ASSESSMENT OF WOOD-PLANKS PROCESSING IN AKOKO NORTH-EAST LOCAL GOVERNMENT AREA OF ONDO STATE

This study critically assesses the processing of wood-planks in Akoko North-East Local Government Area of Ondo State, Nigeria, with a focus on its profitability, market structure, constraints, and socio-economic contributions. Given the growing economic relevance of the timber industry in Nigeria, especially in rural and semi-urban areas, the research sought to evaluate the current state and efficiency of wood-planks processing as a means of livelihood and economic empowerment. A multi-stage sampling technique was employed to select 80 wood planks processors across selected towns in the study area. Data were collected through structured questionnaires and analyzed using descriptive statistics, budgetary analysis, and multiple regression models. The findings reveal that wood-planks processing is a profitable venture, with a return on investment (ROI) of 3.43, indicating significant economic returns for participants. The most demanded species include Iroko (Milicia excelsa), Mahogany (Khaya spp), and Teak (Tectona grandis). Key factors influencing price determinants included years of experience, age, household size, and membership in processing associations. However, processors face several challenges such as poor infrastructure, fluctuating fuel prices, inadequate credit facilities, high transportation costs, and erratic power supply. The study concludes that while wood-planks processing contributes significantly to local income generation and employment, its full potential is undermined by structural inefficiencies and policy-related barriers. It recommends targeted government intervention in infrastructure development, financial access, and sustainable forestry practices to enhance productivity and ensure long-term sector viability.