Citation:

Usman, Jalaluddeen, Moses, Joyce. Dauda, Gabdo, Bashir. Hammangabdo., Zalkuwi, Jimjel, Peter, Gabul. "Analysis of Socioeconomic Determinants of Profitability of Cattle Marketing in North-east Nigeria, Before and During Cash Crunch Period" International Research Journal of Economics and Management Studies, Vol. 3, No. 8, pp. 265-279, 2024.

Abstract:

The recent government cashless policy, which attempted to reduce the circulation of cash in the Nigerian economy in order to address certain macroeconomic problems, brought some difficulties across the informal sector, especially among the cattle marketers who largely relied on cash transactions and lacked adequate knowledge of the cashless economy. This prompted this study on the analysis of socioeconomic determinants of profitability of Cattle marketing in North-east Nigeria before and during the Cash Crunch period. Purposive and simple random sampling techniques were adopted to select 495 respondents to form the sample size. Primary data was employed, which was sourced from a cross-sectional survey of cattle marketers with the aid of a well-structured questionnaire along with interviews. The study employed an inferential method of analysis. The results of the multiple regression analysis using Robust Ordinary Least Square (OLS) showed that access to credit facilities, education and market information all had a positive coefficient of 0.540, 0.027 and 0.431, and Significant at p < 0.01, respectively. The R2 values for these determinants were 61% and 59% before and during the cash crunch period, indicating that between 61% and 59% of the variations in profitability were explained by the aforementioned factors. The Z-test revealed no significant difference in these factors between the two periods, emphasizing their consistent positive impact. The study recommends that financial institutions should design specialized credit facilities that cater to the unique requirements of cattle marketing, and marketers should indulge themselves in groups or associations to facilitate their digital financial learning process to alleviate the challenges associated with remote and cashless transactions in cattle marketing.

References:

