The Role of Middlemen on Economic Development of Local Markets in Malumfashi Local Government Area - Katsina State, Nigeria
Keywords:
Economic Development, Distribution, Market, Middlemen, IntermediariesAbstract
The study examined the role of middlemen in economic development of Local Markets in Malumfashi local Government Area of Katsina State. Thespecific objectives are to determine the role that middlemen play in the distribution of economic goods and services as well as ascertaining their contribution to the economic development of Malumfashi Local Government area. The study adopted a survey research design with a population sample of 364 from a total population of 4151traders cutting across the study area. The study used a cross sectional data involving both primary and secondary datawhile questionnaire was the main instrument of data collection. used to explore the relationship between the variables. Analysis on data was carried out using using simple frequency table, percentages and regression analysis was conducted via (SPSS version 23 computation.The findings from the analysis revealed that middlemen play important role in the economic development and their activities contribute significantly to the economic development of the Local Government. Although they lack access to credit facilities, the study concluded that, middlemen are doing a great job by taking up the responsibility of bridging the gap that exists between the manufacturers and consumers; making goods and services availablein the market at all the time as such cannot be eliminated.Since Market intermediaries’ activities are engaged in all business spheres across Nigeria; diversification and strengthening of their activities is highly recommended thereby developing a vibrant value chain that will attract participants and investments in market intermediation activities andalso the middlemen should have access to viable credit facilities in order to improve their income and variety of products in their stores and warehouses.
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