An Analysis Of Farmers Access To Formal Credit In The Rural Areas Of Nigeria
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An Analysis Of Farmers Access To Formal Credit In The Rural Areas Of Nigeria
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Author : Saifullahi Sani Ibrahim
language : en
Publisher:
Release Date : 2013-09
An Analysis Of Farmers Access To Formal Credit In The Rural Areas Of Nigeria written by Saifullahi Sani Ibrahim and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09 with categories.
Scholarly Research Paper from the year 2011 in the subject Economics - Other, grade: none, Usmanu Danfodiyo University, Sokoto (School of Arts and Social Sciences), course: Economics, language: English, comment: Saifullahi Sani Ibrahim: Isa Kaita College of Education, Dutsin-ma, abstract: This study examines the factors that influence Farmers access to formal banking credit in the rural areas of Nigeria. The data used was collected from rural areas of Katsina State. The study used probit modelling approach to analyse the factors that influence farmers' accessibility to formal credit. The study found that the level of income, collateral, educational attainment and marital status have significant positive influence on farmers' access to formal credit, while age and sex have insignificant positive influence on the farmers' access to credit. On the other hand, interest rate and transaction cost have significant negative influence on the farmers' access to formal credit. Thus, the paper concluded that with the prevailing banking arrangement in Nigeria, rural farmers have little or no access to credit from conventional banks. Therefore, the study recommended the use of both group lending arrangement and character lending, so that farmers in the rural areas could be reached with formal credit.
An Investigation Into The Determinants Of Access To Finance In Rural Areas Of Katsina State
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Author : Saifullahi Sani Ibrahim
language : en
Publisher: GRIN Verlag
Release Date : 2011-10
An Investigation Into The Determinants Of Access To Finance In Rural Areas Of Katsina State written by Saifullahi Sani Ibrahim and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10 with Business & Economics categories.
Master's Thesis from the year 2011 in the subject Business economics - Investment and Finance, Usmanu Danfodiyo University, Sokoto (-), course: Economics, language: English, abstract: Access to finance is widely acknowledged as a catalyst for the reduction of poverty in rural areas. Along this line, this study investigates the determinants of access to finance in rural areas in Katsina state. A cross-sectional primary data was collected via questionnaire from a sample of 384 respondents. This study used probit modelling approach to analyse the factors that influence access to finance. The study revealed that collateral, financial literacy and gender have significant positive influence on access to finance, while age has an insignificant positive influence on access to finance. In contrast, interest rate and transaction cost have significant negative influence on access to finance. Thus, the study concluded that with the prevailing banking arrangement where collaterals are required and banks charge interest and also some level of literacy is required, rural dwellers will continue to find it difficult in relating with conventional banks. Therefore, the study recommended that rural dwellers should organise themselves into Credit Cooperative Societies, which could be used as Informal Financial Unit for Linkage Banking arrangement. The government (at all level) can also use these associations to channel their agricultural credit. It is also recommended that legal framework, be provided, that will pave way for the establishment of full-pledged interest-free banks (Islamic Bank) or conversion of existing commercial banks in rural areas into interest-free banks, since most of the rural dwellers do not like taking usurious loans because of their religious inclination.
Bundling Cash Loans With Agricultural Input Loans For Farmers In Nigeria A Pilot Study
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Author : Ambler, Kate
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2023-12-21
Bundling Cash Loans With Agricultural Input Loans For Farmers In Nigeria A Pilot Study written by Ambler, Kate and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-21 with Political Science categories.
Credit allows borrowers to access funds required to make an investment before returns materialize. For smallholder farmers, who must invest in agricultural inputs (i.e., seeds, chemicals, equipment, land, and labor) during the planting season before earning income from the sale of agricultural produce after harvest, credit helps alleviate liquidity constraints and promotes the ability of local agricultural production to support nutrition and food security. In rural Nigeria, access to credit—especially formal credit from financial institutions—is limited. Data collected in 2020 show that less than a third of households in rural Nigeria report using credit in the previous 12 months and only two percent of rural households borrowed credit from a financial institution. The rest is borrowed informally from friends, family, or local money lenders. In the absence of credit, smallholder farmers must cover the costs of agricultural production with their own funds that they have available during the planting season. This constrains agricultural production and contributes, in part, to the large gaps in agricultural productivity between high-income and low-in come countries around the world.
