Challenges of Accessing Agricultural Credits by Farmers for
Increased Food Production in Delta State, Nigeria

Odinwa; A. B. Johnny; B.; Ekeogu; C. O.; Chukuigwe; O.

doi:https://www.doi.org/10.56201/ijaes.v8.no2.2022.pg10.21

📄 Download Paper

Challenges of Accessing Agricultural Credits by Farmers for Increased Food Production in Delta State, Nigeria

Odinwa, A. B. Johnny, B., Ekeogu, C. O. and Chukuigwe, O.

Abstract

The study investigated the challenges of accessing agricultural credits by farmers for increased food production in Delta State, Nigeria, the specific objectives were to: examine the level of awareness of the sources of agricultural credits to farmers in the study area, ascertain the extent of accessibility of such agricultural credits to farmers, and identify the challenges facing farmers in accessing agricultural credits in Delta State. Descriptive survey design was adopted to assess the farmers. Purposive sampling technique was used to select three LGAs and a total of nine (9) communities while 32 respondents from each of the 9 communities were randomly selected given a total of two hundred and eighty-eight (288) respondents and used for the study. Weighted mean scores derived from the Likert type rating scale was used to analyze the data collated for the study, while the Analysis of Variance (ANOVA) was engaged for test of significance at 0.05% level of significance. The findings showed that the farmers were highly aware of Personal savings (GM = 2.49), Cooperative societies (GM = 2.47), Government bodies (GM = 2.28), Micro Finance bank (GM = 2.28) and Commercial Agriculture Credit Scheme (GM = 2.18) among others as sources of agricultural credits in Delta State. It indicated that Personal savings, Loan from Cooperative societies, Bank of Agriculture (BOA), Micro Finance Bank and the Commercial Agriculture Credit Scheme among other formal and informal sources of agricultural credits were highly accessible to farmers in the area. Finally, it showed in the degree of seriousness that: Lack of trust by the lending institutions (GM = 3.32), Poor leadership vision in agriculture (GM = 3.25), Lack of awareness of available agro credits (GM = 3.22), Low perception of farming enterprise by the people (GM = 3.20), High interest rate (GM = 3.05), Not having the required savings with the lending institution (GM = 3.02), beside others were the most serio

Keywords

ChallengeAccessingAgricultural CreditsFarmersIncreaseFood Production.

References

Iwena, O.A. (2008). Essential agricultural sciences. Lagos: Tonad Publishers Ltd. 6(ed) 1- 339. Johnny, B., Odinwa, A. B. & Ekeogu, C. O. (2021). Appraisal of the Sources and Uses of Agricultural Credits for Increased Food Productivity by Farmers in Delta State, Nigeria” Journal of Experimental Agriculture International, 43 (12): 8 – 19. Madukwe, M.C. & Akinnagbe, O.M (2014) Identifying and defining research problem in agricultural extension. A guide to research in Agricultural extension. Agricultural Extension society of Nigeria. 1-8. Odinwa, A.B., Emah G.N. & Albert C.O. (2016). Assessment of Agro-Credits available to farmers in Orashi Region of Rivers State, Nigeria. International Journal of Advanced Research in Social Engineering Strategies, 4 (1). 46-55. Odinwa, A. B., Isife, B. I. & Nlerum, F. E. (2019). Analysis of the extension needs of yam farmers for increased productivity in Rivers and Imo States, Nigeria. International Journal of Agriculture, Environment and Bioresearch. 4(6). 162 – 178. Odinwa, A. B., Isife, B. I. & Nlerum, F. E. (2019). Analysis of the extension needs of yam farmers for increased productivity in Rivers and Imo States, Nigeria. International Journal of Agriculture, Environment and Bioresearch. 4(6). 162 – 178. Odinwa, A. B., Emah, G. N. & Nlerum, F. E. (2020). Assessment of agricultural production services delivered to yam farmers in Rivers and Imo States, Nigeria. International Journal of Innovative Agriculture & Biology Research. 8(2):21-28 Ogebe, U & Ogah, S. N. (2020). Small holder „access to agricultural credit in north-central Nigeria. Journal of research and innovation in applied science i volume v, issue iii 2454-6. Okarenta, J., & Oribiyi, B.E. (2005). An agricultural production in Nigeria. Retrieved from www.cenbank.org/derfin/acsf/asp ud. Okeke, V. U., & Olisa, S. (2008). Socio-economic determinants of farmers? loan size in Benue State, Nigeria. Journal of Applied Sciences Research, 5(4), 354–358. Okojie, C., A., Monye-Emina, K., Eghafona, G. & Osaghae, J.O. (2017). Institutional environment and access to microfinance by self-employed women in the rural areas of Edo State. Washington. D.C. International Food Policy Research Institute, 20-36 Ololade, R.A., & Olagunju. F, I. (2013). Determination of access to credit among rural farmers in Oyo state, Nigeria. Retrieved from http://creativecommons.org/licence/by- nc/.3. 01. Ukwuaba, C, N., Owutuama, O. R. & Ogbu, M. (2020). Assessment of agricultural credit sources and accessibility in Nigeria review of agricultural & applied economics 23(2): 3 – 11. Yorgas G (2019). Credits sums, access and factors influencing credit demand among rural livestock farmers in Nigeria, Agricultural Finance Review.

Challenges of Accessing Agricultural Credits by Farmers for Increased Food Production in Delta State, Nigeria

Abstract

Keywords

References

More Articles from INTERNATIONAL JOURNAL OF AGRICULTURAL AND EARTH SCIENCE