CHARCOAL PRODUCTION AS AN ENTREPRENEURIAL LIVELIHOOD STRATEGY IN THE IKOLE LOCAL GOVERNMENT AREA OF EKITI STATE, NIGERIA

This study empirically examined the assessment of charcoal production as an entrepreneurial livelihood strategy in Ekiti, Nigeria. A multistage sampling procedure was employed to select the 66 respondents for this study. A structured questionnaire was used to obtain data, summarize, and present them using tables, frequency counts, percentages, and means, while budgeting analysis and linear multiple regression models were used to analyze the relationships between variables. The results revealed that there were slightly more male (56.1%) respondents in terms of charcoal production than female (43.9%). The results revealed that most (53%) of the charcoal producers were literate. The budgeting analysis of charcoal production showed that it is a profitable venture with an average net profit of ₦340,770 and a return on investment of 1.66. Using linear multiple regression, the study identified several key factors influencing charcoal production, including age (𝛽 = -0.453, p < 0.10), level of education (𝛽 = 1.334, p < 0.01), level of production (𝛽 = 0.932, p < 0), and years of experience in charcoal production (𝛽 = 0.418, p < 0.01). The livelihood strategies employed by charcoal producers focus on efficient processing and carbonization of wood and the training and retraining of producers. It is recommended that charcoal producers use alternative raw materials instead of fresh trees to produce charcoal