Economic Analysis of Cassava (Manihot esculenta Crantz) Production in Akinyele Local Government Area of Oyo State, Nigeria
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The study examined the economic analysis of Cassava production in Akinyele Local Government Area of Oyo State. Multistage random sampling technique was used to select a sample size of 180 respondents for the study. Data collected were analyzed with descriptive statistics such as frequency, percentages, and chats while inferential statistics used were budgetary techniques and regression analysis. The results showed that majority of the respondents (83.9%) were males, 75.6% of the farmers were married and 83.3% of the respondents were having family size of 4-9. Majority of the respondents (88.3%) had formal education, 80.5% of the respondents had farming experience of more than16 years. Costs and returns for cassava production were analyzed with budgetary techniques and the result revealed that for a hectare of cassava there was gross margin of ₦72,318.75 Kobo and the net profit of ₦64,575.00Kobo with a cost benefit ratio of ₦1.85Kobo implying that for every ₦1.00 invested in cassava production, there was corresponding profit of 85Kobo. Nevertheless, the result further showed there was no efficient allocation of variable inputs (resource) due to negative coefficients of these explanatory variables but there was significant relationship to the net profit of the cassava farmers in the study area. Therefore, there is need for cassava farmers to improve on their resource allocation to make their production robust and to boost their productivity. The study further recommended that the cassava farmers should be trained on latest innovative practices in cassava production and proper advisory services must be given to them by the subject matter specialists on resource allocation for optimal profitability in their production in Akinyele Local Government Area of Oyo State, Nigeria.
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