Economic analysis of Soybean Farming in Northern Nigeria
The variations in soybean farmers’ output and income were investigated alongside their improved soybean adoption status and other socio- economic factors. Data from 307 farmers randomly selected from two states in northern Nigeria were analysed using descriptive statistics and regression models. Results show that the lowerincome farmers cultivated smaller farm sizes and incurred higher production costs than the higher-income farmers. Adopters incur higher production costs but receive commensurate higher returns per hectare than nonadopters for all income categories. Hectarage (t=11.92), farming experience (t=4.15), yield (t=4.43), adoption status (t=2.39) and own farm-gate price (t=2.19) have positive and significant influence on output while farmgate price of beans (t=3.26) has significant negative effect. Moreover, hectarage (t=15.05), farming experience (t=2.67) and adoption status (t=2.27) have positive and significant effects on income. The findings have among other things, underscored the benefit of improved technology and its adoption in promoting well-being of rural soybean farmers. Notwithstanding the additional cost involvement, investment in improved soybean technology is worthwhile since through higher yield, output and income farmers’ welfare is enhanced. Easing farmers’ access to credits will encourage willing farmers to invest in farmlands and improved technology while adequate training workshops and Field Days would help to update them on the appropriate use of new technologies and build up their knowledge and experience.
Keywords: Soybean, improved technology adoption, output, yield, income, farming experience, northern Nigeria.