<p>&nbsp;            <b>TABLE OF CONTENTS&nbsp;</b></p><p>Cover page ---------------------------------------------------------------------------------------------------------- i&nbsp;</p><p>Title page------------------------------------------------------------------------------------------------------------- ii&nbsp;</p><p>Declaration ----------------------------------------------------------------------------------------------------------- iii&nbsp;</p><p>Certification ----------------------------------------------------------------------------------------------------------- iv&nbsp;</p><p>Dedication -------------------------------------------------------------------------------------------------------------- v&nbsp;</p><p>Acknowledgement --------------------------------------------------------------------------------------------------- vi&nbsp;</p><p>Table of contents ------------------------------------------------------------------------------------------------------ viii&nbsp;</p><p>List of tables------------------------------------------------------------------------------------------------------------- xiii&nbsp;</p><p>List of figures----------------------------------------------------------------------------------------------------------- xv&nbsp;</p><p>Abstract ---------------------------------------------------------------------------------------------------------------- xvi&nbsp;</p><p>

Chapter ONE

1.0 Introduction--------------------------------------------------------------------------------- 1&nbsp;</p><p>1.1 Background information--------------------------------------------------------------------------------------- 1&nbsp;</p><p>1.2 The problem statement--------------------------------------------------------------------------------------- 9&nbsp;</p><p>1.3 The objectives of the study-------------------------------------------------------------------------------- 13&nbsp;</p><p>1.4 Hypotheses--------------------------------------------------------------------------------------------------- 13&nbsp;</p><p>1.5 Justification of the study---------------------------------------------------------------------------------- 13&nbsp;</p><p>1.6 Limitations of the Study --------------------------------------------------------------------------------- 15&nbsp;</p><p>1.7 Basic Assumptions -------------------------------------------------------------------------------------- 16&nbsp;</p><p>

Chapter TWO

2.0 Literature Review------------------------------------------------------------------ 17&nbsp;</p><p>2.1 The small-scale farms---------------------------------------------------------------------------------- 17&nbsp;</p><p>2.2 Origin and distribution of oil palm-------------------------------------------------------------------- 18&nbsp;</p><p>2.3 Oil palm development in Nigeria--------------------------------------------------------------------- 20&nbsp;</p><p>2.4 Social and economic value of oil palm-------------------------------------------------------------- 22&nbsp;</p><p>2.4.1 Social value-------------------------------------------------------------------------------------------- 22&nbsp;</p><p>2.4.2 The economic value--------------------------------------------------------------------------------- 23&nbsp;</p><p>2.5 Methods of oil palm production in Nigeria-------------------------------------------------------- 23&nbsp;</p><p>2.5.1 Sources of planting material----------------------------------------------------------------------- 23&nbsp;</p><p>2.5.2 Agronomy of the oil palm--------------------------------------------------------------------------- 24&nbsp;</p><p>2.5.2.1 Germination----------------------------------------------------------------------------------------- 25&nbsp;</p><p>2.5.2.2 Nursery----------------------------------------------------------------------------------------------- 25&nbsp;</p><p>2.5.2.3 Harvesting------------------------------------------------------------------------------------------- 27&nbsp;</p><p>2.6 Resource use in oil palm industry----------------------------------------------------------------- 28&nbsp;</p><p>2.7 Oil palm processing in Nigeria-------------------------------------------------------------------- 31&nbsp;</p><p>2.7.1 Local method--------------------------------------------------------------------------------------- 31&nbsp;</p><p>2.7.2 Modern method------------------------------------------------------------------------------------ 32&nbsp;</p><p>2.8 Funding ----------------------------------------------------------------------------------------------- 32&nbsp;</p><p>2.9 Costs and returns in oil palm industry----------------------------------------------------------- 34&nbsp;</p><p>2.10 The importance of oil palm in Nigerian economy-------------------------------------------- 35&nbsp;</p><p>2.11 Uses of oil palm products------------------------------------------------------------------------- 36&nbsp;</p><p>2.12 Conceptual framework---------------------------------------------------------------------------- 36&nbsp;</p><p>2.13 Theoretical framework---------------------------------------------------------------------------- 38&nbsp;</p><p>2.14 Analytical framework----------------------------------------------------------------------------- 39&nbsp;</p><p>2.14.1 Farm budgeting technique------------------------------------------------------------------ 39&nbsp;</p><p>2.14.2 Resource use efficiency--------------------------------------------------------------------- 40&nbsp;</p><p>2.14.3 Capitalization Techniques ----------------------------------------------------------------- 40&nbsp;</p><p>2.14.4 Optimum replacement model------------------------------------------------------------- 41&nbsp;</p><p>2.14.5 Price Instability and Production--------------------------------------------------------- 42&nbsp;</p><p>2.14.6 Production function------------------------------------------------------------------------ 43&nbsp;</p><p>2.14.7 Regression Analysis---------------------------------------------------------------------- 43&nbsp;</p><p>2.15 Empirical studies------------------------------------------------------------------------------- 47&nbsp;</p><p><b>

