Food Trade Deficits in West Africa: Is There Any Reason for Anxiety?

This study examined the food trade deficits in West Africa from 2000 to 2020. The aim of the study was to determine whether there is any reason for anxiety among the people of West Africa. The study found that West Africa has recorded cumulative positive food trade balance. However, it was also found that some countries within the region have consistently remained in the deficit region of food trade balance and this called for concern, especially that such countries account for over 50% of the region’s total population. The study found that the food production and food trade in the West African region, according to the data from FAO and the World Bank, are indicative of sustained efforts and these have yielded positive results. The study recommends that to manage post-harvest losses, there should be development of knowledge and the capacity of food chain operators to apply safe food handling practices and storage hygiene. Provision should also be made for funds and loans to facilitate the diffusion of better storage containers. The study also recommends that road, energy and market infrastructure improvements will help stem the flood of post-harvest losses and the need to create a stronger investment climate to encourage private sector investment in the food business and to work more closely with farmers to address supply challenges

INFLATIONARY THRESHOLD AND ECONOMIC GROWTH IN NIGERIA

This paper estimates inflationary threshold in Nigeria using all the components of the aggregate demand model. The study used annual time series from 1981 to 2019 and the variables were confirmed to be free from unit root problems using Augmented Dickey Fuller and Ng-Perron Tests. The bounds test results suggested that there was long run relationship among the variables while the short run error correction model showed that the variables were capable of adjusting back to equilibrium in an event of any temporary shock within a year. The study found that the inflationary threshold for Nigeria is 8%. This is because the residual sum of squares was at maximum at 8% while the sum of the coefficients of inflation and the constructed dummy variable remained highest at 8%. It was therefore recommended among other things that central bank of Nigeria should gear its inflation target towards 8%

HOW DOES GOVERNMENT SPENDING SPUR PRIVATE CONSUMPTION, PRIVATE INVESTMENT AND FOREIGN CAPITAL INFLOWS FOR ECONOMIC GROWTH IN NIGERIA?

This study examined the effectiveness of government spending on economic growth in Nigeria through three principal variables: private investment, foreign capital inflows and private consumption using quarterly data covering the period of Q1 2007 to Q2 2020. Data for the study were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin. The study employed impulse response and variance decomposition, dynamic pass-through elasticity and granger causality test with Vector Error Correction Model. The results suggested that a shock in the government spending elicited wide fluctuating from gross domestic product (GDP). The pass-through computation suggested that the short-medium and long-term dynamic elasticity had a positive effect of private consumption expenditure on economic growth. Foreign capital inflows exerted negative elasticity in the entire time horizon while gross capital formation exhibited positive response throughout the chosen time horizon. Finally, the granger causality test suggested that there was causality between the series of government expenditure, gross capital formation and economic growth in Nigeria. The study recommended that when government expenditure is judiciously utilized, it has capacity to spring up other socio-economic activities from the private sector through private investment