Babalola, O.O. and Ilori, M.O. and Adegbite, S.A. (2012) Engineering Economic Analysis of Organic Fertilizer Production in Nigeria. International Journal of Engineering Research & Technology, 1 (9). pp. 1-13.
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Abstract
Organic fertilizer factories in Nigeria were assessed to determine their economic viability and the best technology option. Initial investment and economic performance of the factories were evaluated using questionnaire and records. The study revealed most of the factories (80%) are profitable. In actual performance, 20% of the factories attained viability due mainly to low capacity utilizations. Eighty percent (80%) of the factories used low level technology (LLT) while 20% used medium level technology (MLT).The LLT option recorded higher viability and lower break-even period than the MLT. However, projections of performance for the two options when sensitivity at higher capacity utilizations to selling price and project useful life were computed revealed they are both viable with MLT returning higher viability than the LLT. The study recommend product promotion, private sector involvement, close collaborations between industry and academia, paradigm shift from current agricultural system, and stronger policies from government as steps towards enhanced viability. Keywords: Organic fertilizer factories, economic viability, technology option, economic performance.
| Item Type: | Article |
|---|---|
| Author Affiliation: | National Centre for Technology Management, Victoria Island, Lagos, Nigeria, Obafemi Awolowo University, Ile-Ife, |
| Subjects: | Plant Protection Agricultural Engineering |
| Divisions: | General |
| Depositing User: | Mr. SanatKumar Behera |
| Date Deposited: | 07 Dec 2012 03:25 |
| Last Modified: | 07 Dec 2012 03:25 |
| URI: | http://eprints.icrisat.ac.in/id/eprint/8992 |
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