AGRICULTURAL REVAMPING VIA MAJOR CAPITAL OUTLAY: THE ANTIDOTE TO FOOD INSECURITY CHALLENGES IN NIGERIA

• Published in: Academy of Entrepreneurship journal 2020-12, Vol.26 (4), p.1-13
• Main Authors: Omodero, Cordelia Onyinyechi, Adetula, Dorcas Titilayo, Iyoha, Francis Odianonsen
• Format: Article
• Language: English
• Subjects: Agriculture; Capital expenditures; Coronaviruses; COVID-19; Entrepreneurship; Farmers; Food safety; Food security; Government spending; Hairdressers; Informal economy; Literature reviews; Loan agreements; Mortality; Rural areas
• ISSN: 1087-9595; 1528-2686

Food insecurity in Nigeria has necessitated this study which emphasizes agricultural revamping as the antidote to the prevailing circumstance of food crisis in the country. This study draws the attention of the present administration to the urgent need for significant capital investment in agriculture as a means to proffer a permanent solution to food insecurity in Nigeria. This study employs literature review approach and discovers that the factors impeding food safety in Nigeria include farmers' lack of access to the credit facility, insufficient farmlands, security threat on farmers and farmers' lack of education. However, relevant econometric techniques and statistical tools are specifically applied to examine the impact of government expenditure and agricultural output on food safety using a secondary source of data spanning from 2008 -2019. From the findings of this study, agricultural output has a considerable influence on food safety, but government expenditure on agriculture is yet to gain momentum in affecting adequate food production in the country. Thus, this study concludes that there is an urgent need for the government to invest significantly in agriculture which serves as an antidote to food security challenges in Nigeria.