MONETARY POLICY AND FOOD SECURITY IN NIGERIA
Enemona Negedu Ameji, Joel Ayenajeyi Elisha , Ilemona Adofu and Obadiah Jonathan Gimba
Volume 9 Issue 3
Abstract
The study analyzed monetary policy and its effect on food security in Nigeria from 1986 to 2022. ARDL modelling was utilized to assess this linkage between food production, money supply, lending rate, credit to private sector, and inflation over the period. The result revealed the presence of long run cointegrating relationship between food production and monetary policy in Nigeria, findings from the short and long run estimation revealed that monetary policy was not significantly affecting food production in Nigeria within the period under review. Prioritizing lending to the agricultural sector, reducing lending rate to the agricultural sector and curtailing inflation was recommended to ensure significant contribution of monetary policy to food security in Nigeria. Keywords: Monetary Policy, Food Security, Agricultural Sector, Nigeria and Time Series Analysis
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