Profitability of snail marketing in Benin Metropolis, Edo State, Nigeria

The study examined the profitability of snail marketing in Benin metropolis, Edo state, Nigeria. Random sampling procedure was used to select 60 respondents from selected markets in the study area. Structured questionnaire and interview schedule were used to collect primary data from the respondents. The data were analyzed using descriptive statistics, market margin, gross margin and marketing efficiency ratio. The results showed that marketing of snail in Benin metropolis was predominantly a female activity. The result also shows that 44.9% of the respondents were above 50 years of age. Majority (58.3%) of the respondents had household size of five or less than five persons. The predominant channel of distribution for snail marketers was from hunters/producers, to wholesalers, to retailers and finally to the consumers. Snail marketing was found to be profitable with the marketers making a gross margin of ₦3,255.90 per 196 small size snails sold in the study area per week. Some of the constraints faced by the marketers were high cost purchase, high cost of transportation and inadequate storage facilities. It was recommended from the findings of the study among others, that snail marketers should form cooperative societies so as to tackle the problem associated with high cost of purchase.Keywords: marketing margin, gross margin, marketing efficiency ratio, snai

Costs and return analysis in rubber latex production in Edo State, Nigeria

The study examined the costs and return analysis in rubber latex production in Edo Sate, Nigeria. Multi-stage sampling method was adopted to select 96 smallholder rubber framers for the study. The first stage was a purposive sampling of two LGAs and then simple random sampling of 6 villages each from the two LGA. Finally eight rubber farmers were selected using the simple random sampling technique from the 12 villages given a total of 96 selected rubber farmers. Data were collected using questionnaire alongside scheduled interview. Data collected were analysed using descriptive statistics and budgetary analysis. The results of the socioeconomic characteristics shows that the mean age of the farmers was 43 years, mean household size was four persons and mean farming experience was 11 years. Majority (82.3%) of the respondents were male and 86.46% were married, while 92.7 % of the farmers used hired labour while the average farm size was 3.8 hectares The result of the budgetary analysis indicated that rubber production was profitable in the study area with a gross margin and net farm income of ₦162, 000 and ₦149, 408 per/ha respectively. However, the return on investment of 0.71 indicated a low profit level. The major constraints faced by the farmers were high cost of labour, incidence of pests and diseases, inadequate credit facilities, inadequate extension services among others. It was recommended that extension services should be provide to assist the farmers in tackling the problems associated with pests and diseases as well as training of rubber farmers in the area of management practices in rubber plantation.Keywords: Constraints, Costs and Return, Gross Margin, Rubber latex Productio

Economic viability of okra (Abelmoschus esculentus) production in Ika South and North East Local Government Areas of Delta State, Nigeria

This study examined the economic viability of okra (production in Ika South and North East Local Government Areas of Delta State. The specific objectives of the study were to describe the socio-economic characteristics of the okra farmers, assess the profitability and viability of okra production and identify the constraints faced by okra farmers in the study area. Data were obtained from 113 okra farmers selected using multi-stage sampling procedure through the use of structured questionnaire and interview schedules. Data obtained were analysed using descriptive statistics and budgetary technique. Results showed that 51.3% of the okra farmers were females and 90.3% were married with a mean age of 47 years and mean farming experience of 20 years. The average household size was 5 persons while the mean farm size was 2.03 hectares. The total revenue of the okra farmers was ₦235,642.161/ha while the total variable cost was ₦76,022.24/hagiving a gross margin of ₦159,619.92/ha. The total fixed cost was ₦2,735.11/ha resulting in a net return of ₦156,884.81/ha. The benefit-cost ratio of 2.99 and return on investment of 2.03 indicating that okra production in the study area was viable and profitable. The major problems identified by the okra farmers were difficulty getting funds, bad access roads to farms, difficulty in controlling weeds and pests and diseases. The study concluded that okra farming is profitable in the study area and as such efforts should be made by government to encourage farmers to invest in okra production and young people should be encourage into okra production in the study area.Keywords: benefit-cost ratio, economic viability, okra production, return on investment, gross margi

Economics of backyard poultry production in Akure South Local Government Area of Ondo State, Nigeria

