Commercialization of Plantain Enterprise in Oguta
Chapter One
Objectivesย of theย Study
The general objective of the study was to assess the commercialization of plantain enterpriseย inย Ogutaย Localย Governmentย Areaย ofย Imo State.ย Theย specificย objectivesย include:
- to describe the socio-economic characteristics of the plantain
- examine the production systems of the plantain
- examine resource use efficiency of the plantain farmers.
- estimate the costs and returns associated with plantain
- identify the constraints facing plantain farmers in the
- assess the effect of socio-economic characteristics on profitability
CHAPTERย TWO
ย LITERATUREย REVIEW
ย ย Introduction
Profit is an excess of revenues over associated expenses for an activity over a periodย of time (Pandey, 2002). Every business should earn sufficient profits to survive andย grow over a long period of time. Profitability means ability to make profit from allย business activities of an organization, company, firm, or an enterprise. It is the abilityย of a given investment to earn a return from its use. The term โprofitabilityโ is notย synonymous to the term โefficiencyโ. Profitability is an index of efficiency. Though,ย profitability is an important yardstick for measuring the efficiency, the extent ofย profitabilityย cannotย beย takenย asย finalย proofย ofย efficiency.ย Sometimes,ย satisfactoryย profitย canย markย inefficiencyย andย conversely,ย aย properย degreeย ofย efficiencyย canย beย accompaniedย byย anย absenceย ofย profit.ย Theย netย profitย figureย simplyย revealsย aย satisfactoryย balanceย betweenย theย valuesย receivedย andย valuesย given.ย Itย isย theย abilityย ofย theย enterpriseย to make profit on sales. It is the ability of enterprise to get sufficient returns on theย capitalย and employees (labour)ย used in theย businessย operation.
Profit is the difference between the total gross income from a venture and how much it has cost to produce and market the product. Profitability differs from profit in a very important way. Profitability is not measured in terms of money, but in terms of return onย someย asset.ย Profitabilityย measuresย howย muchย outputย youย canย getย fromย employingย aย certainย amount ofย an asset (Lutz, 2010).
Plantainย Productionย Systems
Plantainsย areย producedย inย aย variety ofย plantingย systemsย inย Nigeria.ย Theseย wereย identifiedย by Akinyemi,ย Aiyelaagbe,ย andย Akyeampongย (2010)ย inย theirย studyย onย plantainย cultivation in Nigeria as including:
- Plantain/CocoaIntercropย whereย plantainย isย plantedย alongsideย cocoaย (Thoebroma cacao) where it serves as a nurse crop during the early stages ofย ย Thisย isย commonย inย theย Westernย statesย ofย Nigeriaย andย inย theย Ikomย areaย of Crossย Riverย state,ย where cocoaย isย an importantย cash crop.
- The Bush Plantainย which isย a complex mixture inย whichย plantainsย areย intercropped within any field crop such as cassava, egusi melon (Citrullusย ),ย cocoyamย (Colocasiaย esculentus)ย andย yams.ย Thisย isย commonย inย theย moreย humidย areaย of theย rainforest belt of theย country.
- The Taungya Farming System in which plantains are grown with forestryspecies such as Gmelina arborea The plantain serves a dual purpose of taking care of the trees and serving as source of income before the maturity of the trees. The crops are phased out once the trees are established. This is commonly practiced in Ogun, Ondo and Imo States.
- The Compound Production system where plantains are grown in variousconvenient points around the compound. Bunch yield is usually high in thisย system and could be attributed to the application of organic matter fromย household
- Plantation production:ย Thisย isย commercialย productionย under
Thisย hasย rapidlyย increasedย inย theย lastย fiveย years,ย butย theย managementย has beenย poorย dueย to lackย of technical know-how ofย ownersย and/or supervisors.
Factorsย Affectingย Profitability
There are many factors which affect the profitability of a farming enterprise. Theseย factorsย mayย includeย sizeย ofย farmland,ย quantityย ofย fertilizerย applied,ย quantityย ofย plantingย materials used, socio-economic characteristics of the farmers etc. Factors affectingย plantainย farmingย inย Nigeriaย wereย identifiedย byย Akinyemiย etย al.ย (2010)ย asย land,ย culturalย practices, labour, pests and diseases, post-harvest handling and storage as the factorsย limiting the production and availability of plantain in Nigeria. On land, he noted thatย the land tenure system which is mainly by inheritance hinders expansion of the farm.ย Heย alsoย highlightedย theย factย thatย thereย hasย beenย noย changeย inย culturalย practicesย adoptedย by farmers across the years as evidenced by the continuous dependence on rainfallย aloneย asย sourceย ofย waterย forย theย crops.