[1] Mubi, A. A., Kibon, A., and Mohammed, I. D. (2013). Formulation and production of multinutrient blocks for ruminants in the guinea savanna region of nigeria. Agriculture and Biology Journal of North America, 4(3), 205-215.
[2] FAO, (2021). Gateway to Dairy Production and Products. In: Food and Agriculture Organization of the United Nations. https://www.fao.org/dairyproduction-products/products/en/.
[3] El-Aich, A. (2018). Changes in livestock farming systems in the Moroccan Atlas Mountains. Open Agriculture, 3(1), 131-137.
[4] Zizhong, Shi., Junrui, Li., Xiangdong, Hu. (2023). From Large to Powerful: International Comparison, Challenges and Strategic Choices for China's Livestock Industry. Agriculture, doi: 10.3390/agriculture13071298.
[5] Jibrilla, A. A. (2019). Evaluating the economic benefits from beef-cattle trade in Adawawa state, Nigeria: The case of Jada local government area. International Journal of Financial Management and Economics, 2(2), 24-27. https://doi.org/10.33545/26179210.2019.v2.i2a.23
[6] Guardian (2023). The cattle market in Northern-Eastern Nigeria.
[7] Blair, K. J., Moran, D. and Alexander, P. (2023). Worldviews, values and perspectives towards the future of the livestock sector. Agriculture and Human Values, 1-18.
[8] Krishna, Prasad, Timsina., Devendra, Gauchan., S., Basi., M., Jaishi., Sunita, Pandey. (2023). Policy Provisions and Implementation of Seed Technology Research and Innovation in Nepal. Nepal Public Policy Review, doi: 10.59552/nppr.v3i1.58
[9] Turysbek, A. and Shyryn, K. (2023). Agricultural insurance system: review of the experience of developed countries. Problemy agrorynka, doi: 10.46666/2023-2.2708-9991.15
[10] Kray, H. A., Heumesser, C., Mikulcak, F., Giertz, Å., and Bucik, M. (2018). Productive Diversification in African Agriculture and its Effects on Resilience and Nutrition. Disclosure.
[11] Lucia, Vigoroso. (2023). Sustainable Livestock Waste Treatment Technologies: Survey on a Group of Italian Farms. Doi: 10.1007/978-3-031-30329- 6_29.
[12] Maggie, M, Justice., Kim, K, Mullenix., Daniel, Tigue., Michelle, F., Elmore., Max, W., Runge. (2023). 180 Assessment of Weaning and Backgrounding Management Practices Used by AlaMaiduguri Cattle Producers. Journal of Animal Science, doi: 10.1093/jas/skad068.014
[13] Xujun, L., Hao, Z., Mingli, W, (2022). Analysis of Factors Influencing the Decision-Making Behavior of Beef Cattle Farmers: An Empirical Analysis Based on Logit-ISM Model. Animals, doi: 10.3390/ani12243470
[14] Robinson-Pant, A. (2016). Learning knowledge and skills for agriculture to improve rural livelihoods. UNESCO Publishing.
[15] Ferdi, Fathurohman., Rita, Purwasih., Ridwan, Baharta., L., S., Safitri., Irna, Dwi, Destiana., Atika, Romalasari. (2023). Analysis of the Effects of Economic Growth and Population Toward Beef Cattle Farmers' Welfare in Subang Regency, Indonesia. American Journal of Economics and Business Innovation, doi: 10.54536/ajebi.v2i1.1135
[16] Nikensari, S. I., Santosa, P. B., and Sugiyanto, F. X. (2019). Economic stagnation in emerging market countries: should this justify Keynes's law? International Journal of Economic Policy in Emerging Economies, 12(3), 299-314.
[17] Musa, Y. M., Iheanacho, A. C., and Udeh, M. (2019). Effects of Socioeconomic Characteristics of Intermediaries on the Profitability of Cattle Marketing in Mubi Local Government Area of Adamawa State, Nigeria. International Journal of Research and Innovation in Applied Science, 4(12), 125-130.
[18] Sarah, F., Capik, A. R., Woolums., B. B., Karisch., Kimberly, Michele, Harvey., Matthew, A., Scott. (2023). Evaluating the impact of marketing strategies on host response. American Association of Bovine Practitioners Conference Proceedings, doi: 10.21423/aabppro20228677.
[19] Julie, L., Julie, D., Gwenaël, V. (2023). Including citizens through co-design in a participatory research project to explore innovative agro-food systems: the case of future dairy livestock systems. Frontiers in Sustainable Food Systems, doi: 10.3389/fsufs.2023.1098295
[20] Leon, Gwaka. (2022). Computer Supported Livestock Systems: The Potential of Digital Platforms to Revitalize a Livestock System in Rural Zimbabwe. Proceedings of the ACM on human-computer interaction, doi: 10.1145/3555085
[21] Adebayo, T. S., Awosusi A. A., and Bekun F. V. (2021). Impact Analysis on the Effective Synergy between Climate Change, Ecological Degradation and Energy Consumption on Economic Growth in Nigeria https://doi.org/10.1177/2158244021106.
[22] National Population Commission [NPC] (2006). Population Census for Nigeria. National Population Commission, Abuja.
[23] Bawuro, B. M., Anthony, N. A., and Iorfa, A. (2022). Pastoralists' knowledge of prevalent Cattle Diseases and Parasites Management Practices in NorthEast Nigeria. FUDMA Journal of Agriculture and Agricultural Technology, 8(1), 87-98.
[24] Evgeniya, R. (2023). Beef cattle breeding in farms of small forms in the conditions of digitalization. Agrarnyj vestnik Urala, doi: 10.32417/1997-4868- 2023-233-04-90-102
[25] Oleribe, O., Ezechi O., Osita, O. P., (2020). Public perception of COVID-19 management and response in Nigeria: a cross-sectional survey. BMJ Open 2020; 10:041936.:10.1136/ bmjopen-2020-041936.
[26] Oruonye, E. D. and Bashir, A. (2011). The Geography of Taraba State Nigeria: Nature's Gift to the Nation. Published by LAP Lambert Academic Publishing. Pp. 125-135.
[27] Rekwot, G. Z., Abdulsalam, Z., Yusuf, O., and Oyinbo, O. (2019). Determinants of profitability of beef marketing in selected states of northwest Nigeria. Journal of Animal Production Research, 31(1), 193-200.
[28] Girei A, Dire A.B and Belle B.H (2017). Economics of cattle marketing on the Socioeconomic Characteristics of cattle marketers in central zone of Adamawa State, Nigeria. Br. J. Mark. Stud., 1(4), 1-10.
[29] Jobirov, F., Yuejie, Z., and Kibona, C.A. (2022). Evaluating profitability of beef cattle farming and its determinants among smallholder beef cattle farmers in the Baljovan District of Khatlon region, Tajikistan. PLoS ONE, 17.
[30] Olaoluwa, A. E. and Adesegun, A. A. (2022). "Effects of Cooperative Loan on the Cattle Marketing in Ogun State, Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 18(1), pages 179-193.
[31] Vishesh, C. (2023). Market Penetration through Digital Marketing: A Case Study of a Tractor Dealership during Covid-19 Pandemic. Doi: 10.57159/gadl.jcmm.2.2.23042

Keywords:

Cash Crunch, Cattle, Marketing, Profitability, Socioeconomic.