Browsing by Author "Bethel Ibukunolu LAMINA"

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    Volatility in Fuel Price and Exchange Rate on Food Prices in Nigeria
    (Lead City University, 2023-12) Bethel Ibukunolu LAMINA
    This thesis investigates the relationships influencing food prices in Nigeria from 2000 to 2022, considering the interplay of fuel prices, exchange rates, Prices of other goods, Government legislation, Weather conditions, and Consumer income. The analysis reveals crucial insights into both long-term and short-term dynamics affecting food prices. The study establishes a positive long-term impact of exchange rates on food prices, aligning with Nigeria's import-dependent nature. Higher exchange rates contribute to increased food prices due to elevated import costs. A positive and significant relationship is identified between the prices of other goods and food prices. Contrary to assumptions, the study uncovers a negative long-term impact of fuel prices on food prices, challenging conventional beliefs. The relationship between fuel prices and food prices is influenced by various factors, demonstrating the complexity of this association. Increased government spending on agriculture is found to have a negative long-term impact on food prices, emphasizing the need for a nuanced understanding of the relationship between government expenditures and food prices. Adverse weather conditions are shown to negatively impact food prices in the long term, underscoring the complexity of the relationship between weather and food prices. The study identifies both positive and negative short-term effects on food prices, indicating responsiveness to various factors. The presence of a highly significant Error Correction Mechanism (ECM) suggests strong short-term corrections to maintain long￾term equilibrium. The multifaceted nature of the relationships among exchange rates, prices of other goods, fuel prices, government legislation, weather conditions, and consumer income underscores the need for a comprehensive understanding when analyzing food price dynamics in Nigeria. Keynotes: Fuel price, exchange rate, food price, volatility