Chapter THREE

3.0 Research Methodology--------------------------------------------- 50&nbsp;</b></p><p>3.1 The study area----------------------------------------------------------------------------------- 50&nbsp;</p><p>3.2 Sampling procedure--------------------------------------------------------------------------- 53&nbsp;</p><p>3.3 Method of data collection---------------------------------------------------------------------- 54&nbsp;</p><p>3.4 Analysis of data---------------------------------------------------------------------------------- 55&nbsp;</p><p>3.4.1 Descriptive statistics------------------------------------------------------------------------ 55&nbsp;</p><p>3.4.2 Farm budgeting technique----------------------------------------------------------------- 55&nbsp;</p><p>3.4.3 Model specification--------------------------------------------------------------------------- 56&nbsp;</p><p>3.4.4 Optimum Replacement Model----------------------------------------------------------- 58&nbsp;</p><p>3.4.5 Price Instability and Production --------------------------------------------------------- 59&nbsp;</p><p><b>

Chapter FOUR

4.0 Results and Discussions ---------------------------------------- 61&nbsp;</b></p><p>4.1 Socio-Economic Characteristics of Small-Scale Oil Palm Producers ------------ 61&nbsp;</p><p>4.1.1 Age of Respondents ------------------------------------------------------------------------ 61&nbsp;</p><p>4.1.2 Marital Status ---------------------------------------------------------------------------------- 62&nbsp;</p><p>4.1.3 Distribution of Respondents According to Occupation ------------------------------ 63</p><p>&nbsp;4.1.4 Household Size ------------------------------------------------------------------------------ 63&nbsp;</p><p>4.1.5 Level of Education --------------------------------------------------------------------------- 64&nbsp;</p><p>4.1.6 Experience of Oil Palm Production ---------------------------------------------------- 65&nbsp;</p><p>4.1.7 Income --------------------------------------------------------------------------------------- 66&nbsp;</p><p>4.2 Oil Palm Production ------------------------------------------------------------------------- 68&nbsp;</p><p>4.2.1 Field Planting Period by Respondents ---------------------------------------------- 68&nbsp;</p><p>4.2.2 Success Rate of Field Planting ------------------------------------------------------- 69&nbsp;</p><p>4.2.3 Field Maintenance Activities ----------------------------------------------------------- 71&nbsp;</p><p>4.2.4 Interest in Oil Palm Production -------------------------------------------------------- 72&nbsp;</p><p>4.2.5 Relative Contribution of Variables to Production Using Linear and Double Log Functions -------------- 73&nbsp;</p><p>4.2.6 Loans and Credit ----------------------------------------------------------------------------- 77&nbsp;</p><p>4.3 Yield of Oil Palm -------------------------------------------------------------------------------- 79&nbsp;</p><p>4.3.1 National Output of Oil Palm 1998 – 2008 ----------------------------------------------- 81&nbsp;</p><p>4.3.2 The Optimum Replacement Age of Oil Palm ------------------------------------------ 82&nbsp;</p><p>4.4 Productivity of Oil Palm ------------------------------------------------------------------------ 88&nbsp;</p><p>4.4.1 Gross Margin Analysis -------------------------------------------------------------------- 88&nbsp;</p><p>4.4.2 Cost and Returns in Oil Palm --------------------------------------------------------- 89</p><p>4.4.3 Capitalization of Annual Net Returns on Oil Palm at 22% Discount Rate 1998 – 2007 for the Four Zones of The Study Area ----------------------------------------------------------------------------- 94&nbsp;</p><p>4.5 Price Instability and Production ------------------------------------------------------- 96&nbsp;</p><p>4.5.1 Declining Productivity of Oil Palm ------------------------------------------------- 98&nbsp;</p><p>4.6 Products of the Oil Palm---------------------------------------------------------------- 100&nbsp;</p><p>4.6.1 Uses of Oil Palm Products ----------------------------------------------------------- 101&nbsp;</p><p>4.7 The Constraints of Oil Palm Production ------------------------------------------- 103&nbsp;</p><p><b>

Chapter FIVE

5.0 Summary of Findings, Conclusion and Recommendations-- 106</b>&nbsp;</p><p>5.1 Summary of Findings ----------------------------------------------------------------- 106&nbsp;</p><p>5.2 Suggestions for Further Studies………………....................................… 108&nbsp;</p><p>5.3 Conclusion ----------------------------------------------------------------------------- 109&nbsp;</p><p>5.4 Recommendations ------------------------------------------------------------------ 109&nbsp;</p><p>References --------------------------------------------------------------------------------- 113&nbsp;</p><p>Appendices ---------------------------------------------------------------------------------- 119 <br></p>