PROFITABILITY OF SWINE PRODUCTION IN AKWA IBOM STATE, NIGERIA

PROFITABILITY OF SWINE PRODUCTION IN AKWA IBOM STATE, NIGERIA
ABSTRACT
This study assessed the profitability of swine production in Akwa Ibom State, Nigeria. Three specific objectives, three research questions and two null hypotheses were stated for the study. The population for the study consisted of 4,003 registered swine farmers in Akwa Ibom State (Uyo branch). Descriptive survey research design was used and structured questionnaire was drafted for data collection. Data were analyzed using descriptive statistics, profitability ratio and Pearson product moment correlation. The two null hypotheses were tested at 0.05 level of significance using profitability ratio for null hypothesis one (1) and Pearson product moment correlation was used to test null hypothesis two (2). Major findings revealed that 52% of the respondents were 40 years of age, 42% had secondary school education, 68% engaged in business as their major occupation, 61% used semi-intensive management system and 50% of the respondents had 10 years farming experience. The findings further indicated that an annual production variable cost was ₦365,200, fixed cost was ₦94,760 and total cost was ₦459,960 and sales of output was valued at ₦1,239,000 (TR) while the net revenue was ₦779,040. The profitability ratio was 3.39. The profitability ratio showed that there was a significant relationship between costs and benefit of swine production while Pearson product moment correlation showed that there was a significant relationship between constraints faced by farmers and swine production. Based on the findings, it is recommended that the government of Akwa Ibom State. Agricultural development programme should increase veterinary service by supplying necessary vaccine at lower cost by establishing new veterinary care centres. This will help to increase profitability.