AKSU Journal of Agricultural Economics, Extension and Rural Development

ANALYSIS OF RISK MANAGEMENT AMONG BROILER FARMERS IN KUJE AREA COUNCIL, FEDERAL CAPITAL TERRITORY, ABUJA, NIGERIA

Author:  Sheu A. Olohungbebe and Peter E. Ellah

Abstract
The study assessed risk management among broiler farmers in Kuje Area Council, FCT, Nigeria. The study used three-stage sampling technique and primary data were collected from 67 broiler farmers. The analytical technique involved descriptive statistics and principal component analysis. The results revealed that 79.1% of the respondents were males with a mean age of 42 years, 47.8% had education to secondary level and 53.7% had more than 1-3 years of farming experience with the mean of 5 years and 46.3% of the household size had a range between 1-5 members with a mean of 6 members. The result of the risks encountered by the broiler farmers showed that shortage of feed was the major production risk encountered with a mean value of 3.23, unforeseen funding shortage was the most critical financial risk encountered (3.18), unfavorable weather condition was the most significant environmental risk encountered (3.61), high cost of feed was the highest ranked market risk encountered (3.84). The risk management strategies adopted by the broiler farmers showed that Feed, general health, disease prevention, financial and environmental management strategies were the five factor components left after factor analysis. The study concludes that the risk management strategies were possibly not being properly implemented and adopted; hence, they often continue to encounter these risks. This study recommends that government in collaboration with broiler farmers should make good intervention and policies through the relevant agricultural agencies in order to minimize risk, reduce cost of production and achieve increase farm incomes in the study area.