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Socioeconomic Determinants of Income From Fresh and Processed Crayfish Marketing in Oron Local Government Area of Akwa Ibom State, Nigeria.
Abstract
Regression analysis using the Ordinary Least Squares was fitted to data generated from forty two fresh and processed crayfish marketers respectively to assess the factors that determined income derived from their marketing. A total sample size of 84 crayfish marketers were in all randomly selected across three major Cray fish markets in Oron with a list of marketers generated from the Local Government Office. Age, educational status and purchasing cost were factors that determine the income derived from fresh crayfish marketing while household size and purchasing cost were the factors that determined the income derived from the processed crayfish marketing. It does appear that the income increases with education and age among fresh while with larger household size, more income is made among processed crayfish marketing. Only the purchasing cost that has significantly affected income among the two groups equally. When the data of the two groups were pooled, household size and purchasing cost were significant factors that affected income at 1% while the educational status of marketers alone was significant and positively related to income at 10%. The results of the test of equality between the two groups show that the estimated relationships differed significantly. The Chow’s test shows the F-calculated (38.549) to be greater than the F-tabulated (2.56). It appears that more income is derived from the fresh crayfish marketing than from the processed. However, crayfish marketing need to be encouraged by government through formulation of policies that are aimed at encouraging more educated persons to be actively involved in its marketing and making credit facilities available to marketers as the business would seem to contribute to improving the household standard of living as more income would be generated through crayfish marketing given that most of the marketers are household heads.
Keywords: Determinants, income, fresh, processed, crayfish, marketing
