Determinants of Food Inflation in Ondo State, Nigeria

Abstracts This study investigated the determinants of food inflation in Ondo state, Nigeria from 2017 to 2023. The research made use of monthly secondary data from Ondo state budget office from the first quarter of 2017 to the fourth quarter in 2023. The study deployed descriptive statistics, correlation matrix, and Ordinary Least Square (OLS) for the study. The result revealed that factors responsible of food inflation in Ondo state, Nigeria revealed that the root cause for the rising food inflation in Ondo state, Nigeria is caused mainly by insecurity, then followed by price of Premium Motor Spirit (petrol), Internal Generated Revenue (IGR) and rainfall (climate change). In conclusion, the results from this study implies that both state and national securities personnel’sneed to form a synergy (joint security team)in order to tackle insecurity headlong,as this will ensure optimum local food production output which in turn will clash the skyrocketing food prices within the state. Furthermore, the state government should invest massively into mechanize farming (agriculture), hydroponics farming, as well as improved seedling that can withstand the adverse effect of climate change. Lastly, the state government should have support genuine farmers will improve seedlings and fertilizers at a subsidized rate. This work can serve as a comprehensive guide in tackling the crises of food inflation in Ondo state. Nigeria.