Rubber Production, Utilization and Growth Trends in Nigeria (1974-2020): Implications for Climate Change

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Published: 2023-06-09

Page: 171-179


M. I. E. Edaba *

Department of Agricultural Economics, Faculty of Agriculture, University of Port-Harcourt, Nigeria.

J. C. Onwumere

Department of Agribusiness and Financial Management, Michael Okpara University of Agriculture, Umudike, Umuahia, Abia State, Nigeria.

Q. O. Eboka

Department of Agribusiness and Financial Management, Michael Okpara University of Agriculture, Umudike, Umuahia, Abia State, Nigeria.

I. J. Gbassi

Department of Plant Science and Biotechnology, Rivers State University, Port Harcourt, Rivers State, Nigeria.

*Author to whom correspondence should be addressed.


Abstract

The rubber sub-sector in Nigeria is an indispensable component of contemporary agriculture and economy, providing a host of non-food products that include strategically vital products used in both domestic and critical health care settings. With crude oil contributing about 70% of Nigeria's GDP, other sectors have not fared well especially due to negligence. This study investigates how the rubber sub-sector has fared, with particular reference to rubber production and potential growth across the time span of the study period (1974-2020). Data for the study was collected from the publication of Central Bank of Nigeria (CBN), National Bureau of Statistics (MBS), and Nigeria Meteorological Centre (NIMET). The trend analysis, correlation and mean equality test (using the z-test) where employed in analyzing the data. The doubling and compound time growth rates were also computed. The trend results show that the estimated coefficient of the time variable was a major factor in determining quantity of rubber export and production within the time frame. Thus, quantity of rubber exported increased with time. Again, the growth rate of 19.1% for rubber production and 18.2% for rubber exports implies that the production and exportation of rubber in Nigeria increased at instantaneous levels (at a point in time). The findings further revealed a positive correlation between rubber production, exportation and climate change variables. A significant difference of (t=5.065) existed in the mean quantity of rubber production and exports within the period under review indicating that the mean quantity of rubber production was more than the exported quantity within the study period. The results of this study will therefore serve as tool to share essential information on rubber, refocus attention on the prospects of rubber production and unravel its potential for boosting the Nigerian economy. In particular, the findings will offer an opportunity for proffering lasting solutions to the unemployment situation of the country.

Keywords: Rubber, production, economy, export, climate-change


How to Cite

Edaba , M. I. E., Onwumere , J. C., Eboka , Q. O., & Gbassi , I. J. (2023). Rubber Production, Utilization and Growth Trends in Nigeria (1974-2020): Implications for Climate Change. Asian Journal of Economics, Finance and Management, 5(1), 171–179. Retrieved from https://globalpresshub.com/index.php/AJEFM/article/view/1816

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