Economics of Silviculture: Insights from Coconut Seedling Production in Lagos State, Nigeria

Abstract

Nigeria has a record of producing about 250,000 tons of coconut annually, this production capacity is not enough in satisfying the demand of coconut in the country. Coconut demand exceed its supply currently in Nigeria. A semi-structured questionnaire was administered to 120 respondents selected purposively from the list of Lagos State Coconut Development Authority (LASCODA). Specifically, the study identified the variety of coconut seedling raised; examined the costs and returns of coconut seedling production; contribution of coconut seedling income to the total income of coconut seedling producers and identified the constraints on coconut seedling production. Descriptive statistics, budgetary analysis, and likert type scale were employed for analysis. The study revealed that, majority (64.17 percent) of the respondents raised the tall variety of coconut seedling. The budgetary analysis revealed that a typical coconut seedling producer makes a net profit ₦380,128.33/ha with a rate of return of 241.78 percent. Income from coconut seedling production contributed to the total income of the producers (66.3 percent) in the study area. Inadequate credit facilities, inadequate access to training among others were the constraints faced during production. Research recommends that prioritization of coconut seedling production to improve farmer’s accessibility to credit and training programs should be organized for farmers so as to embrace innovation.