Analysis of factors Affecting Agribusiness in Oyo State, Nigeria

B.F. Fato, A. Oyegbami, C.S. Nwali and J.E. Obute

No 288311, 2017 Annual NAAE Conference, October 16-19, Abeokuta, Nigeria from Nigerian Association of Agricultural Economists

Abstract: Despite the importance of agribusiness in the development process, the sectors face rangeof prqblems and as such this study analyzed the factors affecting agribusiness in Oyo Sfate, Nigeria and specifically: (i) described the socio-economic characteristics of the respondents, (ii) identified the types of agribusiness the respondents are involved, (iii) examined _the level of accessibility to inputs for the various agribusiness and (iv) examined the factors affecting agribusiness in the study area. 1\ multi stage sampling procedure was used to select two local government areas _out of which 120 agribusiness owners were randomly sampled. The mean age of the respondents was 52ye~rs while 52.5 % of the respondents were males with average annual . income of "203,000. The· different agribusiness carried out in the area include crop farming, livestock farming, crop processing, production oflivestock feed, marketing of farm produce among others. Factors affecting agribusiness in the area were found to include insufficient fund, insufficient land, high cost of e_quipment, transportation problem, pest and diseases, high cost of production, and price' fluctuatton of agricultural produce. The chi-square result showed that there were significant relationships between marital status (x2 =28.02, P<0.05), education (x2=61.25, P<0.05) of agribusiness owners and the factors affecting their agribusiness in the study area. Also, Pearson correlation result showed that there were significant relationship between respondent's age (r=0.665, P<0.00£), years offarming experiertce (r=0.243, P<0.05) and the factors affecting their agribusiness involvements. in the study area. The study recommends that the respondents should be encouraged to go into other. types of agribusiness. apart-from-crop farming _in the study area. Also, government should cnc:ourage respondents by making fund available and accessible as loan to respondents sin-:c one or:themajor factors affecting agribusiness is insufficient fund.

Keywords: Agribusiness (search for similar items in EconPapers)
Pages: 6
Date: 2017-10
New Economics Papers: this item is included in nep-agr and nep-bec
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Persistent link: https://EconPapers.repec.org/RePEc:ags:naae17:288311

DOI: 10.22004/ag.econ.288311

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