Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State
Agricultural credit has long been identified as a major input in the development of agriculture and a majorcontribution to the national economy. However, despite this acknowledged significant role, there has been paucity of agricultural credit institutions to effectively alleviate theproblem ofacce...
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| Format: | Article |
| Language: | English |
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Agricultural Extension Society of Nigeria
2005-12-01
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| Series: | Journal of Agricultural Extension |
| Subjects: | |
| Online Access: | https://www.aesonnigeria.org/ajm/index.php/jae/article/view/214 |
| _version_ | 1811199005812588544 |
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| author | Mohammed K Yahaya Razak B Olajide |
| author_facet | Mohammed K Yahaya Razak B Olajide |
| author_sort | Mohammed K Yahaya |
| collection | DOAJ |
| description |
Agricultural credit has long been identified as a major input in the development of agriculture and a majorcontribution
to the national economy. However, despite this acknowledged significant role, there has been paucity of
agricultural credit institutions to effectively alleviate theproblem ofaccess to credit by peasantfarmers. In line with the
current thinking ofprivatization, this study examined the impact ofNigerian Agricultural Cooperative Bank (NACB) on
beneficiaries with the view to position the credit bank very well in the unfolding circumstance. Precisely, 182
beneficiaries (50%) of small-scale credit scheme in Ibarapa East local Government Area of Oyo state were randomly
selected from the list of beneficiaries of the loan scheme. Analysis of data obtainedfrom primary source through
questionnaire administration indicates that majority ofthe beneficiaries are male (69.2%), mostlyfarmers (83.5%) and
low-income earners (40.6%) earning N10, 000- 50,000per annum. Attitudinal disposition ofmajority ofbeneficiaries
ispositive (63.7%) andthey benefitedfromNACBloan asfarmers’ socio economic status (SES) soarsfrom 14.4% SES
before loan to 50.5% after loan procurement. The result of the inferential statistical analysis reveals that there exist a
significant difference betweenfarmers’ livestock production before (X = 9.1) and after (X = 12.6) and crop production
before (X- 11.7) andafter the loan procurement (X = 21.2). There is also a significant difference betweenfarmers SES
before and after loan procurement (t = 7.45; p< 0.001). It is therefore recommended that NACB should be
reinvigoratedandempowered tofacilitate its discharge of statutory roles as well as collaborate with agricultural based
NGOs for enhanced performance in line with the principle ofprivatization and deregulation of Nigeria's economy.
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| first_indexed | 2024-04-12T01:40:37Z |
| format | Article |
| id | doaj.art-5a1e5a7b8cdf4eeca32d5c2949779194 |
| institution | Directory Open Access Journal |
| issn | 1119-944X 2408-6851 |
| language | English |
| last_indexed | 2024-04-12T01:40:37Z |
| publishDate | 2005-12-01 |
| publisher | Agricultural Extension Society of Nigeria |
| record_format | Article |
| series | Journal of Agricultural Extension |
| spelling | doaj.art-5a1e5a7b8cdf4eeca32d5c29497791942022-12-22T03:53:12ZengAgricultural Extension Society of NigeriaJournal of Agricultural Extension1119-944X2408-68512005-12-018Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo StateMohammed K Yahaya0Razak B Olajide1Department of Agricultural Extension & Rural Development University of IbadanCentre for Communication & Reproductive Health Services (CCRHS) Opposite Government College Gate, P.O. Box 574 Bida, Niger State Agricultural credit has long been identified as a major input in the development of agriculture and a majorcontribution to the national economy. However, despite this acknowledged significant role, there has been paucity of agricultural credit institutions to effectively alleviate theproblem ofaccess to credit by peasantfarmers. In line with the current thinking ofprivatization, this study examined the impact ofNigerian Agricultural Cooperative Bank (NACB) on beneficiaries with the view to position the credit bank very well in the unfolding circumstance. Precisely, 182 beneficiaries (50%) of small-scale credit scheme in Ibarapa East local Government Area of Oyo state were randomly selected from the list of beneficiaries of the loan scheme. Analysis of data obtainedfrom primary source through questionnaire administration indicates that majority ofthe beneficiaries are male (69.2%), mostlyfarmers (83.5%) and low-income earners (40.6%) earning N10, 000- 50,000per annum. Attitudinal disposition ofmajority ofbeneficiaries ispositive (63.7%) andthey benefitedfromNACBloan asfarmers’ socio economic status (SES) soarsfrom 14.4% SES before loan to 50.5% after loan procurement. The result of the inferential statistical analysis reveals that there exist a significant difference betweenfarmers’ livestock production before (X = 9.1) and after (X = 12.6) and crop production before (X- 11.7) andafter the loan procurement (X = 21.2). There is also a significant difference betweenfarmers SES before and after loan procurement (t = 7.45; p< 0.001). It is therefore recommended that NACB should be reinvigoratedandempowered tofacilitate its discharge of statutory roles as well as collaborate with agricultural based NGOs for enhanced performance in line with the principle ofprivatization and deregulation of Nigeria's economy. https://www.aesonnigeria.org/ajm/index.php/jae/article/view/214ImpactNigerian Agricultural and Cooperative BankCredit Facilities |
| spellingShingle | Mohammed K Yahaya Razak B Olajide Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State Journal of Agricultural Extension Impact Nigerian Agricultural and Cooperative Bank Credit Facilities |
| title | Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State |
| title_full | Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State |
| title_fullStr | Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State |
| title_full_unstemmed | Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State |
| title_short | Assessment of the impact of Nigerian Agricultural and Cooperative Bank’s Credit Facilities on Small Scale farmers in Ibarapa East LGA of Oyo State |
| title_sort | assessment of the impact of nigerian agricultural and cooperative banka€™s credit facilities on small scale farmers in ibarapa east lga of oyo state |
| topic | Impact Nigerian Agricultural and Cooperative Bank Credit Facilities |
| url | https://www.aesonnigeria.org/ajm/index.php/jae/article/view/214 |
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