Determinants of Supply of Funds to Agricultural Sector from Formal Sources in Nigeria from 1992 to 2012

Ogbonna, S. I.; Osondu, Charles Kelechi

doi:10.15580/gjas.2015.3.051815074

Cited by 5 publications

(6 citation statements)

References 2 publications

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“…Breeding stock was positively related to the wealth status of the poultry enterprise owners at 5% significance level, an indication that wealth status of the poultry enterprise owners increased with increase in breeding stock introduced into the farm business. This agrees with Nnamerenwa (2012) and Ogbonna and Osondu (2015) who asserted that in poultry production, the increase of better breeding stock and infrastructures would translate to high level of increase in output and hence increase the wealth status of the poultry enterprise. Household income was positively related to wealth status and significant at 10% significant level.…”

Section: Factors Affecting Wealth Status Of Poultry Entrepreneurssupporting

confidence: 89%

Determinants of Wealth Status of Poultry Entrepreneurs in Aba Agricultural Zone of Abia State, Nigeria

Ogbonna¹

2020

JASD

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The study dwelt on determinants of wealth status of poultry entrepreneurs in Aba agricultural zone of Abia State, Nigeria. Multi-stage random sampling method was used for the study. Data were collected from a randomly sampled 60 poultry entrepreneurs using a structured questionnaire. Descriptive statistics and OLS regression model were used to analyze the data. The findings of the study showed that 50% of poultry entrepreneurs were within the age bracket of 36-45 years with mean age of 46.13. Results of the respondents’ marital status showed that 63.3% of entrepreneurs were married; 73.3% had secondary education and 66.7% of the respondent’s belonged to cooperative society. The results of the ordinary least square (OLS) showed that age, stock size and breeding stock were negatively related to the wealth status of the poultry entrepreneur at P≤0.05% significance level, implying that as age of the respondents increased, wealth status of the poultry operators decreased. Marital status and amount of credit received positively influenced wealth status of poultry enterprise at P≤0.01%. Also, household income was positively related to wealth status and significant at P≤0.1% level. The R2 value of 0.819 implied that wealth status of the respondents was explained by all the explanatory variables by about 82%. It was concluded that all the explanatory factors had positive influence on wealth status of the respondents except the age of the entrepreneurs that showed negative influence. The study recommended that government should assist by enacting policies that would compel formal financial institutions to give adequate credit to poultry farm owners’ increase their stock size. Investors who are married should stock improved breeds of poultry to enhance their income, savings and wealth.

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Section: Factors Affecting Wealth Status Of Poultry Entrepreneurssupporting

confidence: 89%

Determinants of Wealth Status of Poultry Entrepreneurs in Aba Agricultural Zone of Abia State, Nigeria

Ogbonna¹

2020

JASD

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“…In Nigeria, agriculture holds a crucial role as the economic backbone for many households and is a substantial sector of the country's economy (Ayeomoni and Aladejana, 2016). Its contributions to Nigeria's economy are diverse, encompassing the provision of food, contribution to the gross domestic product (GDP), employment opportunities, supply of raw materials for agro-allied industries, and generation of foreign earnings (in the past, agricultural exports were the primary source of foreign exchange earnings until the early 1970s) (Ogbonna and Osondu, 2015). Abayomi (2015) emphasized that increasing agricultural production is essential for achieving industrialization, as it accounts for approximately 70 percent of the sectors providing employment for the working population.…”

Section: Introductionmentioning

confidence: 99%

Effect of Bank Lending on Agricultural Output in Nigeria From 1981 – 2021 (Auto-regresive Distribution Approach)

SALISU,

ALAMU

2023

Preprint

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Lending plays a vital role in expediting agricultural modernization and encouraging farmer involvement in the development process. By alleviating financial constraints, lending offers the motivation to embrace new technologies that might otherwise be adopted at a slower pace. This study investigates the effect of bank lending on agricultural activities in Nigeria from 1981 - 2021 using a secondary form of analysis. Different diagnostic tests were carried out, which include descriptive statistics, a pear wise correlation matrix, unit root test, co-integration test, and an auto regressive distributed model (ARDL). The result of the study shows that commercial bank lending to agriculture and interest rates have a positive and statistically significant effect on agricultural output in Nigeria. The study recommends that the government should strengthen financial institutions, which are the credit agencies, in order to ensure efficient disbursement of funds to agricultural and manufacturing sectors and ensure that funds are not misappropriated for other purposes, in order to boost economic growth.

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“…The majority of households in Nigeria are dependent on agriculture for survival [4] . According to Ogbonna and Osondu [5] , the benefits of the agriculture sector to the population cannot be overemphasized. These benefits include food supply, the contribution of the sector to the national output, a high level of job creation, providing raw materials for both foreign and local industries, and, more importantly, earning from the exportation of agriculture products.…”

Section: Introductionmentioning

confidence: 99%

The effect of bank credits on agricultural output in Nigeria: 1981–2019

Ugbede Junior,

Nwankwo

2023

Sustain. Econ.

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The agriculture sector of the Nigerian economy has suffered a severe setback, particularly after the advent of oil in mass production. The government shifted attention completely to the oil sector at the detriment of the agriculture sector, resulting in a practice of mono-economy. However, in recent times, the government has seen the need to diversify the economy to reduce over-dependent on the oil sector. Thus, both the bank and the government have been channeling resources to the sector to boast its productive capacity. Thus, this study seeks to investigate the impact of bank credit on the agriculture sector from 1981 to 2019. The data was subjected to a preliminary test—unit root test—to ascertain the order of integration and subsequently the method of estimation. The unit root outcome shows a mixed order, which informed the adoption of the dynamic ARDL method. The finding from the estimation proved that the impact of bank credit on agriculture productivity in the long run is positive but weak. This suggests that bank credit to agriculture could not explain the variation in the performance of sectoral output. In contrast, the impact of government expenditure on the agriculture sector is strong and positive. This validates the significant contribution of government involvement in the revival of the sector. Thus, a recommendation is made of the need for banks to increase their credit and loan advances to the agriculture sector by lowering the interest charged on loans to the sector. Secondly, banks should give close monitoring to the funds loaned out to the agriculture sector to ensure the funds are truly channeled to the sector and not diverted. Moreso, the government can still do more for the sector to fully revive. More productivity-enhancing strategies, such as subsidizing modern farm equipment, seeds, and so on, can still be put in place by the government to assist the sector regain its lost glory.

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Determinants of Supply of Funds to Agricultural Sector from Formal Sources in Nigeria from 1992 to 2012

Cited by 5 publications

References 2 publications

Determinants of Wealth Status of Poultry Entrepreneurs in Aba Agricultural Zone of Abia State, Nigeria

Determinants of Wealth Status of Poultry Entrepreneurs in Aba Agricultural Zone of Abia State, Nigeria

Effect of Bank Lending on Agricultural Output in Nigeria From 1981 – 2021 (Auto-regresive Distribution Approach)

The effect of bank credits on agricultural output in Nigeria: 1981–2019

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