Economic Analysis of Suya Production in Benin City, Edo State, Nigeria

Abstract

The study focused on economic analysis of suya production in Benin City, Edo State of Nigeria. Its specific objectives were to examine the socio-economic characteristics of suya producers, estimate the costs and returns of suya production, examine the relationship between gross income of suya production and the inputs affecting it, and identify the constraints limiting suya production. A total of 33 suya producers identified in the study area using snowballing sampling technique were used for the study. A structured questionnaire was used to elicit information from the respondents. Data analysis was done using descriptive statistics, budgeting and multiple regression analyses. The results showed that suya production in the study area was on a small-scale level with initial average capital investment of about N9,809.00. However, the suya production was profitable with gross margin and net profit of N 518.00 and N 508.00 per kilogramme (Kg) of meat respectively. Every naira invested in the business yielded a net return of 58k. The regression results showed that about 71% of the variation in the gross income from Suya production was significantly (p < 0.01) influenced by the costs of meat, charcoal and labour. Costs of meat and charcoal positively influenced the gross income while labour cost affected it negatively. Major problems identified to militate against suya production were high cost of input (91%), lack of credit facility (82%), inadequate capital (70%) and disruption of the business by frequent heavy rainfall (61%). In view of the profitability of suya production, entrepreneurs were encouraged to invest in it.ª¤?

Costs and Returns Analysis for Suya Agribusiness in Sabon Gari Local Government Area of Kaduna State, Nigeria

“…This is because culturally women in the study area are not directly involved in the business of suya. This finding agrees with Iliyasu et al (2008) and Ahmadu and Aduwa (2015). The survey revealed that 36% of the suya agribusiness entrepreneurs had primary level education; 50% had secondary education.…”

“…Total costs for suya agribusiness have to rise by 223% before the agribusiness efficiency ratio would be down to 1, which is the break-even point. These findings agree with that of the earlier mentioned studies (Iliyasu et al, 2008;and Ahmadu and Aduwa 2015) that suya agribusiness is profitable.…”

“…An average profit of N10,115.94 was estimated in the study area suggesting that suya agribusiness is profitable in the study area. This finding agrees with those of Iliyasu et al (2008) and Ahmadu and Aduwa (2015) who reported profit in suya agribusiness in Maiduguri and Benin-City, respectively.…”

Analysis of Different Production Systems in Laying Hen Enterprises with Analytic Hierarchy Process in Turkey

“…One of the important parameters for the investment criterion in the egg sector is the return on investment. Ahmadu et al (2019) have found that the return period of investment in Nigeria is on average three years. The return period of investment for organic egg production systems in Turkey was detected to be 2.3 years by ORAN, (2015).…”