Determinants of Savings among Rural Women in Borno State, Nigeria

Nuhu, H. S.; Bzugu, P. M.; Kwajaffa, A. P.

doi:10.9734/ajaees/2015/16056

Cited by 3 publications

(4 citation statements)

References 4 publications

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“…About 47% combined different form of saving to avoid the risk of losing their hard earned money. This is in line with the finding of Adebayo (2004) and Nuhu et al (2015), who confirmed that high percentage of households belonged to at least one savings club or the other in their respective study areas.…”

Section: Savings Mobilization Strategies Adopted By Respondentssupporting

confidence: 92%

“…The empirical studies conducted on savings mobilization in Nigeria focused more on rural households (Oluwakemi, 2013;Ekpung, Udude and Etim, 2015;Nuhu, Bzugu and Kwajaffa, 2015;Yusuf, Yusuf, Adesope and Adebayo, 2020), disregarding the urban and peri-urban households. Most of these studies focused on determinants of saving, but did not specifically estimate its effect on poverty.…”

Section: Introductionmentioning

confidence: 99%

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Savings Mobilization on Poverty Alleviation Among Peri-Urban Households in Kwali and Bwari Area Councils F.C.T Abuja, Nigeria

Olori

Nwahia

Siewe

2021

AGRISE

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Savings is increasingly being acknowledged as a powerful tool for poverty alleviation but the peri- -urban households who are mostly, low cadre workers, peasant farmers and small-scale business owners lacks savings services. This study analyzed savings mobilization on poverty alleviation among peri-urban households in Kwali and Bwari Area Councils Abuja. Cross-sectional primary data was used in this study. The data was collected with the aid of a well-structured questionnaire administered to 185 peri-urban farming households. Descriptive statistics (mean, frequency and percentage), Foster Greer Thorbecke index and ordered logit regression were used to analyze the collected data. The results that emanated from the analysis reveals that 98% of respondents are within the economic active age while 82% of them had formal education and average household size of 4 person. About 93% of households saved in one form or the other. About 51% of the respondent are non-poor while 49% are poor based on analysis of poverty status which revealed poverty incidence of 49%, poverty depth of 28% and poverty severity of 56%. The results further reveals that primary occupation and education reduces the likelihood of not being poor, but there is an increment in the likelihood of being very poor while farm size, savings, access to credit and income generated from secondary activities increases the probability of being non-poor, but reduces the probability of being very poor. Therefore, households should be encouraged by Governmental agencies to engage in secondary economic activities for multiple stream of income to improve on their poverty status. In addition, government should facilitate the establishment of Financial Institutions in the Peri- Urban areas to inculcate saving habit among the people.

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Section: Savings Mobilization Strategies Adopted By Respondentssupporting

confidence: 92%

Section: Introductionmentioning

confidence: 99%

Savings Mobilization on Poverty Alleviation Among Peri-Urban Households in Kwali and Bwari Area Councils F.C.T Abuja, Nigeria

Olori

Nwahia

Siewe

2021

AGRISE

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“…But in contrast with Okeke (2007), large family size had negative consequences, because the family heads bear heavy burden which greatly undermined their investment and savings capacities. However, as against the established facts by Umar et al (2014) and Nuhu et al (2015); Figure (2b) depicts that, as the household size increases, savings rate and capacity also increases. This was because large family sizes in the study area tend to realize more outputs than those with few family members.…”

Section: Age Distribution Of Millet Farmersmentioning

confidence: 47%

Microeconomic Analysis of Saving Determinants Among Small-Scale Millet Producers in Gombe State, Nigeria

