Impact and Socio Economic Contribution of Wood Carving in Abeokuta Metropolis, Ogun State, Nigeria

Abstract

An investigation of the various wood species used in carving wood work was carried out. Questionnaire was administered to 50 respondents. Data collected were analyzed using descriptive statistical tools, Cost and return analysis was used to determine the economic contribution of wood carving while Rate of Returns on Investment (ROI) was used to determine the rate of profitability of the business. The study revealed that 86% of the respondents were male, 88% and 98% of the respondents who were married practiced the occupation full-time. The result also revealed that the average net income of respondents per seller/month was ₦3,675.33 and the rate of return on investment, ROI was 48.80% which showed that carving business is profitable and economically viable. Based on the findings that there exist significant relationship between cost and returns of woodcarving in the study area, as well as the fact that most of the carvers claimed not to have access to formal loans, this study recommends that carvers should strengthens themselves financially by forming cooperative groups whereby members could have access to loans at a very low rate and carving inputs could be purchased in bulk to be shared among members at a reduced cost.

Keywords:  Wood carving, Socio economic contribution, Rate of return