ASSESSMENT OF THE SOCIO-ECONOMIC CHARACTERISTICS OF SMALL SCALE ONION MARKETERS ON RISK ATTITUDE IN SELECTED LGAs OF SOKOTO STATE, NIGERIA

Abstract

The study assessed the socio-economic characteristics of small scale onion marketers on risk attitude in selected LGAs of Sokoto state. The study highlights factors determine onion marketers’ risk attitude in decision-making. A three - stage sampling technique was employed to select 210 small scale onion marketers for the study, primary data were obtained using a structured questionnaire and interview schedule. While, secondary information was sourced from previous studies, journal, and other official repository. Descriptive statistics was (frequency counts, percentages and means) used to assessed the socio-economic characteristics of the respondents. Tobit regression analysis was used to detemine factors influencing risk attitude of small scale onion marketers. The result shows that majority of the onion marketers had an average age of 46 years and male dominated (85.2%). Half (50.4%) of onion marketers were married, 51.4% had no formal education. Majority (54.7%) had between 6 -10 dependents. More than half of the markerters (58%) engaged in farming as a secondary occupation. The findings suggested that the entire (100%) respondents were registered members of onion marketers association, majority 83.3%, had over one decade experience. Majority of the onion marketers (79.0%) relied on radio as source of information. Also, (66.1%) of the respondents earned between, 501.000 -1,000,000.000 as annual income. Among the factors that determine the risk attitude of small scale onion marketers, the study revealed the significant variables whichinclude, years of experience in small scale onion marketing at p<0.01, major occupation at p<0.1, cooperative society at p<0.05, non-farm activities at p<0.1and the technical efficiencyatp<0.05. The findings showthat small scale onion marketers’ exhibited a high risk attitude. Also, factors that had significant impact on the risk attitude of small scale onion marketers’ are technical efficiency, allocative efficiency and economic efficiency. The study proffered that extension contact should be more frequent, in order to reduce the tendency of risk aversion level increase amongst small scale farmers.Also, Onion marketers association should put more efforts or priority in orientation of their members in adoptation of innovation necessary in reducing risk aversion attitude