Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 10, 2012 72 Analysis of Rhizophora Racemosa L Plant Business among Rural Dwellers in Southern Nigeria Albert, C. O. & Ekine, D.I Department of Agricultural and Applied Economics/Extension, Rivers State University of Science and Technology, Port Harcourt, Nigeria Corresponding author: carobinedo@yahoo.com Abstract The study was designed to identify the constraints to Rhizophora Racemosa business among rural dwellers in Southern Nigeria. Sub objectives were to; identify the socio-economic characteristics of traders; ascertain influence of socio economic characteristics and growth of the business and determine the constraints to the business. Structured copies of questionnaire and interview schedule were utilized to elicit information from a sample of sixty (60) respondents. Collected primary data were analyzed using descriptive statistics regression and factor analysis. Results revealed that elder people above the reproductive age (40%), illiterates (63.6%) and females (78.2%) dominated the business. There was a direct significant relationship between growth of Rhizophora racemosa and age (t=2.14), education (t=2.07), income (t=2.01) and years of experience (t=2.02). The processing efficiency of the production of 5 baskets was 1.79 which indicated a profitable business. Identified constraints include, lack of funds and absence of government support also affected the profitability of the business. It was concluded that government support in form of loans would increase the level of production. Keywords: Constraints, Rhizophora racemosa, business, rural dwellers 1.Introduction Rhizophora, meaning root bearing in Greek because of the presence of stilt root are amongst the most conspicuous of the trees inhabiting mangrove swamps, always growing at the edge of the water and disappearing as soon as the mud is converted into reasonably dry land ( Keay, 1989). There are three species represented in Nigeria (Rivers State); they are Rhizophora racemosa, Rhizophora mangle and Rhizophora harrisonii. According to Kabii and Spensar (1996) Rhizophora racemosa is the most commonest and largest of the three species. It colonizes the mud on the other most fringe of vegetation between high and low tide. The plant can grow up to 40m high and 2.5m in girth in favourable conditions but often forming shrubby tangles up to 10m high, with stilt roots and slender aerial roots hanging down from high up. The leaves of Rhizophora racemosa are 7.5-15cm long by 2.5-6cm broad tapering to the bluntly pointed apex, narrowly cuneate: stalk stout, up to 2.5cm long. Rhizophora racemosa is a reddish and very hard wood. Some of the local names for it are as follows: Yoruba: Ogba; Edo; Odonowe; Itsekiri; Odo; Urhobo: Urhe Nwerim; Ijaw: Agala; Igbo: ngala and Efik and Ibibio: nonung. Rhizophora mangle grows in a firmer and peatier soil on the landward side of a mangrove zone in West Africa and seldom attain a height of more than 15ft (Wall and Reid, 1993). The leaves are distinctive with abundant small corky warts on the under-surface. The third species Rhizophora harrizonii inhabits the middle belt of the mangrove forest, seldom competing with Rhizophora racemosa at the water edge. It can be distinguished by the longer, more slender and less compact inflorescences. The leaves of R. harrisonii are similar to those of other species unless that the mid- rib of R. harrisonii is being distinctively reddish. The benefits derived from the use of Rhizophora are enormous and can be viewed from different aspects in relation to its usages; such as the stem, bark and root. Inyang (2000) described Rhizophora racemosa as a very durable plant hence its usage for different purposes. The stem serves as a suitable material for building construction. It is used as support poles during casting, ceiling support and also as fences and walls of the corners of local houses because they rarely die and they give strength to the houses. The roots are used to make different local products some of the products include: basket, fish traps, fish racket among others (Giwa & Okeke, 1986). The rate of investment in the plant (Rhizophora racemosa) has not been encouraging over the years in Rivers State, despite the enormous investment potentials to it. This could be attributed to a number of factors; the poor state of the Nigerian economy and the over increasing rate of fund for business start-ups coupled with lack of awareness of the investment potential of the plant. The socio-economic wellbeing of a people is very important and this cannot be over emphasized. Government all over the world is giving particular attention to rural dwellers with emphasis on