This study examined the economic analysis of backyard poultry production in Akure South Local Government Area of Ondo State, Nigeria. The objectives of the study were to examine the socio-economic characteristics of poultry farming, determine the profitability of backyard poultry production, and identify its constraints. Primary and secondary data were collected during the study; primary data through personal interview with the respondents (farmers), using well-structured questionnaire. The simple random sampling method was used to select the farmers that were interviewed. Descriptive statistics such as tables, frequency distribution, and percentages were used to present the socio-economic characteristics of the poultry farmers. Gross margin analysis was used to determine the profitability of backyard poultry production in the study area. The analysis showed that 40 per cent of the respondents were males and 60 per cent were females. The average age of the respondents was 36 years, and the average years of schooling was 9. Also, the average household size was six persons. The study showed that backyard poultry production (layers) is a profitable venture in the area, with a net profit of N271.95 ($2.36) per bird. The major constraints in the study area were labour and finance. The study concluded with suggestions for increasing the productivity of poultry production in the study area in particular and in Nigeria as a whole

Micro-Credit Access and Profitability on Crop Production in Orhionmwon Local Government Area of Edo State, Nigeria

This study focused on the effect of micro-credit on the profitability of crop production in Orhionmwon Local Government Area of Edo State, Nigeria. A sample size of 166 small-scale farmers was randomly selected from the farming communities in Orhionmwon Local Government Area. Ninety two (92) beneficiaries and 74 non-beneficiaries were randomly selected from the study area. A well-structured questionnaire and scheduled interviews were used to obtain data from the farmers. The data collected were subjected to descriptive statistics such as frequency counts, percentages and mean scores. The mean scores were compared using the t-test. Results showed that the respondents in the study area were almost uniformly distributed gender-wise. The females were however slightly more, both among the beneficiaries (58.7%) and non-beneficiaries (52.7%). The mean years of farming for both the credit beneficiaries and non-beneficiaries were 32 years and 34 years respectively. Most of the farmers had farm holdings less than 2.5 ha. The profit margin obtained from the beneficiaries was higher than that of the non-beneficiaries. For maize, it was N145,40.66/ha against N139,178.69/ha, for yam, N671,588.06/ha against N552,927.93/ha, for cassava N377,194.99/ha against N223,000.74/ha and for plantain N681,416.68/ha against N430,756.59/ha. Untimely delivery of loan was indicated as the greatest constraint to loan acquisition by the beneficiaries while the non-beneficiaries identified high interest rate charges by the microfinance bank and distance as the greatest reasons for not accessing loans

Profitability analysis of cassava processing in Uhunmwonde Local Government Area, Edo State, Nigeria

This study examined the profitability of cassava processing in Uhunmwonde Local Government Area, Edo State, Nigeria. The specific objective was to estimate costs and returns of processing cassava into different products. Two-stage sampling technique was employed to select 107 processors from seven districts in the study area known for high cassava processing activities. Data were collected using structured questionnaire alongside scheduled interview. The data collected were analyzed using descriptive statistics, net return and benefit-cost ratio. The study revealed that 63 % of the respondents were females and 37%were within the age range of 41-50 years with an average of 44 years. Also, 66.36% were married and a mean household size of 5 persons. About 76.64% had formal education with an average processing experience of 18 years. The study further revealed that garri was the most significant product, followed by fufu, starch, abacha, flour and chips. Analysis of the costs and returns revealed that processing cassava to garri gave the highest gross margin, net return and benefit-cost ratio of ₦3,689.30, ₦3,306.79 and 1.81 respectively per week, though processing cassava to the six different products was profitable and viable. The study also shows that the major constraints faced by processors in the area include lack of government aid, lack of storage facilities and inadequate capital. It was therefore recommended that farmers should process their cassava tubers into any of the identified products before sales, especially garri.Keywords: Cassava Chips, Flour Fufu, Starch, Abacha, Gross Margin, Benefic-cost rati

Cyber risks in electronic banking: exposures and cybersecurity preparedness of women agro-entrepreneurs in South- South Region of Nigeria

This paper examines cyber risks exposures and cybersecurity preparedness of women agro-entrepreneurs. Women were exposed to risks of unsuccessful transaction through mobile apps and POS in which their accounts were debited, they were also exposed to social engineering threats such as smishing and vishing. With respect to cybersecurity preparedness, the women adopted few measures such as avoiding lonely ATM and ignoring text messages and email that request for banking details. Household size, cooperative membership, educational level and internet access were significant factors in accessing digital financial products and services. These findings call for interventions through policies that will enhance customer education to reduce vulnerabilities especially among women