Credit Sales, Competition, and Business Survival in the Nigerian Flour Market: Evidence from Ondo State, Nigeria | Chapter 7 | New Advances in Business, Management and Economics Vol. 10

 

Selling on credit has long been a traditional practice in the Nigerian flour market. The practice helps to ensure competitiveness and increase sales turnover. In the flour markets, firms are pushed to selling on credit due to flour’s short shelf life, to build loyalty and psychological bonds with customers, and because many bakers prefer credit purchases due to low financial literacy. In Ondo State, over 50% of daily flour sales are conducted on credit, underscoring its dominance in the market. However, in recent years, credit sales have become a source of bad debt and business failures in the market. Despite this, the literature relating credit sales with competition in product markets is lacking. The focus has mainly been on the credit and financial markets. This study attempts to relate how competition impacts credit sales and survival in the Nigerian flour market. Employing a two-stage model and numerical evaluations from sales representatives of 5 leading flour brands, the findings shows that credit sales does not guarantee competitiveness and that it threatens business survival. The study observed a declining link between selling on credit and competitiveness. The study concludes that while credit sales may offer short-term gains in customer retention and turnover, they have become a major source of bad debt in the market, particularly prevalent among small bakeries. Flour dealers need consider business survival as more important goal than sales turnover as default risks rises in the market.

 

Author(s) Details

C. Chris Ofonyelu
Department of Economics, Adekunle Ajasin University, Akungba Akoko, Ondo State, Nigeria.

 

 

Please see the book here :- https://doi.org/10.9734/bpi/nabme/v10/6232

A Study on Rent-to-Income Ratio in Residential Property Sector of Uyo, Akwa Ibom State, Nigeria | Chapter 2 | New Advances in Business, Management and Economics Vol. 6

Some people who have financial capacity can afford to own a shelter, while some can only manage to rent it from those who can afford to own it. This study examined the rent-to-income ratio in the residential property market in Uyo, Akwa Ibom State, Nigeria. A sample of 427 residential property occupiers was reached based on interviews and questionnaires. Simple percentage, means, Analysis of Variance (ANOVA), and pairwise were used to analyse the data. The result revealed that 35.3% was the mean rent-to-income ratio in Uyo. Self-contained had the highest rent-to-income ratio of the occupiers as it took 40% of the income while tenement building had the lowest as it took 20% as the rent-to-income ratio.  ANOVA showed a significant difference in the mean rent of occupiers based on the type of property as the mean rent was N303,898.10 while the lowest rent was N49,434.80 and the highest rent was N647,777.80 and no significant difference based on occupation. From the pairwise comparison of the mean rent by property type, the mean rent for the Maisonette was significantly higher than others, while the mean rent for the tenement was lesser than the mean rent of all other properties. The implication of this result is that rent default is a major risk in real estate investment and tenants who may maintain consistency in rent payment may neglect other basic needs.  As the mean rent-to-income ratio is 35.3%, tenants should be sensitized to understand the recommended rent-to-income ratio of 30% to guide them in renting housing and the implications. Also, the government should provide a home ownership scheme where she can subsidise the sale of houses or land to encourage the citizens to have theirs. Public-Private-Partnership (PPP) schemes can also be encouraged to boost the housing supply, and this can help reduce the cost of housing.

 

Author (s) Details

 

Akpan, Kufre
Department of Estate Management and Valuation, Akwa Ibom State Polytechnic, Ikot Osurua, Ikot Ekpene, Akwa Ibom State, Nigeria.

 

Raphael Nyeneime
Department of Estate Management and Valuation, Akwa Ibom State Polytechnic, Ikot Osurua, Ikot Ekpene, Akwa Ibom State, Nigeria.