Credit Constraints And Agricultural Technology Adoption Evidence From Nigeria
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Author : Balana, Bedru
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2020-08-19
Credit Constraints And Agricultural Technology Adoption Evidence From Nigeria written by Balana, Bedru and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-19 with Political Science categories.
The agricultural sector in Nigeria is characterized by low productivity that is driven by low use of modern agricultural technologies, such as improved seed, chemical fertilizer, agrochemicals, and agricultural machinery. Poor access to credit is claimed to be one of the key barriers to adoption of these technologies. This study examines the nature of credit constraints among smallholder farmers – whether smallholders are credit constrained or not and the extent to which credit constraints emanate from supply-side or demand-side factors. Using multinomial probit and seeming unrelated simultaneous equations econometric models with data from the 2018/19 Living Standards Measurement Study-Integrated Surveys on Agriculture (LSMS-ISA) for Nigeria, the study investigates the factors affecting credit access and the effects of these credit constraints on adoption of four agricultural technologies – inorganic fertilizer, improved seed, agrochemicals, and mechanization. The results show that about 27 percent of survey households were found to be credit constrained – 12.8 percent due to supply-side factors and 14.2 percent due to demand-side factors. Lack of access to information and communication technology, extension services, and insurance coverage are the major demand-side factors negatively affecting smallholder’s access to credit. Registered land tiles and livestock ownership enhance credit access. Credit constraints manifests themselves differentially on the adoption of different agricultural technologies. While adoption of inorganic fertilizer and improved seed are significantly affected by credit constraints from both the supply and the demand-sides; use of agricultural machinery is affected only by demand-side factors, while use of agrochemicals is not affected from either supply or demand-side credit factors. From a policy perspective, our findings indicate that improving credit access via supply-side interventions alone may not necessarily boost use of modern agricultural technologies by smallholder farmers in Nigeria. Demand-side factors, such as access to information, extension services, and insurance cover, should equally be addressed to mitigate the credit constraints faced by smallholders and increase their adoption of modern agricultural technologies and improve their productivity.
The Impact And Accessibility Of Agricultural Credit
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Author : Kojo Spio
language : en
Publisher:
Release Date : 2013
The Impact And Accessibility Of Agricultural Credit written by Kojo Spio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This study is an exploratory analysis of the impact and accessibility of formal agricultural credit to small-scale farmers, based on data collected from a sample of farmers in two regions of South Africa's Limpopo Province. The main aims of the research were to: -- Determine the impact of credit and its shadow price. -- Investigate the efficiency of the rural financial market. -- Determine the characteristics and factors that influence the accessibility of credit in the small-scale farming sector, as well as the differential access to credit within the sector. The results of the study indicate that productivity differs between borrowers and non-borrowers. The difference of 40% in favour of borrowers is caused both by credit use (21%) and the farmers' inherent characteristics. Thus, credit can increase a randomly selected farmer's output b 21 per cent. The marginal credit return rate is 2.10 at zero loan, implying a 110 per cent shadow price of capital. The hypothesis that non-borrowers are credit constrained is empirically supported. The marginal credit effect at mean loan size is 1.35, indicating that the average loan size is below income-maximising size. This implies that loan-quantity rationing is still prevalent among borrowers, and that it is possible that borrowers may still be liquidity constrained but to a lesser degree than non-borrowers. The estimated shadow-price of credit (35%) exceeds the average interest rate (18%) also suggesting that the rural credit markets in the survey areas are not o9perating in the most efficient manner. It also indicates that the farmers in the study area can afford to pay the prevailing market interest rate. About 29.4% of the farmers sampled for the study had access to formal credit. More than 57% of the credit used by small farmers comes from informal credit. Access to formal credit is also highly skewed, and shows greater ease of access for large farm size than smaller groups. Factors such as area cultivated, family labour, title deed, non-farm income, remittances and pensions (social benefits), awareness of the availability of credit, and repayment records are found to be important variables in predicting accessibility of credit to small scale farmers in the study area. The main findings are: -- Small-scale farmers have limited and differential access to credit: those with holdings approaching commercial size are better-off. -- Rural agricultural financial markets are inefficient. Borrowers and non-borrowers alike are credit constrained. -- Credit is not too expensive to be used profitably: it effects on productivity can improve the welfare of small-scale farmers. In view of these findings, the following policy proposals are suggested. Firstly, the policy of not providing interest rate subsidies for loans is justified. Credit subsidisation, with its unfortunate history, should be avoided. Secondly, there is the need to restructure costly and poorly performing rural financial institutions to effectively and efficiently provide the needed services to its clientele. To ensure rapid credit delivery, it is also imperative that agricultural institutions are encouraged to decentralise their activities. Expansion of banking outlets is one of the most important surge factors affecting financial services. In addition, policy makers should also focus on critical elements of the financial infrastructure, such as the information system and training facilities, which are necessary for the development of the rural financial system in South Africa. Finally, the threshold for entry into the financial market is simply too high for many. Hence, creating a conducive environment in rural areas is one of the areas that will require more attention. Investment in rural infrastructure will also act as catalyst for the establishment of some of the missing institutions that cause market failures in rural financial markets.
Agricultural Credit And Finance For Rural Transformation In Nigeria
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Author : Lawal Mohammad Anka
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2013-01
Agricultural Credit And Finance For Rural Transformation In Nigeria written by Lawal Mohammad Anka and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01 with Agriculture categories.
In this Book Dr Lawal Mohammad Anka has made a Modest Attempt to Analyse and examine various important Issues like Adequacy, Utilization and Repayment of Agric Credit in Nigeria.The Book is Analytical and Comprehensive.While Investigating the reason for inadequacy some suggestions have been outlined for formulating suitable policies to achieve the desired objectives of providing Access to Credit to Small Scale Farmers.Finally this research Study will Contribute towards the Success of Government Agricultural Transformation Agenda of the 21st Century.
Agricultural Credit In Nigeria
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Author : Boniface Dan Etuk
language : en
Publisher:
Release Date : 1985
Agricultural Credit In Nigeria written by Boniface Dan Etuk and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Agricultural cooperative credit associations categories.
Report Of The National Agricultural Study Team Institutional Analysis And Survey Report
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Author : Nigeria. National Agricultural Credit Study Team
language : en
Publisher:
Release Date : 1986
Report Of The National Agricultural Study Team Institutional Analysis And Survey Report written by Nigeria. National Agricultural Credit Study Team and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Agricultural credit categories.
Do Credit Constraints Affect Agricultural Technology Adoption Evidence From Nigeria
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Author : Balana, Bedru
language : en
Publisher: Intl Food Policy Res Inst
Release Date : 2020-09-08
Do Credit Constraints Affect Agricultural Technology Adoption Evidence From Nigeria written by Balana, Bedru and has been published by Intl Food Policy Res Inst this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-08 with Political Science categories.
The agricultural sector in Nigeria is characterized by low productivity that is driven in part by low use of modern agricultural technologies. Poor access to credit is seen by many observers to be one of the key barriers to adoption of these technologies. Literature suggests that credit constraints impede individuals from investing in productivity enhancing agricultural technologies and, thus, poor farmers are unable to engage in high-return agricultural activities. Much policy discourse and research literature associates agricultural credit constraints with supply-side factors, such as farmers not having access to credit sources or high costs of borrowing, and, thus, recommend that such supply-side constraints be addressed to improve smallholders’ access to credit. However, demand-side factors, such as borrower’s risk-averse behavior, financial illiteracy, collateral requirements, or perceived high transactions costs, can also play important roles in credit-rationing for smallholder farmers.
A Proposed Agricultural Credit Program For Nigeria
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Author : Ohio State University. Agricultural Finance Center
language : en
Publisher:
Release Date : 1966
A Proposed Agricultural Credit Program For Nigeria written by Ohio State University. Agricultural Finance Center and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1966 with Agricultural credit categories.