analysis

Joel T. Adeyemo, Adel Ahmed, Dominic T. Abaver, Hosam Alden Riyadh, Mosab I. Tabash and Adedoyin Isola Lawal ()
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Joel T. Adeyemo: Department of Economics, Bowen University, Iwo 23401, Nigeria
Adel Ahmed: Amity Business School, Amity University Dubai, Dubai International Academic City, Dubai P.O. Box 345019, United Arab Emirates
Dominic T. Abaver: Department of Laboratory Medicine and Pathology, School of Medicine, Faculty of Medicine and Health Sciences, Walter Sisulu University, Eastern Cape 5117, South Africa
Hosam Alden Riyadh: Department of Accounting, School of Economics and Business, Telkom University, Bandung 40257, Indonesia
Mosab I. Tabash: Department of Business Administration, College of Business, Al Ain University, Al Ain P.O. Box 64141, United Arab Emirates
Adedoyin Isola Lawal: Department of Economics, Bowen University, Iwo 23401, Nigeria

Economies, 2024, vol. 12, issue 9, 1-30

Abstract: In contemporary discourse, Nigeria’s reliance on its oil sector is proving insufficient for sustained economic growth. The volatility of oil prices, geopolitical tensions, technological advancements, and environmental sustainability concerns have exposed the vulnerabilities of an oil-dependent economy, emphasizing the need for diversification and a renewed focus on agriculture. This study investigates the relationship between technological innovation and agricultural productivity in Nigeria, contrasting it with the oil sector. Using the ARDL estimation technique, our findings reveal a significant negative influence of immediate lagged agricultural productivity (AGTFP(−1)), indicating technological constraints. Technological innovation, proxied by TFP, shows a substantial impact on agricultural productivity, with a negative long-term effect (−90.71) but a positive, though insignificant, impact on agricultural output (0.0034). The comparative analysis underscores that the agricultural sector tends to benefit more from technological innovation than the oil sector. This highlights the critical need to prioritize technological advancements in agriculture to drive sustainable growth and economic resilience in Nigeria.

Keywords: technological innovation; agricultural productivity; oil; ARDL; Nigeria (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2024
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