IMPACT OF PERIODIC MARKET ON ECONOMIC DEVELOPMENT OF KONSHISHA LOCAL GOVERNMENT AREA OF BENUE STATE

ABSTRACT This research examined the impact of periodic market on economic development of Konshisha Local Government Area of Benue State. The objectives of the study were to: assess the socio-demographic characteristics of the people that patronizes the periodic markets, examine the impact of periodic markets on job creation, evaluate the impact of periodic market on income and revenue generation, assess the impact of periodic markets on infrastructural development and suggest ways of improving the viability of the periodic markets in Konshisha LGA of Benue State. Two null hypotheses were formulated to guide the study. Questionnaire was use to elicit data from 400 respondents. The data collected were analysed using simple percentages in the case of research questions and chi-square (χ2) in the case of the hypotheses at 0.05 level of significance. The result of the χ2 for the first hypothesis (calculated value= 194, table value 3.84) revealed that periodic market has created jobs for the people of Konshisha LGA of Benue State. The result of the χ2 for the second hypothesis (calculated value = 299.275, table value 3.84) revealed that periodic market has positive impact on income generation in Konshisha LGA. The study further found out that periodic had employed people as casual labourers, traders, market officials among others. The study concluded that the presence of periodic market in the study area had brought tremendous economic benefits to the people and the rural communities. The study recommended that government should provide credit and loan facilities to the people who patronize periodic market so as to improve the viability of the market.