Federal University of Technology, Akure

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Browsing Federal University of Technology, Akure by Subject "Adoption"

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    Adoption of improved technologies and profitability of the catfish processors in Ondo State, Nigeria: A Cragg's double-hurdle model approach
    (2020) Adewale Isaac O; Ibidun Comfort A; Amos Igbekele A; Taiwo Timothy A
    The study examined the adoption of improved technologies and profitability of fish processors in Ondo State, Nigeria. A multistage random sampling procedure was used to select 108 respondents using a well-structured questionnaire. Descriptive statistics, budgetary technique, and double-hurdle regression were used for the analysis of data collected. The study revealed that 37.96% of the respondents adopt (adopters) the improved technologies, while many (62.04%) of the respondents did not adopt (non-adopters). This implied that many of them still depend on the traditional methods of processing fish. The results of the budgetary analysis revealed that fish processing is a viable and profitable enterprise that is capable to yield at least 30kobo gain for every one naira expended. Despite the profitability of the business, adopters accrued more profits than the non-adopters and they minimize costs by 7%. The results of the double-hurdle model showed that profit, education, household size, experience, perceived fish price, extension services, and perceived cost of equipment were the main factors that influence the decision to adopt and the rate of adopting improved fish processing technologies in the area. Therefore, any policy that will increase the profitability of the fish processing business should be encouraged by the government so that the processors would be willing to adopt and also intensify the rate of adopting improved technologies in the area.