An appraisal of the economic impact of herbal medicine trade in Abakaliki Local Government, Ebonyi State
- Project Research
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- Table of Content: Available
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Background of the study:
The trade of herbal medicine in Abakaliki Local Government, Ebonyi State, has experienced significant growth, contributing to the local economy and providing alternative healthcare options to residents. Herbal medicine, deeply entrenched in indigenous knowledge systems, is recognized not only for its cultural value but also for its economic potential (Okoro, 2023; Eze, 2024). In recent years, the commercialization of herbal products has attracted attention from both local entrepreneurs and policymakers. The economic benefits include job creation, income generation, and the preservation of traditional knowledge. However, the trade also faces challenges such as regulation, quality control, and market competition with conventional pharmaceuticals (Ibrahim, 2025). Studies suggest that the economic impact of this trade is multifaceted, influencing both individual livelihoods and community development. By appraising the economic contributions and challenges of herbal medicine trade, this study seeks to provide insights into how traditional practices can be effectively integrated into modern economic frameworks while ensuring quality and safety standards (Adeniyi, 2023).
Statement of the problem:
Despite the apparent economic benefits, the herbal medicine trade in Abakaliki faces regulatory challenges, quality assurance issues, and market instability. These challenges impede the trade’s full potential as a sustainable economic resource. Unregulated practices may compromise consumer safety and hinder the growth of the industry, thereby affecting both public health and economic development (Ola, 2024). Limited governmental oversight and a lack of standardized production protocols further complicate the situation (Nwachukwu, 2025).
Objectives of the study:
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To assess the economic contributions of the herbal medicine trade.
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To evaluate the challenges affecting market sustainability and product quality.
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To recommend policy measures for improved regulation and economic growth.
Research questions:
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What is the economic significance of herbal medicine trade in Abakaliki?
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What are the main challenges faced by traders in this sector?
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How can policy reforms enhance the trade’s sustainability and safety?
Research Hypotheses:
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The herbal medicine trade significantly contributes to local economic development.
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Lack of regulation adversely affects product quality and market stability.
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Policy reforms can improve the economic impact and safety standards of herbal products.
Significance of the study:
This study is significant as it elucidates the economic value of the herbal medicine trade, providing evidence for policy interventions that can enhance market sustainability and public safety. It contributes to the broader discourse on integrating traditional practices into modern economic systems (Udeme, 2023).
Scope and limitations of the study:
The study is limited to analyzing the economic impact of herbal medicine trade within Abakaliki Local Government, focusing on local economic benefits, challenges, and regulatory issues.
Definitions of terms:
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Herbal medicine trade: The commercial exchange of plant-based therapeutic products.
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Economic impact: The effect of an activity on the economic well-being of a community.
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Regulatory challenges: Difficulties in establishing and enforcing standards and guidelines.
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