Roles of periodic markets in fostering rural development in emohua local area rivers state, Nigeria

Author: 
Elenwo Ephraim Ikechukwu and Weje Ikezam Innocent

The study examined the roles of periodic markets in fostering rural development in study area. Method of study was cross sectional survey and sources of data were primary and secondary sources. Random sample technique was applied to select six market out of the fourteen listed in the local government. Spatial and temporal patterns of markets were examined, figure 1. Data analysis was the use of likert scale weighted in the design of the questionnaires from (1-5) with (3.0) as criterion mean. Chi-square (X2) was used to test the hypothesis. Markets were held four and eight days, table 7 shows that the four days market generates about N1000000 (one million naira) per month, while the eight day market generates about N500, 000 (five hundred thousand naira). Null hypothesis (H0) was Accepted and the alternate hypothesis (H1) Rejected at values (7.8> X2 0.471). It implies that there was a statistical significant relationship between periodic market and the development of the sampled rural markets in the local government. The earnings from the markets creates chain multiplier effects on rural income growth which if encouraged by the government through the small and medium enterprise scheme (SMES) will boost the nation’s economy. Table 8 of the study shows responses of traders on ways of improvement of rural periodic markets operations. However, the result obtained as shown from the table indicates that all items 1-5 have their respective mean below the criterion mean (3.0) therefore the item statements validated was accepted by the traders as the ways of improvement of periodic market operations in the study area. Study recommends that rural farmers should be educated on new farming techniques to boost their crop yield and government to provide improved variety of seedlings and sensitization through agricultural extension officers of the local government to achieve desired results.

Paper No: 
2426