Analysis of Peasant Farmers’ Access to Agricultural Credit in Benue State, Nigeria

Accessibility and Repayment of Agricultural Loan among Farmers in Benue State, Nigeria

“…This also implies that an increase in the age of the farmers will result in 0.009% increase in high access to formal loan. This result opposes the finding of Asogwa et al [10] who found a negative relationship between age and access to loan among peasant farmers in Benue State, Nigeria.…”

“…This implies that an increase in the size of farm land increases high access to formal loan by 0.0090716%. This result agrees with the findings of Asogwa et al [10] who found a direct significant relationship between farm size and access to loan.…”

Agricultural Credit Sources and Determinants of Credit Acquisition by Farmers in Idemili Local Government Area of Anambra State

“…This is because farming operations require a lot of energy and are labour intensive especially in the rural areas, where crude farm implements are usually used. This agrees with the finding of Asogwa et al [3] and Olaleye [13] that small-scale farming is being carried out mostly by males, while females involve in light farm operations such as processing, harvesting and marketing. The table also shows that a fair percentage (40.00%) and (31.11%) of the respondents were within the age range of 41 years old to 50 years old and of 51 years old to 60 years old, respectively, while 22.22% and 6.67% of them fell within the age range of 31 years old to 40 years old and 61 years old to 70 years old, respectively.…”

“…While ordinary least square (OLS) multiple regression model was used in achieving objective (3). The four functional forms of the OLS multiple regression model, namely, linear, double logarithmic, exponential and semi-logarithmic functions, were fitted with the data.…”

“…The decline in the Nigerian economy, particularly in the area of agricultural productivity, has often been blamed on lack of credit facilities, which prevented many farmers from adopting improved practices, since some of them lack the collateral for secure loan or credit from financial institutions [3]. According to Alfred [4], acquisition and utilization of credit for agricultural purposes promote productivity and consequently improve food security status of a community.…”