An Analysis of the Agricultural Entrepreneurship of Broiler Farmers in Oyo State, Nigeria.

Abstract

The study examined the agricultural entrepreneurship of broiler farmers in Oyo state, Nigeria. Cobb Douglas stochastic and Cobb Douglas production functions were used in analyzing the data. Evidence from the stochastic function showed that the average entrepreneurial efficiency of the farmers was 89.2%. About 53.6% of the farmers realized the mean level of efficiency. All the inputs were identified as significant factors in broiler production in the area. The result however also revealed negative significant response of broiler to labor. The result of the Cobb Douglas function indicated that the average prudent entrepreneurial efficiency of the farmers was 70.6%. About 51.8% of the farmers attained more than the mean level of prudent entrepreneurial efficiency. These results implied that 11% and 29% of the farmers operated below their entrepreneurial and prudent entrepreneurial mean levels of efficiency respectively. The average managerial efficiency of the farmers was 72.4%. About 64.3% of the farmers achieved the mean level of efficiency. Hence, 35.7% of the farmers operated below the mean managerial efficiency level. To improve entrepreneurial efficiency of the farmers, biological, chemical and mechanical technologies are recommended. In order to improve their managerial efficiency, policies that will improve the conditions in the inputs and output markets in terms of favourable prices to poultry farmers are
required.

Keywords: Agricultural entrepreneurship, entrepreneurial efficiency, managerial efficiency prudent entrepreneurial efficiency, poultry farms, Oyo State, Nigeria.