An economic assessment of rural based agro-industry in Ogoni land is a research conducted to ascertain the economic viability of the rural agro industry at ogoniland in Rivers State, especially the micro, small and medium scale agro based industries. Thirty industries were randomly selected from a population of 150 micro small and medium scale enterprises obtained from the Ministry of Commerce and Industries, the data for this research was analyzed using cost and revenue model. Only variable cost was considered, this is because if a business can cover its variable cost then it has good leverage. The net farm income revealed that return on investment was higher than variable expenses, that is, the total net income was higher than Total Variable Cost (TVC) in all the rural industries. Inferentially, this is a sign of economic viability and so it means that the rural agro- based industry was economically viable. The study recommended that government should assist the rural Agro-based industries with necessary infrastructural facilities such as electricity to power their equipment so as to reduce the cost of fuel. Road should also be provided to reduce cost of transportation, this will drastically reduce variable cost and increase net profit.
Article Citation:
Okidim IA and Albert CO.
An economic assessment of rural based agro-industries in Ogoni land Rivers State, Nigeria.
Journal of Research in Agriculture (2013) 2(2): 180-186.
Full Text:
http://jagri.info/documents/AG0041.pdf
Source: SCRIBD