Determinants of Loan Acquisition and Utilization among Smallholder Rice Producers in Lagos State, Nigeria

Ameh, Michael; Lee, Sang Hyeon

doi:10.3390/su14073900

Cited by 5 publications

(3 citation statements)

References 22 publications

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“…It also concludes that there is a need to adapt bank lending policies to farmers' different socio-economic and agricultural characteristics. Ameh and Lee (2022) found that annual farm income and interest rate positively impact loan access, while education, farming experience, farm size, off-farm income, and farm income significantly move loan use. Kadanalı and Kaya (2020) argued that one of the principal instruments in agricultural financing is agricultural lending.…”

Section: Agricultural Loans-a Literature Reviewmentioning

confidence: 99%

Factors that influence bank loans for agriculture in Romania

Topor,

Ionescu,

Fülöp

et al. 2023

J. Infras. Policy. Dev.

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Agriculture is a determining factor regarding the development of the Romanian economy, noting its importance for population consumption and as a supplier of raw materials for the relaunch of other industries. Agricultural financing consists of credits granted to natural or legal persons for developing agricultural activities, expanding agricultural holdings, and commercializing agricultural production. The objective of this research is the statistical analysis of the determining factors in granting loans to Romanian farms. The study is based on the content analysis of the accounting reports of the 45 Romanian farms included in the research sample, based on which the profile of the farmer from the selected counties (Alba, Cluj, Mures, Sibiu, Dambovita and Prahova) is outlined. The obtained results highlight the fact that factors such as the requested amount (SUSO) are directly influenced by the worked area (TELU), by the turnover (CIAF), R = 0.6228, but also by the total value of the assets (TOTAL) R = 0.454. At the opposite pole, there is a weak correlation between SUSO and current liquidity (LICU), R = 0.2754, and the value of recorded expenses (CHEL), R = 0.3102. Implementing a credit policy that facilitates access to financing sources would support farms in modernization and development, increasing their competitiveness and general viability.

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Section: Agricultural Loans-a Literature Reviewmentioning

confidence: 99%

Factors that influence bank loans for agriculture in Romania

Topor,

Ionescu,

Fülöp

et al. 2023

J. Infras. Policy. Dev.

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“…Larger household sizes may result to increase expenditure in the provision of social welfare (Ameh and Lee, 2022). Similarly, a study on household size by Liqiong et al (2019) in China showed that household size affected household income, credit and influenced agricultural loans accessibility.…”

Section: Socio-economic Characteristics Of Farmersmentioning

confidence: 99%

Analysis of factors influencing loan acquisition among small scale rice farmers in Kazaure Local Government Area, Jigawa State, Nigeria

Nkwi¹,

Ahungwa²,

Nkwain³

2022

dujopas

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The research was designed to analyze the factors that determine loan acquisition by rice farmers in Kazaure Local Government Area, Jigawa State, Nigeria. The study used primary data collected through interview schedule with the help of structured questionnaire from 215 randomly selected rice farmers. Data collected were analyzed using simple descriptive statistics and the appropriate form of multiple regression models. Results from the analysis showed that the farmers were in their active age, educated and experienced. About 69% of the farmers did not have access to formal loaned funds. Interest rate, farm input, farm size and loan times significantly affected loan acquisition. The major factors that influenced loan acquisition were; delays in release of funds, tedious documentation process, no acceptable collateral and long distances to make loan requests. Financial institutions were encouraged to grant loans on for timely supply of farm inputs and at affordable interest rate. Lending agencies should advice the respondents on appropriate farm size and loan to meet up with the farm needs.

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“…An agricultural loan is a financial service rendered to farmers for the purpose of production, processing, marketing and the like 1 . It includes institutional (formal) and non-institutional (informal) sources and the duration can be short, medium or long-term.…”

Section: Introductionmentioning

confidence: 99%

Socioeconomic Determinants of Small-Scale Crop Farmers' Access to Loan in Benue State, Nigeria

Ajah¹,

Ameh²

2023

Trends in Agricultural Economics

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Background and Objective: Access to loan is one of the major challenges limiting small-scale farmersʼ investment in agriculture in Nigeria.Unfortunately, it is a vital input in the production process. Against this backdrop, the study assessed small-scale crop farmersʼ access to loan in Benue State, Nigeria. The main objective of this study was to determine if farmersʼ socio-economic factors significantly influence access to loan. Materials and Methods: Benue State has an agricultural development programme (ADP) with an administrative structure for effective extension services. It was divided into zones, blocks and cells. From the cells, 300 farmers were selected through multistage technique while questionnaire was used for data collection. The data were analyzed using Logit regression model. Results: The Likelihood Ratio and Chi-square values of 262.06 and 14.62, respectively indicated that the model fitted the dataset well because the overall model was statistically significant (p<0.05). Among the 8 variables predicted to influence access to loan, only ownership of bank account was statistically significant (p<0.05). However, other variables also influenced access to loan but not at 5% probability level. In terms of relationship, marital status, household size, age, years of farming experience and owning of bank account positively influenced access to loan while gender, educational status and farm size were inversely related to loan access. Out of the 300 farmers interviewed, only 106 (35.33%) had access to loan and the average loan requested (N =246650.94) was significantly (p<0.01) higher than what was granted (N =171933.96). Conclusion: Some of the crop farmersʼ socio-economic characteristics could be used to predict access to loan in Benue State, Nigeria.

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Determinants of Loan Acquisition and Utilization among Smallholder Rice Producers in Lagos State, Nigeria

Cited by 5 publications

References 22 publications

Factors that influence bank loans for agriculture in Romania

Factors that influence bank loans for agriculture in Romania

Analysis of factors influencing loan acquisition among small scale rice farmers in Kazaure Local Government Area, Jigawa State, Nigeria

Socioeconomic Determinants of Small-Scale Crop Farmers' Access to Loan in Benue State, Nigeria

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