Structure-Conduct-Performance: An Economic Analysis of the Medicinal Plant Market in the Semi-Arid Zone of Nigeria

Abstract

Senchi A. A*, O. Y. Ogunsanwo, I. O. Lawa and A. M. Kabir

The study assessed the economic analysis of the medicinal plant market in the semi-arid zone of Nigeria. Data for this research was collected using a well-structured questionnaire which was administered to two hundred and seventy (270) respondents. A multi-stage sampling technique was used for this study, in the first stage, eight markets were purposively selected from urban (5) and peri-urban (3) markets. In the second stage, thirty (30) respondents were selected from each market and thirty of the itinerants from the urban markets. Data obtained was analysed descriptively/inferentially using tables, frequencies and percentages. The result revealed that, male (90%) were the major actors and 10% for female, 42.2% of medicinal plants marketers were within the age range of 31-40 years, 88.9% were married with household size of 1-10 persons The study revealed 60% with Qur’anic education, majority of respondents (87.78) had medicinal plants marketing as their occupation. Respondents (58.51%) had 6-15 years of traditional medicinal experience, (68.15%) sourced their medicinal plants from wholesalers, disposed to individual consumers (50%) and had 148.81Herfindahl- Hirschman Index (HHI). Multiple determinations of coefficient (R2) were quite high (0.7193) and sales with a positive regression coefficient (.3160587) and significant level at 1% was the active determinant of profit in the MPs business. The concentration is very low with high completion, lack of standard price, high rate of deforestation, unsustainable harvesting techniques and insecurity are the major constraints. Uniform and standard price is recommended in the business of MPs in semi-arid zone of Nigeria.

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