Economic Appraisal of Some Selected Quarries Operation in Ondo State, Nigeria

Authors

  • M. M. Melodi Department of Mining Engineering, The Federal University of Technology, Akure, Nigeria
  • T. G. Onipede Department of Mining Engineering, The Federal University of Technology, Akure, Nigeria

Keywords:

Economic appraisal, Quarry operation

Abstract

This study examines the economic assessment of some selected quarries operations in Ondo State, South-Western Nigeria. Ten quarries were visited in the course of this study and relevant data were collected using a well-structured questionnaire. All the companies share a total of 15.89x106 tons of estimated granite reserve. Estimated royalties generated by the Federal Government is N364,440 day-1. A total of 272 people are directly employed by the quarries, while 116 people are employed indirectly in the companies' communities. The study also revealed the effectiveness of each selected company based on their production and the profitability of each company. It was also found out that quarry operations in Ondo State are very profitable and rewarding for investors but government should improve power supply to encourage investors and reduce the cost of operating the quarries.

References

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Published

2019-05-05

Issue

Vol. 11 No. 2 (2017): FUTA Journal of Engineering and Engineering Technology

Section

Articles

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