Socio-Economic Importance of Tree Nursery Enterprises in Lagos State, Nigeria
2022
EKO, OD | ADEDOKUN, MO | SOAGA, JA | OKOJIE, LO | ATANDA, TA | ABISOYE, TR
There is a growing interest to understand the role of tree nursery enterprises in Nigeria and the horn of Africa. Tree nursery enterprises, which are vital economic activities in major cities of Nigeria and particularly in the city of Lagos are not adequately studied and well documented. Therefore, this study seeks to fill a gap in understanding the socioeconomic importance and profitability potential of tree nursery enterprises. Multistage sampling technique with a 3-stage design was adopted in this study using aquantitative data collection techniques through the use of structured questionnaire administered to 120 nursery entrepreneurs. Data were analyzed using descriptive, inferential, and budgetary analysis. The result revealed that tree nursery entrepreneurs are literate, mostly male in their youthful age. Furthermore, the total annual revenue earned by the respondents was ₦1,712,222.22 with a mean annual net income of ₦1,458,038.72 while the return per naira invested was ₦5.71. This shows that tree nursery enterprise is profitable in the study area. However, most entrepreneurs were faced with shortage of land for establishments of tree nursery in the study area. Therefore, appropriate actions in reducing cost of land lease/purchase are recommended to encourage new entrepreneurs and strengthen the sector’s development.
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