ECONOMIC ANALYSIS OF DIFFERENT WOOD SPECIES IN MAJOR SAWMILLS IN ABEOKUTA OGUN STATE NIGERIA

Abstract

This study involved the economic analysis of different wood species in major sawmills in Abeokuta, Ogun State Nigeria. Two stage design sampling techniques were employed for this study. Descriptive statistics and Cost and Returns were used in the data analysis. Result showed that 62.5% engaged in the business were males, 81.7% were in age group between 31-50years, 48.3% had no formal education, and 88.3% entered into the business through apprenticeship and are mostly full-time. The result also revealed that 95.83% of the saw millers or plank sellers obtain their timber from the private forest and they mostly buy per species i.e. per tree. Moreover, among the timber species that were common in the saw mills include, Albizia coriaria (ayinre) has the highest percentage frequency of 66.7%, Anogeissus leiocarpus (orin dudu) has 44.2%, Cleistopholis sp. (okedo) 32.5% and Musanga cecropioides (aga) 1.7% with the least percentage frequency. Average girth sizes of timber species in sawmill, ranged from 3.00cm- 5.60cm and the average number of plank ranged from 6-29. The business could be seen as profitable, as the cost analysis revealed the average profit for each sawmill per month in Abeokuta North, Odeda and Abeokuta South Local Governments’ Areas to have these profits (₦982,893.75, ₦790,083.524 and ₦790,083.524) respectively. It was recommended that government policy should be reviewed against illegal felling and over-exploitation of timber by imposing/enacting stiffer penalty or law to illegal feller. Government policy should also encourage individual plantation establishment to ensure continuity of forest products for posterity.