Comparative Analysis of Economic and Profitability of Artisanal Gold Mining in Part of Niger and Osun States, Nigeria (Published)
Comparative analysis of economic and profitability of artisanal gold mining in part of Niger and Osun states was carried out to assess the cost of production, assess the production rate of alluvial and elluvial gold deposits in the study areas, determine the concentrates of alluvial and elluvial gold deposits in the study areas, compare the concentrates of alluvial and elluvial gold deposits in the study areas and determine the level of profitability in the study areas. The concentration of alluvial gold deposits was carried out using FAS – 121 Au Fire Assay, 50 g Fusion, AAS Trace Level analytical method while that of the elluvial gold deposits was carried out using FAS – 425 Au Fire Assay, 50 g Fusion, Gravimetric analytical method. The cost of production for alluvial gold deposits in Osun state were computed to be N30,000.00, N38,000.00 and N27,000.00 at Isereyun, Samuaye and Okere Oloja Villages respectively while that of elluvial gold deposits in Niger state were computed to be N125,000.00, N98,000.00 and N95,000 at Tutugo, Paiko and Bosso Villages respectively. The comparison of gold concentration in the two states shows that the elluvial gold deposits in Niger state has higher concentrates than the alluvial gold deposits in Osun state which could be due to the fact that elluvial deposits are mostly host rock for gold deposits. The level of profitability in alluvial gold deposits in Osun state ranges from 300% and 400% after the cost of production while that of elluvial gold deposits in Niger state ranges 300%, 400% and 500% after the cost of production. With the level of profitability of the alluvial and elluvial deposits, it can be observed that the profitability for all locations were close but there were differences in the cost of production.
Keywords: Gold, Mining, Nigeria, Profitability, artisanal, fire assay
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