Open AccessECONOMICS OF RABBIT PRODUCTION IN ABEOKUTA SOUTH LOCAL GOVERNMENT AREA OF OGUN STATE NIGERIA
Author(s) -
I. A. Ayinde,
Adebayo B. Aromolaran
Publication year - 2021
Publication title -
nigerian journal of animal production
Language(s) - English
Resource type - Journals
ISSN - 0331-2062
DOI - 10.51791/njap.v25i1.2274
Subject(s) - ogun state , profitability index , production (economics) , local government area , rate of return , descriptive statistics , investment (military) , agricultural science , variable cost , sample (material) , internal rate of return , economics , total cost , government (linguistics) , business , variables , capital (architecture) , agricultural economics , local government , geography , finance , subsidy , mathematics , statistics , accounting , philosophy , law , linguistics , chemistry , environmental science , politics , macroeconomics , archaeology , chromatography , political science , market economy
This study was aimed at examining the economic profitability of rabbit production based on the hypothesis that the low level of production may likely be a consequence of low profitability of the enterprise. Abeokuta South Local Government area was used as a case study. It involved the collection of primary data from a sample of 50 rabbit farmers spread over 10 communities in Abeokuta South Local Government Area of Ogun State. The analysis of survey data was done through a combination of descriptive statistical analysis. The results showed that most rabbit farmers in Abeokuta were no-professional farmers, who engaged in rabbit production on a part-time basis to supplement their income from other sources such as civil services, trading and craftsmanship. Cost analysis showed that feed cost accounted for as much as 65.7% of total cost (excluding imputed cost of family labour), while fixed inputs amounted to 28% of the cost of production. Other variable inputs accounted for only 4.35% of total cost. The profitability analysis showed that rabbit production in the area could generate a rate of return to capital and family of 56% a rate of return on fixed cost of 300% and a rate of returns on variable cost of 178%. The study concluded that; Even though rabbit production is economically viable in Abeokuta in particular and Ogun State in general, the following problems have imposed a severe limitations on the expansion of the enterprise. These are: the paucity of investment capital among the current investors in rabbit production enterprise, inadequate access to good breeding stock, and the non-professional, part-time and supplementary nature of rabbit production in the area. It is therefore recommended that efforts should be directed towards providing credit to current and potential rabbit farmers so as to boost production. Moreover the government should embark on the supply of parent stock of proven reproductive performance to farmers at effordable prices. The establishment of Rabbit Breeding Units in tertiary institution for the multiplication and distribution of rabbits for breeding purpose can enhance this. In addition, government can initiate propularization of rabbit production in the state