ECONOMIC ANALYSIS OF COCOYAM-BASED PRODUTION SYSTEMS IN EKITI STATE, NIGERIA

This study examined the cocoyam based production economy in Ekiti State, Nigeria. A three-stage random sampling technique was used to select eighty farmers for the study while the questionnaire was used to collect useful information from study respondents. The study data collected were analyzed using descriptive statistics, net farm income and the multiple regression analysis. The results of analysis revealed that all the various crop combinations practiced by the cocoyam farmers were profitable on with the cocoyam/cassava enterprise having the highest profit of N27, 550 per hectare when compared with the other enterprises. Farm size, labour used, level of education and fertilizer usage all showed significantly influence respondents yield.. The constraints faced in cocoyam-based production were high cost of input, poor accessibility to improved cocoyam varieties, inadequate extension service, extortion by middle men, poor transportation of farm produce, and poor storage facilities. The study therefore recommended that farm inputs like seeds, fertilizer, and pesticides should be availed farmers at subsidized rate so as to aid their production. Government and Non-Governmental Organizations (NGOs) need to create awareness on the importance of the cocoyam and ensure regular extension visits to farmers. More researches on cocoyam by the private and public research institutes is also necessary.