%0 Journal Article
%A Omosehin, Olarenwaju
%A Oseni, Joseph
%A Olutumise, Adewale
%A Osabuohien, E. S. C.
%D 2022
%F eprints:17771
%I Emerald Publishing Limited
%J COVID-19 in the African Continent
%K  Fluctuations   Palm oil   Price   Welfare   Palm oil producers   Nigeria
%T Palm Oil Price Fluctuations and Welfare in  Nigeria
%U http://eprints.covenantuniversity.edu.ng/17771/
%X The economic importance of palm oil produced by its producers in food requirement, income  generation, production and consumption has led to a significant increase in its demand over the  years. Thus, this chapter evaluates the effects of palm oil price fluctuations on the welfare of  palm oil producers in Nigeria based on annual time series data (1980–2018). In achieving its  objectives, the study employs Autoregressive distributed lag model (ARDL). The result  establishes the presence of a long-run relationship in the welfare of palm oil producers. The longrun  estimates show that palm oil prices had a positive but insignificant relationship with the  welfare of palm oil producers. In the short-run estimates, palm oil price and the exchange rate  had adverse and significant effects on the welfare of palm oil producers, while the inflation rate  positively and significantly influenced welfare. Therefore, the welfare programme should adopt  policies that will stabilize the palm oil price and other foodstuffs to increase the standard of  living of palm oil producers and raise their literacy levels.