Open AccessEvaluation of Granite Production and Market Structure for the Improvement of Sales Performance in Ondo and Ogun States, Southwest Nigeria
Author(s) -
Blessing Olamide Taiwo,
Mbuyi M. Melodi,
Itunu O. Ajayi
Publication year - 2022
Publication title -
fuoye journal of engineering and technology
Language(s) - English
Resource type - Journals
eISSN - 2579-0625
pISSN - 2579-0617
DOI - 10.46792/fuoyejet.v7i1.762
Subject(s) - ogun state , production (economics) , incentive , descriptive statistics , business , government (linguistics) , private sector , local government area , market structure , marketing , agricultural economics , local government , economics , industrial organization , statistics , mathematics , economic growth , geography , linguistics , philosophy , archaeology , macroeconomics , microeconomics
Poor marketing infringes the rate of production and supply of quarry end products and limits the supply rate between the producer and the industrial users. This study aimed at assessing the structure, conduct, and performance of the granite marketing system in Ogun and Ondo, recognizing and characterizing the opportunities and constraints on market participants which influence its performance. Ten granite quarries located in the southwest, Nigeria were considered in this research. The granite quarry sales and production information was derived from both primary and secondary sources. Descriptive statistics in analyzing the data collected from granite traders in the study areas. Descriptive statistics, ratios, percentages, means, and standard deviations were utilized to compare the socio-economic and institutional characteristics of the granite product traders in the two case studies. The connection between the granite sales market design, direct, and execution was analyzed utilizing the structure-conduct-performance model. The Gini coefficient and Lorenz Curve analysis indicated that the granite market in Ogun state is highly competitive for both the producers and wholesalers, and it is not controlled by a few traders. It is therefore recommend that government and private sector should promote processing which involves making financing facilities available so that the private sector will be encouraged to invest in processing activities, and that government should also provide an incentive to the private sector to continue improving the state of technology processing.Keywords— granite, Market structure, Nigeria, Quarry aggregates, production evaluation, Structure-Conduct-Performance model