PROFITABILITY OF CHARCOAL PRODUCTION IN BENIN METROPOLIS

ABSTRACT

The studies examine the profitability of charcoal production in Benin City. The objective of the study was to evaluate the income generated from charcoal production, the cost of charcoal as well as to evaluate the preferred wood species used for charcoal production, the source of wood for charcoal production and factors mitigating the profitability of charcoal production in the study area were all so evaluated. A random sampling techniques was used to accord to the number of charcoal producer using 5% sampling intensity, 125 copies of questionnaire were administered to the respondents. Data were collected using structured questionnaire including oral interview. Data were analyzed using descriptive statistics, such as frequency and percentages summarized in tables and chart with inferential statistics to test the variables (ANOVA) at 5% level of significant. The results shows that (64%) of the respondents had experience in charcoal production. Majorities (32%) of the charcoal producer generate income from charcoal production between the ranges of N50, 000-N100, 000. Also the results revealed that the respondents get (147.5%) profit margin from charcoal business and (100%) of the respondents preferred the use of Eki and Okagha for charcoal production. In conclusion the charcoal productions play a vital role to the vast majorities of the respondents as a profit making venture among the charcoal producer in the study area.