TRENDS AND GROWTH RATES IN FISH IMPORT AND EXPORT IN NIGERIA FOR THE PERIOD 1970 – 2022
Keywords:
Growth Rates, Trend, Fish, Export, ImportAbstract
The study examined the growth rates and trends in fish import and export in Nigeria for the period 1970 – 2022 using time series data. The Secondary data were obtained from National Bureau of Statistics (NBS), Central Bank of Nigeria (CBN) and Federal Inland Revenue Services (FIRS) annual reports. used for this study. Data collected were analyzed using descriptive statistics, graphical charts and exponential growth model. The empirical findings based on the summary statistics revealed that the time series data used were normally distributed but became stationary after first differencing. The minimum fish import (4,230,000) and export (680,000) was recorded in the year 1970, while the maximum fish import (8,590,000,000) and export (386,000,000) was recorded in the year 2022, implying a gradual and consistent upward trend in fish export and import. Also, the trend co-efficient of the fish import (0.0102) and fish export (0.0193) were positive and revealed an exponential growth rate of 1.01% and 1.92%, respectively. Johansen’s trace statistics value of 43.8075 and maximum statistics value of 29.7702 at r = 0 was higher than the critical value of 15.41 at 5% probability level, while both the trace and maximum statistics values of 14.0374 at r = 1 was also higher than the critical value of 3.76 at 5% probability level indicating that significant relationship exist between fish import and export in Nigeria. It is recommended therefore that Government should provide enabling environment for fish production in Nigeria and make policy on fish importation in order to protect local production.
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