Improvement of Asphalt Production Investment in Nigeria Through Profitability Assessment: A Case Study of Oyo State Nigeria Construction Company (Published)
This study assessed the profitability of asphalt production in Oyo State, with an objective to improve the performance of revenue, and determine the profitability of asphalt production. Quantitative method was used for the collection of secondary data for the range of one year between august 2018 to July 2019. Descriptive statistics using charts, table, mean, depreciation, and inferential statistics using t-test and p-test was adopted. The t-test result shows that there is significant difference in granite production revenue trend yearly. The gross profit margin gives the fact that for each ₦100 a profit of 56.4% is made. The Net Present Value (NPV) gives a positive profit of ₦10,814,300 indicating profit gained within the period of August 2018 to July 2019. The positivity of the net present value is a chance for investors to invest in this kind of business which will also increase productivity, efficiency and a greater output.
Keywords: Depreciation, Efficiency, Net Present Value, Profitability, asphalt, revenue improvement