Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria
Agricultural sector faces series of risks which befall at different frequencies. This study examined the crop farmers' attitude to risks and their management methods in Ogbomoso, Oyo State, Nigeria. Specifically, the study examined the risk attitude of farming households, and analyzed the risk...
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| Format: | Article |
| Language: | English |
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Institute of Agricultural Economics, Belgrade
2022-01-01
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| Series: | Western Balkan Journal of Agricultural Economics and Rural Development |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/2683-4693/2022/2683-46932201037O.pdf |
| _version_ | 1828725239346888704 |
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| author | Oladipo Akanbi Sheu-Usman Olufemi Adekunle Adedayo Mukaila Ridwan Johnson Isola Abiodun |
| author_facet | Oladipo Akanbi Sheu-Usman Olufemi Adekunle Adedayo Mukaila Ridwan Johnson Isola Abiodun |
| author_sort | Oladipo Akanbi Sheu-Usman |
| collection | DOAJ |
| description | Agricultural sector faces series of risks which befall at different frequencies. This study examined the crop farmers' attitude to risks and their management methods in Ogbomoso, Oyo State, Nigeria. Specifically, the study examined the risk attitude of farming households, and analyzed the risk management strategies adopted by farming households in the study area. A four-stage sampling method was adopted to elicit response from selected 150 farming households for this study. The dataset was analyzed with the use of descriptive and inferential statistics. Safety-First-Model (SFM) was employed to analyze the risk attitude among crop farmers. The result revealed that majority of the farming households head was male and married with the mean age of 42 years and a moderately large household size of five persons and inheritance was the prominent means of farmland acquisition. Descriptive statistics showed that high cost of labor input topped the ranking of the risk source in the study followed by high input prices. Lacks of extension advice, low crop prices, were also common. Risk management methods employed to mitigate risk by majority of the farm families was sale of assets followed by income diversification. The SFM result revealed that all the food crop farmers were intermediate risk averse. |
| first_indexed | 2024-04-12T13:23:52Z |
| format | Article |
| id | doaj.art-429f6f35e4d948a28e6df52fb346f8d2 |
| institution | Directory Open Access Journal |
| issn | 2683-4693 2683-572X |
| language | English |
| last_indexed | 2024-04-12T13:23:52Z |
| publishDate | 2022-01-01 |
| publisher | Institute of Agricultural Economics, Belgrade |
| record_format | Article |
| series | Western Balkan Journal of Agricultural Economics and Rural Development |
| spelling | doaj.art-429f6f35e4d948a28e6df52fb346f8d22022-12-22T03:31:24ZengInstitute of Agricultural Economics, BelgradeWestern Balkan Journal of Agricultural Economics and Rural Development2683-46932683-572X2022-01-0141374810.5937/WBJAE2201037O2683-46932201037OAssessment of crop farmers' attitude to risk and management methods in Oyo State, NigeriaOladipo Akanbi Sheu-Usman0Olufemi Adekunle Adedayo1Mukaila Ridwan2Johnson Isola Abiodun3University of Ilorin, Department of Agricultural Economics and Farm Management, Ilorin, NigeriaUniversity of Ilorin, Department of Agricultural Economics and Farm Management, Ilorin, NigeriaUniversity of Nigeria, Unsuka, NigeriaUniversity of Ilorin, Department of Agricultural Economics and Farm Management, Ilorin, NigeriaAgricultural sector faces series of risks which befall at different frequencies. This study examined the crop farmers' attitude to risks and their management methods in Ogbomoso, Oyo State, Nigeria. Specifically, the study examined the risk attitude of farming households, and analyzed the risk management strategies adopted by farming households in the study area. A four-stage sampling method was adopted to elicit response from selected 150 farming households for this study. The dataset was analyzed with the use of descriptive and inferential statistics. Safety-First-Model (SFM) was employed to analyze the risk attitude among crop farmers. The result revealed that majority of the farming households head was male and married with the mean age of 42 years and a moderately large household size of five persons and inheritance was the prominent means of farmland acquisition. Descriptive statistics showed that high cost of labor input topped the ranking of the risk source in the study followed by high input prices. Lacks of extension advice, low crop prices, were also common. Risk management methods employed to mitigate risk by majority of the farm families was sale of assets followed by income diversification. The SFM result revealed that all the food crop farmers were intermediate risk averse.https://scindeks-clanci.ceon.rs/data/pdf/2683-4693/2022/2683-46932201037O.pdfrisk attituderisk managementsafety first model |
| spellingShingle | Oladipo Akanbi Sheu-Usman Olufemi Adekunle Adedayo Mukaila Ridwan Johnson Isola Abiodun Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria Western Balkan Journal of Agricultural Economics and Rural Development risk attitude risk management safety first model |
| title | Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria |
| title_full | Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria |
| title_fullStr | Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria |
| title_full_unstemmed | Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria |
| title_short | Assessment of crop farmers' attitude to risk and management methods in Oyo State, Nigeria |
| title_sort | assessment of crop farmers attitude to risk and management methods in oyo state nigeria |
| topic | risk attitude risk management safety first model |
| url | https://scindeks-clanci.ceon.rs/data/pdf/2683-4693/2022/2683-46932201037O.pdf |
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