International Journal of Social Science & Economic Research
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Title:
UNIQUE INDUSTRY CHALLENGES CAUSING VALUE LOSS WITHIN PALM OIL PRODUCTION IN NIGERIA

Authors:
OGUNRO Victor Olukayode PhD

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OGUNRO Victor Olukayode PhD
Department of Business Administration and management, Rufus Giwa polytechnic, owo, Ondo state, Nigeria

MLA 8
Olukayode, OGUNRO Victor. "UNIQUE INDUSTRY CHALLENGES CAUSING VALUE LOSS WITHIN PALM OIL PRODUCTION IN NIGERIA." Int. j. of Social Science and Economic Research, vol. 8, no. 6, June 2023, pp. 1590-1610, doi.org/10.46609/IJSSER.2023.v08i06.031. Accessed June 2023.
APA 6
Olukayode, O. (2023, June). UNIQUE INDUSTRY CHALLENGES CAUSING VALUE LOSS WITHIN PALM OIL PRODUCTION IN NIGERIA. Int. j. of Social Science and Economic Research, 8(6), 1590-1610. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i06.031
Chicago
Olukayode, OGUNRO Victor. "UNIQUE INDUSTRY CHALLENGES CAUSING VALUE LOSS WITHIN PALM OIL PRODUCTION IN NIGERIA." Int. j. of Social Science and Economic Research 8, no. 6 (June 2023), 1590-1610. Accessed June, 2023. https://doi.org/10.46609/IJSSER.2023.v08i06.031.

References

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ABSTRACT:
The study identified unique industry challenges causing value loss within palm oil production in Nigeria. Specifically, the study examined the nature of palm oil production in Nigeria; identified unique challenges facing palm oil production in Nigeria; identified the factors causing value loss in the palm oil production industry in Nigeria and identified the factors necessary for improving value within Nigerian palm oil production supply chains. The study covered all the palm oil companies in Akwa Ibom being the largest and most imported palm oil producing state in Nigeria. For this study, Snowballing and Purposive sampling techniques were adopted to select fifteen employees from each of the sampled palm oil-producing companies to give a total of forty-five (45) employees. The data collected were analyzed using descriptive statistical tools. All the research questions raised were answered using descriptive statistics such as frequency counts, mean, standard deviations and percentages. Firstly, it was discovered that there is no steady increase in the barrel of palm oil produced in Nigeria on yearly basis. Also, it was discovered that high cost of land is the highest challenge while manual equipment for processing is the least challenge that facing palm oil production in Nigeria are agreed on by the respondents. Furthermore, it was discovered that devaluation of Nigerian currency has the highest effect resulting to value loss in the palm oil production while change in prices of palm oil substitute has the least factor. It is concluded that the major constraints being that of high cost of land and lack of fund. The Nigerian governments at all levels should undertake the credit policy to offer credit support to palm oil producers’ particularly the purchase of mechanized processing equipment, acquisition of enough landed space for plantation.

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