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Table 2 Summary of parameters for economic surplus analysis

From: Value chain financing and plantain production in Nigeria: an ex-ante approach

Variables Value Description Source
Base year 2016 The start year for simulation Baseline data
Simulated period (years) 25 Number of projected years Baseline data
Discount rate (%) 15 Derived from lending rate of ACGS CBN
Price Po (USD/ton) 292 Average price of plantain per ton Baseline data
Production Q0 (tons/year) 54,665 Average quantity of plantain in tons Baseline data
Consumption (tons/year) 54,665 Average quantity of plantain consumed Baseline data
Demand elasticity (ɛ) 0.52 Assumed for plantain Author
Supply elasticity (ƞ) 1 Plantain supply elasticity Alston et al. (1995)
Annual crop growth rate (%) 4 Growth rate (2015–2016) CBN (2016)
Consumption growth rate C0  (%) 2.8 Population growth rate used as proxy UN (2015)
Yield at present (Ton) 13,500 Yield at start of simulation Baseline data
Percentage yield increase (∆Y) 18 Percentage change in yield of plantain Baseline data
Innovation time lag (years) 3 Time frame for VCF implementation WOCCU (2009)
Adoption lag (years) 5 Time frame for adoption of VCF Baseline data
Maximum adoption level (%) 50 Projected maximum adoption level Ayanwale et al. (2011)
Minimum adoption level (%) 10 Estimated minimum adoption level Akinola et al. (2009)
Cost of VCF (USD) 1.3 m Estimated cost of deploying VCF WOCCU (2009)
  1. Source: Author’s compilation