Contributive Roles of Selected Cottage Industries towards Poverty Reduction in Odeda Local Government Area of Ogun State, Nigeria

Abstract

The study assessed the contributive roles of selected cottage industries towards poverty reduction in Odeda Local Government Area of Ogun State, Nigeria. Simple random sampling technique was used to select seventy (70) respondents for the study. Descriptive statistics and Pearson Product Moment Correlation were used to analyze the data. Result showed that most (92.86%) of the respondents were less than 50 years old and had one form of formal education or the other. The mean household size was 7 people. Majority (60.00%) of the respondents had been in the cottage industries for more than 6 years. Almost half (42.86%) of the respondents got their capital from Cooperative societies while 28.57% got theirs from friends and relatives. The common cottage enterprises in the study area include, soap making, tie and die, knitting, weaving baskets, cassava processing, hair dressing and bread making. Estimated monthly profits of ₦7,100.00 to ₦27,050.00 were realized. Inadequate credit facilities and high cost of the inputs were the major problems confronting cottage industries in the study area. It is hereby recommended that financial institutions should make credits available and accessible to the cottage operators while government should provide social amenities to the rural areas to enhance efficient production.