Vol. 12(3), pp. 148-155. , 2024.

ISSN: 2384-6151

https://doi.org/10.14662/ijebm2024210

 

 

Full Length Research

 

Statistical Determination of the Potential of Wealth Generating and Entrepreneurship from Marine Algae Obtainable From Waters in the Niger Delta, Nigeria

 

1Mrs Omokaro B and 2 Mr Michael U. C

 

1 Department of Statistics, Delta State Polytechnic, Otefe-Oghara) 2 Department of Science Laboratory Technology, Delta State Polytechnic, Otefe-Oghara)  

 

 

 

Accepted 16 May 2024

Abstract

 

This study investigates the wealth-generating and entrepreneurial potential of marine algae from the Niger Delta, Nigeria. Marine algae, including microalgae and macroalgae, are abundant sources of bioactive compounds with diverse applications in pharmaceuticals and nutritional supplements. The study employed statistical methods to assess algae species' distribution, biochemical properties, and economic feasibility. Statistical analyses revealed significant variations in the abundance and distribution of algae species across different locations in the Niger Delta. Species B exhibited the highest levels of bioactive compounds: polyphenols (20.3 ± 0.7 mg/g), flavonoids (12.5 ± 0.4 mg/g), and carotenoids (3.4 ± 0.1 mg/g), significantly above that of Species A and C in all categories (p < 0.05). Moreover, Species B showed the strongest antimicrobial activity against pathogens such as Escherichia coli (inhibition zone: 14 ± 0.6 mm), Staphylococcus aureus (inhibition zone: 15 ± 0.7 mm), and Candida albicans (inhibition zone: 10 ± 0.4 mm), compared to Species A and C (p < 0.05).Economic feasibility analyses highlighted Species B as the most profitable for cosmetic products (net profit: 12,000 Naira/kg, p < 0.05), while Species A and C demonstrated higher profitability in nutritional supplements (net profit: 10,000 Naira/kg, p < 0.05). These findings underscore the potential for sustainable economic development through the cultivation and commercialization of algae-based products, contributing to both local economic growth and global health initiatives.

 

Keywords: Marine algae, Bioactive compounds. Statistical analysis, Algae distribution, Antimicrobial activity, Economic feasibility, Sustainable development

 

Cite This Article As: Omokaro, B., Michael, U.C (2024). Statistical Determination of the Potential of Wealth Generating and Entrepreneurship from Marine Algae Obtainable From Waters in the Niger Delta, Nigeria. Inter. J. Econ. Bus. Manage. Vol. 12(3), pp. 148-155.