Assessment of Pork-Based Agribusinesses in Abakaliki Metropolis of Ebonyi State, Nigeria
Abstract
Despite the lucrative and profitability of pig business, there seems to be paucity of data on pork-based agribusiness in Ebonyi State. To address the problem, the study described the socioeconomic characteristics of pork investors; characterized the pork-based agribusiness; analysed the factors influencing investment in pork agribusiness, determined the costs and returns to pork-based agribusiness; and analysed the constraints to pork agribusiness in the area. A multistage sampling technique involving 2 stages was employed in the selection of pork-based agribusiness investors. Data were collected using structured questionnaire which was administered as interview schedule. Data collected were analysed using descriptive and inferential statistics. Result of the analysis shows that about 84% of the pork-based agribusiness investors were males with an average age of 31 years of which about 61.3% completed tertiary education and earned an average annual income of eight hundred and ninety-eight thousand, four hundred and sixty-two naira (₦898,462). The result further showed that cost of labour, amount realized per month, cost of investment, favourable government policy, low taxation, high nutritive value of pork, pork production experience, increase in demand for pork, and source of self-employment were identified as factors influencing pork-based agribusiness investment. Pork-based agribusiness investment is viable as evidenced from the return on investment (ROI) of N1.37. Investment in pork-based agribusiness is constrained by socio-economic, institutional, social/technological and economic/ infrastructural factors. Based on the findings, the study recommends formation of cooperative society among pig farmers in other to bridge the gap of insufficient credit for business expansion. There is also need for investment in research for the development of innovations that will mitigate disease infestation, increase the shelf life of fresh port and improved storage facilities for enhanced investment in pork business.
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