Economics of Waterleaf (Talinumtriangulare) Production in Akwa Ibom State, Nigeria

Abstract

This study analyzed the profitability level of waterleaf production in three selected agricultural zones of Akwa Ibom State, Nigeria. The study was based on primary data obtained from a random sample of 60 waterleaf farmers and analyzed using descriptive statistics, profitability ratios and regression analysis. The result of the analysis shows that the majority (90%) of the farmers had some level of formal education. Labour had the highest percentage (58%) of total cost of production, suggesting that waterleaf production was labour intensive in the area. The average net income per hectare per waterleaf production cycle was N322,413 while the average total cost was N89,307.18. Labour cost constituted the highest percentage of total variable cost. The profitability index (0.78), rate of returns on investment (361%), rate of returns on variable cost (482%), and operating ratio (0.21) suggest that waterleaf production was profitable in the study area. The identified major factors that enhance the output of waterleaf were the application of poultry manure, bigger household size (cheap labour), level of education of the farmer and level of capital. These observations underscore the need for the provision of credit facilities and some kind of adult education programme for the farmers. These will respectively ensure that they apply the right quantity of purchased inputs (like fertilizers, hired labour and capital) in their production process and improve their human capital.

Keywords

• agriculture
• economics
• education
• income
• Nigeria
• production