Fish Price and Volatility Trends: An Assessment of Nigeria’s Fishery Subsector

Issues centering on fish price volatility and the effects of such on economic units and food security forms the thrust of the research work and remains the drive for a critical study of price volatility in the Nigerian fish subsector. [...] The most interesting feature not addressed by these models is the leverage or asymmetric effect also the GARCH (p, q) model has the unconditional distribution of the Et having fatter tails than the normal distribution but in a GARCH (1, 1) model for the conditional variance, the failure to model the fat-tailed properties lead to spurious results in terms of the estimated risk-return tradeoff. [...] The technique is also a convenient approach for the estimation of long run parameters with unit root and provides a direct test of the economic theory and enables utilization of the estimated long run parameters into the estimation of the short run disequilibrium relationships. [...] The use of the real prices of fish was out of a need to put in account the effect of inflation while studying the price fluctuations. [...] The exchange rate trend over the seven years period revealed a balanced trend from 2009 to early 2015 when the upward trend began which could be literarily attributed to the global fall in oil price but a further downward trend as seen in the crude oil price trend might have led to the exchange rate jump in early 2016 coupled with the devaluation of the naira by the government, however the major f.