Toward achieving sustainable development agenda: Nexus between agriculture, trade openness, and oil rents in Nigeria

Abstract Over the years, agriculture has been considered as a panacea for long-term economic growth believed by physiocracy school of thought. Aligning this with United Nations’ Sustainable Development Goals (specifically UN-SDG-2 which highlights zero hunger), present study empirically complements existing studies exploring interactions between agriculture, trade openness, and oil rents using annual time frequency series data from 1981–2017. A analyses is conducted. First, battery non-stationarity stationarity unit root tests are performed; these range traditional Augmented Dickey-Fuller (ADF) Phillips–Perron (PP) techniques to relatively recent Zivot Andrews (ZA) test accounts single structural break ascertain properties in variables under review. Subsequently, Bayer–Hanck cointegration conjunction Johansen was used analysis. Furthermore, detect direction causality, Toda-Yamamoto Granger Causality alongside impulse response function technique shows insightful outcomes. From empirical results, apparent long-run equilibrium relationship traced outlined over investigated period. The causality results analysis highlight existence one-way links running rents. informative, plausible explanation might be due dwindling market prices. More insights elucidated conclusion section accordingly.