Assessment of the Contributions of the Bank of Agriculture to Cassava Production in Isoko North Local Government Area of Delta State, Nigeria | Chapter 08 | Current Perspective to Economics and Management Vol. 3

The study was conducted to assess the contribution of the Bank of Agriculture to cassava production in Isoko North Local Government Area. A simple random sampling technique was employed in the selection of six (6) towns and twelve (12) local cassava farmers from each of this six towns. The sample size was seventy two (72). Both primary and secondary data were used in the study. Data analysis was done using descriptive statistics and the chi-square test was used to test the hypothesis. The study showed that only 30.6% of the farmers had access to credit facilities. The average amount of credit obtained was N186, 500. A proportion of 54.2% of the respondents obtained N51, 000 to N100, 000. About 13.9%obtained N161, 000 to N 200,000. A negligible proportion of 8.35% obtained above N210, 000.The average farm size of the farmers is 3.5  hectares The results of the chi-square test shows that the farmers that had access to credit have statistically significant higher output and farm size than those farmers that did not have access. However, there was no significant difference in the farm capital and expenditure values between those farmers that had access and those that did not. Although the Bank of Agriculture has made some significant contribution in the provision of credit for cassava production, the credit facilities are not adequate for the farmers to expand their farm holdings in order to increase cassava production in the study area.

Author(s) Details

K. N. Tibi
Delta State Polytechnic, Ozoro, Delta State, Nigeria.

R. Nwadiolu
Delta State Polytechnic, Ozoro, Delta State, Nigeria.

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Tomato Value Chain in Nigeria: Issues, Challenges and Strategies | Chapter 02 | Advances in Applied Science and Technology Vol. 6

The study was carried out to appraise tomato value chain in order to promote the development of tomato production and processing industry in Nigeria. Currently in Nigeria, about 1.8 Million tonnes of fresh tomato are produced per year, but over 50% of these are lost due to poor storage system, poor transportation and lack of processing enterprises. This makes it important to develop strategies for the development of tomato value chain. The method employed in this study includes semi-structured informal interviews with key value chain actors such as producers, intermediate traders, retailers and input suppliers and a critical review of available literature. The study revealed that there are good varieties of tomatoes in Nigeria, but only a few are suitable for industrial processing with regard to quantity and quality. The research also revealed that Nigeria is still not a major exporter of either fresh or processed tomato products despite the high production of fresh tomatoes. This was found to be due to inadequate supply of good quality seeds, inadequate storage facilities, poor disease and pest management, and poor processing facilities. The development of tomato for industrial use is currently gaining momentum, in the area of production of tomato juice, paste, ketchup, puree, and powder. Strategies identified to overcome the challenges include: policy shift to encourage Small and Medium Enterprises (SMEs) as well as Industries along the value chain; improved input supplies; organisation of farmers into cooperatives so as to initiate innovative funding mechanism for them; establishment of clusters for processors; improvement in marketing strategies including guaranteed price for fresh tomato products; adjustment in tariff regime to favour local manufacturers including outright ban on importation of processed tomato products; increased investments in Research and Development (R&D) to produce improved seed varieties and develop technologies for storage and processing; adoption of Good Agricultural Practice (GAP) by farmers and a strong National Commodity Association or Network.

Author(s) Details

Dr. (Mrs) C. U. Ugonna
School of Built Environment, Liverpool John Moors University, Liverpool, UK.

Dr. M. A. Jolaoso
Department of Agricultural and Agro-Allied, Raw Materials Research and Development Council, Abuja, Nigeria.

Prof. A. P. Onwualu
Department of Research and Innovation, National Universities Commission, Abuja, Nigeria.

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A Critical Review of Competitive Firm’s Theory | Chapter 02 | Current Perspective to Economics and Management Vol. 2

Aims: In the first place, to demonstrate that economic behavior that neoclassical theory attributes to competitive firms is technically inefficient since it does not correspond to the highest possible internal rate of return, which implies the violation of the first theorem of welfare. Secondly, overcoming error in the economic behavior of competitive firms gives rise to the basic results of the theory of nonexistence of the labor market (TNLM), on which the theorem of superiority, a basic element of its construction, is finally proved.

Methodology: The demonstration is carried out through a theorem based on the free entry and exit criterion, fully respecting the initial conditions and hypotheses of neoclassical theory. For all these effects the mathematics of restricted maximization and some concepts of convex optimization are used.

Results: We show that with any internal rate of return higher than the one inherent to the maximization of profits and the same amount of resources determined by current walrasian prices, it is possible to produce more in a more competitive industry, which in turn means higher financing levels for consumers and therefore better situations in the sense of Pareto.

Conclusion: It thus implies that neoclassical theory explains the operation of a market economy in which firms operate inefficiently even though they could overcome their own results; that is acting irrationally. Since efficient theoretical explanations are a prerequisite to efficient predictions, and the latter, necessary to establish efficient criteria to control explained phenomena, the evidence of explanatory inefficiencies shown in this research, have exposed the need to build efficient explanations of the functioning of a market economy. To that end seeks to contribute the theory of nonexistence of the labor market, whose pillars are the criticism and reconstruction of the theory of producer. The demonstration that the inefficiency of the theory of firm in neoclassical tradition violates the first welfare theorem, injures the norm that guides all axiomatic deductions of this logical system, i.e. the perfectly competitive equilibrium. It then imposes the need to replace that norm by any other descriptive notion provided by a robust theory to orient the sense that the criteria of economic policy should follow, for the sake of a more desirable economic order than the current. Apparently, this concept should be to rethink the demonstrations of existence of a general competitive equilibrium, this time based on the correction of the analytical error of neoclassical theory.

Author(s) Details

Fernando Antonio Noriega Ureña
Department of Economics, Autonomous Metropolitan University, Campus Azcapotzalco, Mexico.

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