Economic Analysis of Snail Production in Oyo State
Bolaji, K. A, Adebayo D.O., Kabir G. B, Akanni O.F,Arowolo O.V. and Olawale O.O. Nigerian Journal of Forestry, 50 (1) 52-59
This study is on the economics analysis of snail production in Oyo State of Nigeria. Snail is among the many Non-Timber Forest Products, endangered wildlife species of the tropical rainforest ecosystem of southwest Nigeria. This was achieved by examining the socio-economic characteristics of the snail farmers, cost and returns, and socioeconomic factors influencing snail rearing. Data for the study were collected by means of a well-structured questionnaire administered purposively in six local government areas in Oyo state. They were purposively selected due to prior information of snail rearers in the areas. These were Akinyele (15), Egbeda (21), Afijio (23), Ibarapa North (29), Iseyin (22) and Ogbomosho (15) North Local Government Areas, making a total of 125 Snail farmers.. The results indicated that majority (68%) of the producers were males, 72% of them were married with 48% having family sizes of less than 5. About 40% of them had a family size of between 6 and 10. The results further indicated that production was highly profitable with a gross margin of ₦134,060 realized on ₦24,980 investment. The rate of return on investment implied that for every naira invested in the business ₦4.89 was generated. The regression analysis shows that 79% of the independent variables (R2) explained the dependent variable, total income. The positive signs and various significant levels on feeding schedule (0.15), stock size (0.31) and labour cost (0.16) implied that increase in these inputs will add to the total income of snail production. It was concluded that snail production required low capital investment therefore low income earners could comfortably embark on it. Also in view of the high profit level of the business, it could be a veritable enterprise for uplifting the living standard of its producers and advance the economy of the nation.