Economic Analysis of Swine Production in Nigeria: A Case Study of Ibadan Zone of Oyo State

This study analyzed the economics of swine production in Ibadan Metropolis of Oyo State. Data were collected through interview schedule administered to eighty swine farmers in that area. The findings of the study revealed that 68.8 percent of the respondents were between 31 to 50 years of age with a mean age of 41.4 years, less than 10 percent of the respondents had no formal education, 80 percent were married, more than 70 percent had more than 5 years experience in pig farming, 98.8 percent were Christians, the average capital invested was #15,187.80K while 85 percent of the respondents financed their business from their personal savings. The findings showed further that variable costs represent 93.5% while fixed costs accounted for 6.5% of the total cost of production; the average net farm income (NFI) per respondents was #81,470.81K while the average net farm income per pig was #1,198.10K. The rate of return on investment was 57 percent. The Cobb-Douglas production function showed that there is a significant relationship between quantity of pork produced in Kg and labour employed in man days, quantity of feed in kilogram and cost of drugs, disinfectants and vaccines while there are no significant relationship between total output and years of experience and level of establishment. Based on the findings, it is recommended that the government should formulate and implement policies that would increase the level of productivity in swine industry. These policies should include the enforcement of effective feed quality control legislation, subsidizing major input supplies like feeds, weaners and other equipment used in swine production.