Economics of Yam Production in Gboyin Local Government Area of Ekiti State, Nigeria

Abstract

The study of economics of yam production was carried out in Gboyin Local Government Area of Ekiti State, Nigeria. The specific objectives are to: describe the socio-economic characteristics of yam farmers, determine and analyse the profitability of yam production, determine the input and output relationship of yam production and identify constraints to yam production. Three- stage sampling procedure was used to obtain information from respondents. A total number of 140 respondents selected randomly from four towns (Ode- Ekiti, Agbado, Aisegba and Ilumoba) were used for the study. Data were collected with interview schedule administered to obtain information from the farmers. Descriptive statistics, budgetary, profitability and multiple regression analysis were used to analyse the data. The result of the study showed that both males and females are involved in yam production in the study area with mean age of 45 years and mean household size of 5 members. The mean faming experience and farm size was 10 years and 1.83 hectares respectively. Majority (83.57%) had formal education (primary, secondary and tertiary education) and had no access to loans. The result of budgetary analyses showed that yam production is profitable with an average net farm income of N 91, 876.50 per production season. The profitability indicators revealed that the enterprise is viable and worthwhile. The coefficient of both fertilizer and farm size were significant at (P< 0.001), labour at (P< 0.05) while the coefficient of seed was significant at (P< 0.10) probability level. These variables are very vital and crucial in yam production. Inadequate capital and planting materials, high cost and inaccessibility to inputs, and poor produce price etc are the problems of yam production in the study area. It was concluded that yam production is a profitable, viable and worthwhile enterprise which can be embarked upon by both the youths and adults of the study area.