Determinants of Loan Default and Repayment Rates by Cassava Farmers in South-South Nigeria: A Case Study of Bank of Agriculture And First Bank of Nigeria (Published)
The study of determinants of loan default and repayment rates by cassava farmer loan beneficiaries (CFLB) in Bank of Agriculture (BOA) and First Bank of Nigeria (FBN) was conducted between 2012 and 2014 in the South-south Nigeria. Multi-stage, purposive and random sampling techniques were used to select two hundred and fifty (250) cassava farmers who had benefitted from either BOA or FBN loans in the past five (5) years (2009-2013). Time-series data was gathered using two sets of well-structured questionnaires from the CFLB and the banks officials. The results of data analysed showed that BOA granted the highest loan of N1,671,497,140.00 compared to FBN which granted only N891,500,000.00 to the cassava farmers during the period (2009-2013).The lending criteria adopted by the two banks were similar except the difference in their interest rates- (BOA charged 12%, FBN charged 21%). Further analysis showed that BOA had a better repayment rate than FBN. Major constraints to loan administration in the study area were non-repayment of loan by beneficiaries, delay in repayment of loans and diversion of agricultural loans to non-agricultural sector among others. It was concluded that high default rate limited agricultural loan administration in the study area. It was recommended that less burdensome administrative procedures in acquiring loan should be ensured as well as adequate monitoring and evaluation of potential beneficiaries so as to minimize default rate.
Keywords: Cassava Farmer Loan Beneficiaries Bank of Agriculture, First Bank, Loan Default Rate, Nigeria, Repayment Rate, South-South
EVALUATION OF THE PERFORMANCE OF AGRICULTURAL LENDING SCHEMES IN NIGERIA (Published)
The broad objective of the study was to evaluate the performance of agricultural lending schemes in Nigeria for the period 2009 – 2012. The study was carried out in Benue, Kwara, Kaduna, Abia, Anambra, Rivers, and Ogun states respectively. The method of proportionate random sampling technique was used in selecting 185 borrowers who are registered with their state Agricultural Development Programmes (ADP’s). The sampling frame comprised all the registered ADP farmers in the surveyed states who took bank loan. Data collected were analyzed using frequencies, percentages, means, and multiple linear regression analysis. Results of the analysis showed that during the period 2009 – 2012, a total of 27,987 farmers applied for bank loan in Nigeria totalling N13,704,965,000.00, while 21,490 farmers were granted loan facility during the same period which totalled N7,188,575,000.00 leaving a credit supply gap of N6,516,390,000.00. The total amount of loan repaid by borrowers during the same period was N3, 523,018,005.00 which gave a repayment rate of 49% and a default rate of 51%. The loan granted to borrowers increased national output by 20.33%, and impacted positively on the income of borrowers. It was recommended that the government should continue to encourage increased funding to the agricultural sector for accelerated food production in Nigeria by small and medium scale farmers through the provision of institutional loans to these categories of farmers using ACGSF and CACS.
Keywords: Evaluation, Lending Schemes, Nigeria, Performance
EFFICIENCY OF AGRICULTURAL LENDING SCHEMES IN NIGERIA (Published)
The broad objective of the study was to evaluate the efficiency of agricultural lending schemes in Nigeria with a view to determining their impact on output and income of beneficiaries. The study was carried out in Benue, Kwara, Kaduna, Abia, Anambra, Rivers, and Ogun states respectively. The method of proportionate random sampling was used in selecting 185 borrowers who are registered with their state Agricultural Development Programmes (ADP’s). The sampling frame comprised all the registered ADP farmers in the surveyed states who took agricultural loan. Data collected were analyzed using frequencies, percentages, means, and multiple linear regression analysis. The results of the study showed that both small and medium scale farmers are efficient in the use of farm inputs, but small scale farmers are technically more efficient than medium scale farmers. Borrowers with secondary or tertiary education were efficient in inputs use, but borrowers with tertiary education were technically more efficient than borrowers with secondary education. The efficient lending schemes in Nigeria are ACGSF and CACS, but ACGSF was technically more efficient than CACS. It was recommended that the government should continue to fund farmers in Nigeria through ACGSF and CACS.
