Economic Analysis of Plantain Production in Irewole Local Government Area, Osun State, Nigeria

Tijani, I.A. and Omonona, B. T. and Asaolu, O.F. and Bamiro, O. M. (2009) Economic Analysis of Plantain Production in Irewole Local Government Area, Osun State, Nigeria. Advances in Natural and Applied Sciences, 3 (2). pp. 183-187. ISSN 1995-0772

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Abstract

This paper carried out economic analysis of plantain production to see how profitable it is, and what factors impact on its output. Data for the study was obtained, through random sampling technique involving 100 plantain producers, with the aid of well structured questionnaire. Budgetary technique and multiple regression analysis, involving the use of ordinary least technique (OLS) were employed in analyzing data set for this paper. Budgetary analysis, as revealed by mean net revenue (profit) per hectare by farm size (x1668.75), shows that plantain production is profitable. Multiple regression results, revealed that farm size, hired labour wage, fertilizer and cooperative membership are significant at p<0.05, p<0.05, p<0.01 and p<0.10, respectively. Returns to scale of all inputs used in plantain production was found to be above unity (1.24), showing that plantain producers are in the irrational stage of production. It is thus concluded that plantain production is economically viable. Policy focus, therefore, should address problem of incessant hike in critical agricultural inputs and strengthening of farmers’ cooperative societies at the rural sector, in order for rural farmers to have access to loan facilities that can aid their production to go beyond subsistence level. Key words: Economic, Production function, Returns to scale, Plantain, Osun state, Nigeria

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