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The Impact Of The Distribution And Utilization Of Oil Palm On The Socio Economic Development
[A CASE STUDY OF ORUK ANAM LOCAL GOVERNMENT AREA]
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1.2 STATEMENT OF THE PROBLEM
Price of palm oil is largely affected by
production or output of the palm oil within the year and general
inflation (Fly, 2003). Past policies have aimed at increasing
agricultural productivity through increased investment in agronomic and
production system research. The discovery of petroleum in the late 50’s
and its exploitation and export in the early 70’s changed the economic
scenario in favour of oil as the chief revenue earner for the nation.
The global economic recession of the mid-80’s however exposed the
inherent structural weakness of import substitution as a strategy for
industrialization. With the coming of the Structural Adjustment
Programme (SAP) in 1986 and the concomitant devaluation of the naira,
Nigeria manufacturers found it’s difficult to import the needed raw
materials and machinery to produced profitable policy formulation has
failed to take cognizance of the fact that production and marking
constitute a continuum and that the absence of the development in one
retards progress in the other (Olayemi, 1972).It in view of this that
the researcher intends to investigate the impact of the distribution and
utilization of oil palm on the socio-economic development in Oruk Anam
LGA.
1.3 OBJECTIVE OF THE STUDY
The main objective of the
study is to investigate the impact of distribution and utilization of
oil palm on the socio-economic development of Oruk Anam LGA ofAkwaIbom
State. But to aid the completion of the study, specific objective
includes:
i) To investigate the impact of oil palm distribution on the socio-economic development of Oruk Anam
ii) To ascertain the role of oil palm distribution on the socio-economic development of Nigeria.
iii) To evaluate the benefit of oil palm production on the economic development of Nigeria
iv) To ascertain the role of government in aiding effective production and distribution of oil palm in Oruk Anam LGA
1.4 RESEARCH HYPOTHESES
To aid the completion of the study, the following research hypotheses were formulated by the researcher
H0:oil palm distribution does not play any significant role on the socio-economic development of Nigeria.
H1:oil palm distribution does play a significant role on the socio-economic development of Nigeria.
H02: government does not play any role in aiding effective production and distribution of oil palm in Oruk Anam LGA.
H2:government does play a significant role in aiding effective production and distribution of oil palm in Oruk Anam LGA
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