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CHAPTERย THREE
ย RESEARCHย METHODOLOGY
ย Studyย Areaย andย Scopeย of Study
Theย studyย wasย carriedย outย inย Ogutaย Localย Governmentย Areaย ofย Imo State. ย Oguta is a town on the east bank of Oguta Lake in Imo State of southeastern Nigeria. Oguta is a socio-geographic community town with a surface area of approximately 2,025.75 square kilometers. Oguta LGA itself comprises 27 villages. As of 2012, that Oguta’s population was estimated at 20,096.. There are twoย seasons โ wet and dry. The wet season is relatively long, lasting between seven andย eight months of the year, from the months of March to October. There is usually aย short break around August, otherwise termed โAugust Breakโ. The dry season beginsย in late November and extends to February or early March, a period of approximatelyย three months. This local government area was selected because of the predominanceย ofย farming activities, especiallyย plantain farming.
Dataย Collectionย andย Samplingย Procedure
ย Source andย Typeย of Data
Data from both primary and secondary sources were used in this study. The primary data were obtained through the use of structured questionnaire and interview schedule. The secondary data were obtained from textbooks, journals, the Internet, publications (suchย asย Foodย andย Agriculturalย Organizationย FAOย Statisticalย Yearbookย etc.),ย andย otherย relevantย literature.
CHAPTERย FOUR
ย RESULTSย ANDย DISCUSSION
ย Socio-economicย characteristics
Theย tablesย belowย describeย theย socio-economicย characteristicsย ofย plantainย farmersย inย the studyย area.
CHAPTERย FIVE
ย SUMMARY,CONCLUSIONย ANDย RECOMMENDATIONS
ย Summary
This study was on the commercialization of plantain enterprise in Oguta Local Government Area of Imo State. The results obtained shows that 93.75% of the plantain farmers were male and 92.5% were married. The average age was 51.58 years and mean farming experience was 17.98 years. The average household size was 12 persons while the mean farm size was 1.10 hectares. 8.75%, 56.25%, 28.75% and 6.25% had no formal education, had primary education, secondary education and tertiary education respectively. Majority of the farmers (91.25%) practiced mixed cropping, and a larger percentage (60%) relied on their personal savings as source of capital. The results also indicated that an average total cost of N142, 108.86/ha was incurred per annumย andย aย totalย revenueย ofย N435, 780/ha per annum was realized. This gave a profit ofย N293, 371.14/ha per annum. The rate of return on investment was 1.97 implying thatย forย everyย oneย nairaย invested,ย aย returnย ofย N1.97ย andย aย profitย ofย N0.97ย wereย obtained.
The results of the multiple regression analysis revealed that 90.4% of the variation in plantain output was explained by farm size, labour, planting materials (number of suckers) and fertilizer applied. Farm size and planting materials (number of suckers) were significant at 5%. The resource use efficiency ratios revealed that while labour and fertilizer were over-utilized, farm size and planting materials (number of suckers) were under-utilized. Also, 34.7% of the variation in profit was explained by age, farming experience, household size, level of education, marital status and de- suckering.
Theย studyย alsoย revealedย thatย theย majorย constraintsย facedย byย theย farmersย wereย inadequate finance and credit facilities, wind damage and poor extension services.ย Other problems encountered included pest and disease infestation and unavailabilityย ofย fertilizer.
Conclusion
The study shows that plantain farming in Oguta Local Government Area ofย Imo Stateย is profitable.
Recommendations
Theย followingย areย recommendationsย basedย onย the findingsย ofย thisย study:
- Thefarmersย shouldย beย encouragedย to formย cooperativesย asย aย meansย ofย poolingย resourcesย together to meet upย with the required
- Youngpeopleย shouldย beย encouragedย toย goย intoย plantainย farmingย asย majorityย ofย those currently engaged in it are aged. This will help reduce unemploymentย andย youthย restivenessย consideringย theย factย thatย isย aย profitable venture.
- More work should be done in terms of ensuring that farmers adopt betterproduction practices as most of the famers still rely on manual method ofย weedingย and natural fertilityย of the
REFERENCES
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