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Economic Efficiency of small and Medium Scale Cassava Processing Enterprises in Imo State, Nigeria
Abstract
This study examined the economic efficiency of small and medium scale cassava processing enterprises in Imo State, Nigeria. The study was based on primary data obtained in a cross sectional survey that involved 80 randomly selected small and medium scale cassava processing mills in Orlu and Owerri Agricultural Zones. The data was analysed by both descriptive and Stochastic Translog Profit Function Techniques. The study reveals that small and medium scale cassava processing enterprises were not efficient. The small scale enterprise was more efficient than the medium scale enterprise.. There were no significant differences in mean efficiency between the small and medium scale enterprises. Profit was influenced by labour, credit status, number of people employed and extension visit for small scale and number of people employed, credit status and labour for medium scale enterprises. Small and medium scale cassava processor should therefore focus more on ways of accessing credit while government should ensure more extension visits to the processors.
Key words; Economic Efficiency, Small and Medium Enterprise, Cassava Processing Enterprise, Nigeria, Agribusiness
