Economic Valuation of Forest Conservation by Villagers in Ibadan Oyo State Nigeria | Chapter 09 | Current Perspective to Economics and Management Vol. 2
Economic valuation of forest conservation by villagers living at the perimeter fence of International Institute of Tropical Agriculture (IITA), Ibadan, Oyo State, Nigeria was undertaken to describe socio-economic characteristics of the respondents, determine the total value of forest conservation using willingness to pay approach and assess the determinants of socio-economic characteristics of the respondents to their willingness to pay (WTP) for forest conservation. Multi stage sampling technique was adopted for the study, four hundred and eight respondents comprising of farmers, hunters, herbalists and herb sellers were randomly selected and interviewed using copies of well-structured questionnaires. Descriptive statistics and Logistic regression model was used to analysed the data collected. The results showed that farmers and hunters had average age of 55 and 57 years while herb sellers and herbalists had average age of 43 and 63 years respectively. Majority of the responde...