Analysis of Taxation, Output Market Participation and Welfare of Palm Oil Dealers of AkwaIbom State, Nigeria: Simultaneous Equation Approach
2025
Udokure, U.J. | Njoku, M.E. | Obasi, I.O. | Okpara, B.O.
The study analysed the relationship between taxation, market participation, and welfare of palm oil dealers in Akwa Ibom State, Nigeria: The simultaneous equation approach. Multistage sampling techniques were adopted to select 120 respondents. Data were obtained using a structured questionnaire. The descriptive statistical tools, market participation index, mean per-capita household expenditure (MPCHE), and simultaneous equation models were the data analysis tools. Results showed that the respondents paid mostly sales tax with minimum and maximum amounts being N500 and N3000 respectively. About 54.17% of the respondents were commercial traders. The average household monthly consumption expenditure on food and non-food items was N111,787.9. The result also showed that taxation had a negative relationship with market participation. Market participation is related positively to the dealer’s welfare. Inadequate storage, market access, fluctuating prices, high purchase costs, product unavailability, insufficient market information, and unfavourable government policies are the challenges of palm oil marketing. The study recommended a review of existing taxation policies by policymakers to reduce the burden on palm oil traders. This could involve revising tax rates, exemptions, and thresholds that will not disproportionately affect palm oil traders.
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