EXPLORING THE SOCIO-ECONOMIC IMPACT OF HERBAL MEDICINE PRACTICES IN ONDO STATE, NIGERIA

Abstract

The study explores the Socio-Economic Impact of Herbal Medicine Practices in Ondo State, Nigeria, with a focus on four key health outcomes: Infant Mortality Rate (IMR), Under-five Mortality Rate (UMR), Maternal Mortality Rate (MMR), and Life Expectancy (LEX). Employing the Grossman Model of Health Demand as the theoretical framework, which conceptualizes health as capital that individuals invest in to enhance their well-being and productivity, the study examines the relationships between Herbal medicine practices and these health outcomes. Data were collected through a structured questionnaire administered to a sample of 400 respondents, drawn from a population of 5,316,600. The study utilized the logistic regression model and SPSS version 23 to analyze the data. The study also adopts the purposive/judgmental sampling technique, using Taro Yamane (1967) to determine the sample size. The findings reveal a nuanced relationship between Herbal medicine and health outcomes: while Herbal medicine is associated with a positive increase in life expectancy, it is inversely related to infant mortality, under-five mortality, and maternal mortality rates. The results underscore the importance of integrating Herbal medicine into modern healthcare systems to leverage its benefits in improving health outcomes and fostering socioeconomic development. The study advocates for policies that support research on Herbal medicine, enhance healthcare provider training, and establish regulatory standards to ensure the efficacy and safety of Herbal practices. By adopting these measures, societies can optimize health investments, reduce healthcare costs, and stimulate economic productivity, ultimately contributing to comprehensive socioeconomic growth.