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Profitability of Charcoal Production and Marketing in Ibarapa Zone of Oyo State Nigeria

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  • Oluwasola, Babatunde, Taiye
  • Solomon, Kehinde Abiodun
  • Johnson, Kehinde, Olujide

Abstract

This study analyzed the profitability of charcoal production and marketing in Ibarapa zone of Oyo state using a structured questionnaire. A multistage sampling technique was adopted to select one hundred (100) respondents for the study. The descriptive statistical method and budgetary analysis were used for data interpretation. Charcoal marketing is dominated by middle or old age mostly females (71.7%), the business are funded from personal saving and support from cooperative society. The finding reveals that 48.5% of respondent had no formal education and economic analysis showed that marketers require ₦50,000-₦500,000 as working capital with a resultant profit of ₦300,000-₦500,000 per annum and charcoal marketing efficiency was 1.32. In Conclusion, charcoal marketing is profitable with net returns of ₦58,000 on 200 bags sold.

Suggested Citation

  • Oluwasola, Babatunde, Taiye & Solomon, Kehinde Abiodun & Johnson, Kehinde, Olujide, 2019. "Profitability of Charcoal Production and Marketing in Ibarapa Zone of Oyo State Nigeria," Asian Journal of Agricultural Extension, Economics & Sociology, Asian Journal of Agricultural Extension, Economics & Sociology, vol. 35(3).
    • Handle: RePEc:ags:ajaees:357692
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