Keywords: Agriculture, Efficiency, Lending Schemes, Nigeria
SOCIO-ECONOMIC IMPORTANCE OF CHRYSOPHYLLUM ALBIDUM G. DON. IN RAINFOREST AND DERIVED SAVANNA ECOSYSTEMS OF ONDO STATE, NIGERIA (Published)
This study was carried out to determine the socio-economic importance of Chrysophyllum albidum in rainforest and derived savanna ecosystems of Ondo State and examines its level of domestication. From each ecological zone, a local government area (LGA) with good concentration of C. albidum trees was selected. The study covered a total of ten villages (i.e. five from each ecosystem). From each village, five farm households with C. albidum trees on their farms were selected. A structured questionnaire was administered on the head of each household. Results identified evidence of C. albidum trees domestication in the two ecosystems. C. albidum fruit is economically important in the two ecosystems and contributes to the socio-economic life of the people. Factors affecting the price of C. albidum fruits in the two ecosystems were fruit taste and fruit size. Thus, the demand will improve if sweeter and bigger sized fruits are produced through domestication programme.
Keywords: Chrysophyllum Albidum, Domestication, Ecosystems, Forest Food Trees, Nigeria, Socio-Economic Importance
Socio-Economic Importance of Chrysophyllum Albidum G. Don. In Rainforest and Derived Savanna Ecosystems of Ondo State, Nigeria (Review Completed - Accepted)
This study was carried out to determine the socio-economic importance of Chrysophyllum albidum in rainforest and derived savanna ecosystems of Ondo State and examines its level of domestication. From each ecological zone, a local government area (LGA) with good concentration of C. albidum trees was selected. The study covered a total of ten villages (i.e. five from each ecosystem). From each village, five farm households with C. albidum trees on their farms were selected. A structured questionnaire was administered on the head of each household. Results identified evidence of C. albidum trees domestication in the two ecosystems. C. albidum fruitis economically important in the two ecosystems and contributes to the socio-economic life of the people. Factors affecting the price of C. albidum fruits in the two ecosystems were fruit taste and fruit size. Thus, the demand will improve if sweeter and bigger sized fruits are produced through domestication programme
Keywords: Chrysophyllum Albidum, Domestication, Ecosystems, Forest Food Trees, Nigeria, Socio-Economic Importance
SOCIO-ECONOMIC IMPORTANCE OF CHRYSOPHYLLUM ALBIDUM G. DON. IN RAINFOREST AND DERIVED SAVANNA ECOSYSTEMS OF ONDO STATE, NIGERIA (Review Completed - Accepted)
This study was carried out to determine the socio-economic importance of Chrysophyllum albidum in rainforest and derived savanna ecosystems of Ondo State and examines its level of domestication. From each ecological zone, a local government area (LGA) with good concentration of C. albidum trees was selected. The study covered a total of ten villages (i.e. five from each ecosystem). From each village, five farm households with C. albidum trees on their farms were selected. A structured questionnaire was administered on the head of each household. Results identified evidence of C. albidum trees domestication in the two ecosystems. C. albidum fruitis economically important in the two ecosystems and contributes to the socio-economic life of the people. Factors affecting the price of C. albidum fruits in the two ecosystems were fruit taste and fruit size. Thus, the demand will improve if sweeter and bigger sized fruits are produced through domestication programme.
Keywords: Chrysophyllum Albidum, Domestication, Ecosystems, Forest Food Trees, Nigeria, Socio-Economic Importance
DETERMINANTS OF NET RETURNS TO AGRO FORESTRY IN THE HUMID RAIN FOREST BELT OF NIGERIA. (Published)
The study analyzed the determinants of net returns to agro forestry in the humid rainforest belt of Nigeria. The multi-stage random sampling technique was used in selecting the sample. The sample size comprised 120 agro forestry practitioners who were selected from the list provided by the staff of the Imo state Agricultural Development Programme (ADP). The results of the ordinary least squares multiple regression analysis showed that farm size, years of farming experience, tree crop density, educational attainment, extension contact, type of soil fertility replacement materials used, and farmers age are the major determinants of net returns to agro forestry practice in the state. It was suggested that co-operative farming and communal system of land use could significantly enhance participation in agro forestry in Imo State, Nigeria.
Keywords: Agro Forestry, Determinants, Humid Rainforest, Net Returns, Nigeria
INVESTIGATION INTO THE USE OF APPROPRIATE VALUES OF LIFE, IN TACKLING THE CHALLENGES OF THE NATURAL ENVIRONMENT OF NIGERIA (Published)
As part of the on-going effort to attract attention to the natural environment of Nigeria, which over the years has been much degraded, an investigation is carried out into the use of appropriate values of life, in tackling the challenges of this environment. The investigation reveals that environmental value, values of appropriate attitudes and justice, are the most appropriate values that could be deployed to tackle the challenges of the natural environment of Nigeria. Others such as aesthetic values, value abstinence from criminal activities that affect the natural environment and those of patriotism and nationalism, can also play some important role, in tackling these challenges.
Keywords: Challenges, Natural Environment, Nigeria, Values