Saleh¹,

Ahmad²,

Abdullahi³

et al. 2019

JASD

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The study examined savings determinants among small-scale millet producers in Gombe State. A multi-stage sampling technique was used to select 108 farmers from three autonomous farming localities of Dukku Local Government Area. Data were collected using structured scheduled interview and were subjected to both descriptive and inferential statistics for analysis. The results revealed the mean age of millet farmers was 45.99 years, most (52%) of which had family size range of 1–10 persons. The result also revealed the preponderant level of subsistence farm business, operated on average (3.8 ha) farm size by low annual income earners (₦ 293,978.46) with little or no formal education (7.06 years); having higher dependency ratio close to a unity; and had 21.26 years of experience. The coefficient of multiple determinations (R2) 0.9882; implies that 98.82% variations in the total savings were influenced by the socioeconomic characteristics included in the linear regression model. The results further revealed that, the aggregate farm income and farm size was significant (P<0.01) and (P<0.05), respectively. The dependency ratio was critical (P<0.01); thus, unit change in the dependency ratio leads to a decrease in savings by ₦ 43.06. However, diversification into the non-farming activities could improve the saving capacities of the rural households. Therefore, there is the need to encourage favorable conditions for rural investment, so as to enhance expansion into other non-farm activities. The higher level of income occasioned by the expansion in productivity could translate into a higher level of savings.

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“…The author found that ROSCAs makes significant difference to local communities" welfare, measured as a change in the household consumption. Nuhu et al (2015) analysed the determinants of ROSCAs among rural women in Borno State, Nigeria. The logit regression model was used to determine the effects of factors (socioeconomic, institutional and cultural) on the probability of savings of the respondents.…”

Section: Effect Of Roscas On the Performance Of Mses In Nigeriamentioning

confidence: 99%

Rotating and Savings Credit Association (ROSCAs): A Veritable Tool for Enhancing the Performance of Micro and Small Enterprises in Nigeria

Ben-Caleb

Adegboyegun

et al. 2020

Asian Economic and Financial Review

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ROSCAs are informal financial institutions serving the financial needs of many people especially in developing countries. They provide an alternative through which entrepreneurs raise funds to support their business operations. Therefore, this study evaluated the relationship between ROSCAs participation and MSEs performance in Nigeria. A sample of 240 ROSCAs members was selected using stratified random sampling. Data were analysed using Frequency and Percentages, Regression analysis and Goodman and Kruskal"s gamma statistics. Findings showed that significant and positive relationship exist between ROSCAs participation and MSEs performance (G = 0.768, p< .005). By establishing this connection, the analysis elucidates the prominent role of ROSCAs in enhancing MSEs performance. Additionally, this paper discusses factors influencing participation in ROSCAs and the implications on ROSCAs existence. Internal regulations of Formal Financial Institutions (FFIs) influence ROSCAs participation positively and significantly while income, level of education and attitude of ROSCAs members" impacts significantly but negatively on ROSCAs participation. This study examines rationale for joining ROSCAs and findings indicate that financial motives outweigh all other motives. Our analysis suggested that ROSCAs participation is beneficial because it serves as a mechanism for saving, provides capital with little or no interest, strengthens networks and helps to accumulate assets. Consequentially, it would be important for policy reforms to integrate ROSCAs to FFIs rather than seeking to eliminate them in order to pave way for appropriate linkages and integration of the two systems. Contribution/ Originality: This study is one of very few studies which have examined the motives for ROSCAs participation among entrepreneurs in Nigeria.

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Determinants of Savings among Rural Women in Borno State, Nigeria

Cited by 3 publications

References 4 publications

Savings Mobilization on Poverty Alleviation Among Peri-Urban Households in Kwali and Bwari Area Councils F.C.T Abuja, Nigeria

Savings Mobilization on Poverty Alleviation Among Peri-Urban Households in Kwali and Bwari Area Councils F.C.T Abuja, Nigeria

Microeconomic Analysis of Saving Determinants Among Small-Scale Millet Producers in Gombe State, Nigeria

Rotating and Savings Credit Association (ROSCAs): A Veritable Tool for Enhancing the Performance of Micro and Small Enterprises in Nigeria

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