PERFORMANCE OF COCOA AND OIL-PALM PRODUCTION ON INCLUSIVE GROWTH IN NIGERIA

Over the years, cocoa and oil palm production have been one of the major market of export for international trade and a major source of economic growth in Nigeria. However cocoa and oil palm production has been below expectation as a result of government diverting its attention to the oil and gas sector, which has led to the deterioration in the performance of the agricultural sector. This study therefore examines the relationship between performance of cocoa and oil palm production on inclusive growth in Nigeria in both short and long run covering periods from 1981 to 2014. This study employed Johansen co-integration test to determine the long run relationship between the performances of cocoa-oil palm production on inclusive growth in Nigeria. Also, the Error Correction Mechanism (ECM) was employed to assess both long and short run effects of cocoa and oil palm production on inclusive growth in Nigeria. The result revealed that cocoa and oil palm production exact positive and significant effect on inclusive growth in both short and the long run. This study therefore recommends that the Federal Government of Nigeria should invest in activities that will promote agricultural gains resulting in pro-poor growth. Such investments should include basic and applied agricultural research, agricultural extension and capacity building, irrigation development and agribusiness development