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The spatial and temporal price variations of sawn-wood used for furniture making in Lagos, Ibadan and Benin were studied and evaluated. Four wood species popularly used for furniture making in the cities were studied. They are: Mansonia altissima (Mansonia), Khaya ivorensis (Khaya), Cordia millenii (Cordia) and Tectona grandis (Teak). A total of 193 furniture factories comprising of 154 small, 28 medium and 11 large scale were selected in the three cities through stratified random sampling technique. Structured questionnaire was used to generate data from 2001 to 2008 on the dimensions of various planks, their prices, sources and their availability. Further confirmation of the prices of the four wood species and their availability was carried out using sales receipt of sawnwood sellers, sawmillers, and timber contractor in the study area. Data collected were collated by species and analysed using Randomized Complete Block Design to test for the significant differences in price variation among the cities over a period of eight years. The model specification is Yijk = μ + bi + tj + eijk. The results showed that the mean annual price of the wood species varied significantly (P< 0.05) in the three cities between 2001 and 2008. The mean annual price variation of the wood prices was also significant (P |
