International Journal of Agricultural Extension and Rural Development Studies (IJAERDS)

EA Journals

Effects of Interest Rate on Access to Agro-credit by Farmers in Adamawa State, Nigeria


This study examined the effect of interest rates on access to agro-credit by farmers in Adamawa state. Respondents’ sources of credit, amount of credit obtained, factors affecting the volume of credit sourced by, factors affecting the volume of credit sourced by farmers, problems encountered in obtaining loans from formal and informal sources were investigated. Findings of the study reveals that majority of the farmers, 65% from Personal Savings. About 40% of the respondents obtained credit at the range of N100, 001-400,000. Regression analysis shows a co-efficient of multiple determination R2 value of 0.65 of the total variations in volume of credit sourced by farmers were accounted by actions of independent variables, namely; age, level of education, interest rate, credit awareness and farm income was statistically significant at various levels of probabilities.

Keywords: Access, Farmers, Interest, agro-credit

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