Wealth Creation and Entrepreneurial Performance of Pig Farmers in South-South, Nigeria

Abstract

This study examined the influence of respective factors of wealth creation on designated measures of entrepreneurial performance of pig farmers in South-South, Nigeria. Specifically, it established a nexus between financial capital and market share; human capital and turnover; social capital and customer satisfaction; and intellectual capital and customer loyalty; respectively. The study adopted a mixed-method approach of combining quantitative survey data and qualitative interviews. Using purposive and snowball sampling techniques, questionnaires validated by experts and pre-tested for reliability (with all constructs above the 0.7 Cronbach’s alpha values threshold) were personally administered to about 21 pig farmers drawn from each of the 6 South South states of Akwa-Ibom, Bayelsa, Cross-river, Delta, Edo and Rivers. Data analysis was carried out on a total population of 123 using descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression models. The information collected via structured interview was analyzed using thematic content analysis. It was found that despite the wealth creation opportunities of pig farming, particularly in terms of: job creation, income generation, rural development, food security, and lately, xenotransplantation; entrepreneurial performance of pig farmers in South-South, Nigeria are still sub-optimal because of certain impairments in the identified wealth creating factors of financial capital, human capital, social capital and intellectual capital. Specifically, the study found that: financial capital has a positive and significant influence on market share (β = 0.783, p = 0.000); human capital has a positive and significant influence on customer satisfaction (β = 0.884, p = 0.000); social capital has a positive and significant influence on turnover (β = 0.730, p = 0.000); intellectual capital has a positive and significant influence on customer loyalty (β = 0.788, p = 0.000) The study concluded that pig farmers in South-South, Nigeria leveraging on financial strength, skilled human inputs, social networks, and knowledge-based innovations are better positioned for greater exploits in designated entrepreneurial performance indices like market share, turnover, customer satisfaction and customer loyalty and recommended increased financial and training exposures through private-public partnership, customized to suit the peculiarities of small holdings that dominated pig farming in South-South, Nigeria.