 

Udosen, Victor
Department of Estate Management and Valuation, Akwa Ibom State Polytechnic, Ikot Osurua, Ikot Ekpene, Akwa Ibom State, Nigeria.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v6/5040

Market Arrivals and Prices of Moth Bean in Rajasthan State- A Trend Analysis | Chapter 5 | Insights into Economics and Management Vol. 1

 In this segment, the study of seasonal indices of arrivals and prices showed that prices were at the lowest when a large portion of the commodity was received on the market. In Nagaur and Jodhpur, there was a strong negative link between prices and Moth bean arrivals. In the Merta and Jaipur markets, however, there was a negative but non-significant link. However, the correlation between arrivals and prices in the Nokha market was positive, but not significant. Trend analysis of moth bean arrivals in the markets of Nagaur, Merta, Jodhpur and Jaipur showed a decreasing (non-important) trend with the exception of the market of Jodhpur where it was important. Nevertheless, the pattern values for arrivals in Over the years, the Nokha market has shown optimistic, though not major, trends. The rates of moth beans are depressed during the peak season. Government should therefore intensify efforts in the peak time in the procurement of moth bean at MSP. Marketing loans can also be used by farmers to withhold their goods for some time in order to receive remunerative prices during the mid-term and lean season. Credit facilities should also be provided for farmers under Gramin Bhandaran Yojana to provide village-level scientific storage facilities.

Author (s) Details

Dr. Subhita Kumawat
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

Dr. I. P. Singh
Department of Agricultural Economics, Swami Keshwanand Rajasthan Agricultural University, Bikaner, Rajasthan, India.

Dr. Prem Singh Shekhawat
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

Dr. Sheela Kharkwal
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

Dr. Ramesh Chand Asiwal
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

Mr. Sonu Jain
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

Dr. Vishnu Shankar Meena
Department of Agricultural Economics, Sri Karan Narendera Agricultural University, Jobner, Jaipur, Rajasthan, India.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/276

An Overview of Organic Agriculture: The Indian Scenario | Chapter 9 | International Research in Environment, Geography and Earth Science Vol. 4

 

India witnessed self-sufficiency in food production due to the grand success of Green revolution
introduced in 1960’s by the advent of the 20th century, the soil health was completely lost due to the
rampant use of the agrochemicals. Instead of undertaking a new anthropogenic venture to deal with
the problem, it was suggested that the farmers should go back to the arms of the nature and take up
organic farming to restore the loss. While few farmers readily took up this suggestion, some of them
showed a great deal of reluctance as the problems of productivity, costs and profits overshadowed
their decisions. Recent statistics point India to be amongst the top 10 countries, having maximum land
under organic cultivation. The organic market in India looks quite promising but it needs an additional
backup from the Indian government to combat the reluctance of Indian farmers towards organic
farming.

Author (s) Details

Dr. S. Roy
Department of Environmental Sciences, Savitribai Phule Pune University (Formerly University of Pune), Ganeshkhind, Pune- 411 007, India.

K. N. Dhumal
Department of Environmental Sciences, Savitribai Phule Pune University (Formerly University of Pune), Ganeshkhind, Pune- 411 007, India.

View Book :- https://bp.bookpi.org/index.php/bpi/catalog/book/249

Hazardous Activities and Effects on Market Fire in Nigeria | Chapter 6 | Current Research in Science and Technology Vol. 4

This research investigated the human awareness of hazardous activities and its effects on market fire in Nigeria. Three (3) main markets with high commercial activities selected for this study include Tejuosho market in Lagos, Mile 1 market in Port Harcourt and Ochanja market in Onitsha. Ten hazardous activities were identified within these selected markets. Methods for information gathering include interview, literature review, questionnaire, Occupational Health and Safety Standards (OHSAS) risk estimating procedures and statistical analysis tools. Results showed that human awareness of safety rules has significant effects on the annual level of market fire incident in Nigeria. Analysis of these hazardous activities indicated maximum risk score of 3000 and minimum of 9 for different risk consequences. The relationship of risks to fire incidents were directly proportional indicating that risk at 100, 200, 500, 1000, 2000, and 3000 results in 55, 109, 293, 545, 1090 and 1637 incidents respectively. Test of significance (t-statistics) from risk scores caused by hazardous activities at s=100 (major accidents) and s=40 (few accidents) indicated great significant. The study concluded that market fire incidents will significantly be reduced annually if the frequency of hazardous activities were reduced or totally avoided. The researchers recommended the need for fire Professionals to enlighten traders on proper management of hazardous activities before setting up active and passive tools for fire prevention and control. 

Author(s) Details
Professor Ify L. Nwaogazie
Department of Civil and Environmental Engineering, University of Port Harcourt, Nigeria.

View Book :-  http://bp.bookpi.org/index.php/bpi/catalog/book/176