The study analyzed the factors constraining the ease of access, utilization and repayment of agricultural credit of the Bank of Agriculture to farmers in North Central, Nigeria. Multi-stage sampling procedure was used to sample a total of 202 beneficiary farmers of BOA credit in the region. Primary data were elicited from the farmers with the aid of structured questionnaire that was complemented with interview schedule. Data analysis was done with descriptive statistics and principal component model. The result revealed that six (6) factors constitute the major constraints adversely affecting farmers’ access and utilization of BOA loans and they include bank structure and interest rates (10.8%), risks (9.5%), perception and poor loan administration (9.5%), integrity (7.8%), profitability (7.8%) and collateral constraint (7.7%) which explained a total of 53.2% of the variance in the 17 constraining variable components. The study concluded that these factors pose great threat to financing agricultural sector by formal institutions and consequently affecting agricultural productivity of the farmers in the region. It therefore calls for urgent intervention and remedy by all the relevant stakeholders. The study recommended that the procedures for the agricultural loan applications, approval and disbursement should be emendated to aid farmers’ ease of access of the loan and its optimal utilization which conveniently enhances the repayment. It was further recommended that the Bank embrace technology to make up for its poor spread and reach across the country.
The study assessed price transmission mechanisms of cassava in rural and urban markets of Benue State, Nigeria. Average monthly prices (₦/kg) of cassava spanning from January, 2008 to December, 2018 were collected and analyzed using ADF test, Johansen co-integration test, Error Correction Model (ECM) and Index of Market Concentration (IMC). The result of ADF test showed that the price series were stationary at levels with the co-integration test revealing the presence of co-integration between rural and urban market prices in the study area; and the ECM revealed that the speed of price transmission between rural and urban markets was weak and that adjustment towards the long run equilibrium in the short run was slow. The results of the Index of Market Concentration (IMC) was less than one (IMC < 1) and statistically significant at P≤0.01 probability level which implies the existence of high short-run market integration between rural and urban markets in the study area. It was recommended that, there was the need for efficient transmission of price information among the various market actors in the urban and rural markets through the establishment of market information centers to facilitate adequate communication and information flow.
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