Smallholder food crop farmers’ participation in Bank of Agriculture (BOA) loan scheme in Ogun State, Nigeria

Adeoye, S.O.; Ugalahi, U.B.

doi:10.4314/agrosh.v17i2.5

Cited by 6 publications

(7 citation statements)

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“…The findings from this study are robust and are hoped to enhance knowledge among credit providers in the region about farmers' requirements for credit. Moreover, the policy recommendations would help the government and financial institutions to tackle issues identified while devising financial innovations aimed at sustainably providing credit services tailored to the needs of farmers (Olomola and Gyimah-Brempong, 2014;Adeoye and Ugalahi, 2017).…”

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confidence: 99%

Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria

Silong¹,

Gadanakis

2019

AFR

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Purpose Rural farmers’ access to farm credit in Nigeria has been very low, which affects farm performance, and credit providers have blamed for the problem in the sector. While this general perception persists the fact may be the case of credit demand, rather than just the risk-averse attitudes of credit providers. The purpose of this paper is to investigate significant factors influencing farmers’ credit demand to ensure efficient credit provision. Design/methodology/approach The research adopted mixed methods for an in-depth investigation into the problem. There were 216 research participants split into equal halves of men and women from six local government areas of Nasarawa State. Data collection methods employed structured interviews, focus group discussions, close/open-ended and key informant interviews. Analytical tools involved descriptive statistics, the logit and multinomial logit models to determine participants’ socio-economic characteristics, sources of credit, access, factors influencing credit demand generally and from the various sources of credit identified. Findings Findings reveal only 47.6 per cent of the participants accessed credit, with fewer women accessing than men. The most accessed forms of credit are from the semi-formal sources, with more men accessing from formal sources and more women from non-formal sources. Factors having significant influence on credit demand generally are education, group membership and household size. And from formal, semi-formal and non-formal credit sources are education, information on sources of credit, deposits, household size and marital status; education, deposits, group membership, household size, flock size; and education, group membership, and gender from the non-formal credit providers, respectively. Research limitations/implications Due to time constraint, this study data were collected concurrently with both quantitative and qualitative methods and did not allow for the interrogation of findings from one method with the other. In addition, the research categorised the agency of women based on marital status only as single or married and did not interrogate the agency of women further, this may be a limitation as some of the female participants are from polygamous homes. Originality/value Unlike the current concentration of Nigerian research of this kind with quantitative methods alone, this research contributes particularly to Nigerian research output and experience by triangulating both quantitative and qualitative methods to explore farmers sources of credit, access and factors determining access to credit in the study area.

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confidence: 99%

Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria

Silong¹,

Gadanakis

2019

AFR

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“…a large number of studies have analysed farmers' preferences for the two main sources of credit in the market (Boucher & guirkinger, 2007;Karaivanov & Kessler, 2018;Linh et al, 2019;Madestam, 2014;Turvey & Kong, 2010). However, most empirical studies use a binary econometric model (adeoye & Ugalahi, 2017;Lin et al, 2019). apart from studies by Tang and guo (2017) and Dang et al (2019), previous research has focused on the choice of either formal or informal credit.…”

Section: Progress In Developmentmentioning

confidence: 99%

“…These studies have generally used binary econometric models in their analysis methods of farmers' participation in credit markets. For example, researchers such as Muhongayire et al (2013) and Hananu et al (2015) applied a binary logit model, while others used a binary probit model (adeoye & Ugalahi, 2017;asante-addo et al, 2017;Lin et al, 2019). These two econometric approaches provide similar results in terms of econometric estimates.…”

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confidence: 99%

What Influences Rice Farmers’ Choices of Credit Sources in Côte d’Ivoire? An Econometric Analysis using the Multinomial Conditional Logit Model

Ouattara

Xiong

Bakayoko

et al. 2022

Progress in Development Studies

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In Côte d’Ivoire, the low participation of smallholder farmers in the credit market remains a matter of concern. This study examines the key determinants of rice farmers’ participation in the credit market. We use a Multinomial Conditional Logit model to consider the characteristics related to the use of different credit sources. A total of 588 rice farmers were randomly sampled from seven rice areas. Our findings reveal that gender, age, education level, experience in rice farming, rice plot size, lowland rice farming, extension contact, membership of a farmer-based organization, marketing of paddy rice, and off-farm income significantly influence the use of different credit sources. While credit requirements such as saving plus collateral, kinship/friendship, membership, favoured client, loan maturity, and the distance between borrowers and lenders are credit source-specific variables that significantly determine rice farmers’ choices between different credit sources. These empirical results show that in addition to farmer-specific variables, policymakers should consider the characteristics of credit sources for developing a credit market suitable for smallholder farmers.

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“…Apart from contributing about 40% to the Gross Domestic Product (GDP) of Nigeria, the agricultural sector is the leading foreign exchange earner for the country (Dossou, et al 2020). However, agricultural workers are underpaid and reside in rural sections of the nation Adeoye & Ugalahi, (2017). According to Balana & Oyeyemi (2022), one of the main causes of rural poverty is a lack of access to agricultural loans.…”

Section: Introductionmentioning

confidence: 99%

Effects of Micro-Credit Scheme on Rice Production among Smallholder Farmers in Kwali Area Council, Abuja

Obagbemi

Bamidele

Bako

et al. 2022

EJBMR

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This study examined the effects of microcredit schemes on rice production among smallholder farmers in Kwali area council Abuja, FCT. A survey research design was employed in the study. A total of 100 respondents were used in the study and they were sampled using a multi-stage sampling technique. Primary data was used for the study, and these were collected using well–structured questionnaires Regression analysis based on Cobb-Douglas model was conducted to check how micro-credit influences productivity. Based on the findings, it was discovered that 60% of the respondents were male, 52% were married with an average household size of 5 persons. Results further revealed that 70% of the respondents had 5-15 years of farming experience, and 45% of the respondents had secondary education. The main source of credit accessed by the smallholder farmers is the cooperative society. The study revealed as follows; educational level, household size, farming experience and access to credit were the significant variables that increased rice production among smallholder farmers. This study recommends that commercial banks should ensure that agricultural loan is giving priority, especially to smallholder farmers, as this will enhance the increase in quantity and quality of rice production.

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Smallholder food crop farmers’ participation in Bank of Agriculture (BOA) loan scheme in Ogun State, Nigeria

Abstract: ABSTRACT

Cited by 6 publications

References 10 publications

Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria

Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria

What Influences Rice Farmers’ Choices of Credit Sources in Côte d’Ivoire? An Econometric Analysis using the Multinomial Conditional Logit Model

Effects of Micro-Credit Scheme on Rice Production among Smallholder Farmers in Kwali Area Council, Abuja

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