Patronizing Agricultural Cooperatives: The Journey towards Zero Hunger Attainment in South-South States, Nigeria (Published)
The study focused on farmers patronizing agricultural cooperative societies as a journey towards zero hunger attainment in South-South States, Nigeria. A multi-stage sampling procedure was used to select a sample size of 144. A validated questionnaire was used to obtain data from respondents. Descriptive and inferential statistics were employed to analyze the data obtained. Results showed that the average age, farming experience, household size, farm size and annual farm income were 46 years, 11 years, 6 persons, 3 Ha and N282,638.89 respectively. The level of participation of the respondents activities in their groups was highest in payment of monthly dues and other necessary contributions (mean = 3.60) and the most benefit derived was increased human capacity development in farming (mean = 3.48). In addition, most (59.03%) of the cooperators indicated their high level of satisfaction with the groups they belong. Regression results showed that respondents derived significant (p<0.05) benefits from their belonging to cooperative groups. It was concluded that farmers were satisfied by patronizing cooperative societies as a strategy to attain zero hunger amongst households. The study recommends that there should be awareness creation for new entrants to join cooperative societies so as to accomplish zero hunger.
Keywords: Benefits, Cooperative Societies, Farmers, Participation, Satisfaction, zero hunger
Loan Repayment Behavior among Member of Farmers Multipurpose Cooperative Societies in Anambra State (Published)
This study examined the loan repayment behavior of farmers multipurpose cooperative societies in Anambra State. The famers are poor and cannot raise the money needed for farming and when they obtain loan repayment is usually poor. The study specifically examined the range of amount of loan applied for, amount approved, amount disbursed and repaid by the cooperative farmers. It investigated the socioeconomic factors affecting the farmers’ credit repayment ability and ascertained major problems affecting the farmers in loan repayment using t-test statistics and a multiple econometric model of the Ordinary Least Square (OLS). Findings revealed that there is a significant difference between the amount of loan received and amount repaid by the cooperative farmers. The joint effect of the explanatory variable in the model account for 91.9% of the variations in the factors affecting the farmers’ credit repayment ability. Four coefficients (educational qualification, farm size, loan application cost, and collateral value) are significant. Age, membership duration and income of the farmers are not significant but they show a positive relationship with loan repayment. Factors affecting the farmers’ credit repayment ability are significant at 0.000 significant level. The study therefore recommends among others that cooperative societies should endeavour to educate the farmers on financial discipline and management because it has proven to significantly influence loan repayment. Lending institutions should ensure that whoever they are lending to meets a minimum threshold in asset value before loans are accessed. This will help to reduce defaulters.
Keywords: : Loan Repayment, Farmers, Multipurpose Cooperative, Nigeria
Analysis of Sum Insured And Co-Operators’ Contribution to Naic Products in Oyi and Ayamelum Local Government Areas of Anambra State, Nigeria (Published)
The study investigated NAIC products and the performance of farmers focusing on the sum insured and farmers’ contribution to NAIC products in Oyi and Ayamelum LGAs of Anambra State. Major objectives were to ascertain whether time has significant impact on total sum insured and co-operators’ contribution over the observed period, to determine whether there exist significant difference between sum insured and farmers contribution for Oyi and Ayamelum LGAs and to ascertain the extent of relationship between sum insured and co-operators’ contribution for the two local government areas. Secondary data was used for this case study research. Data for Oyi and Ayamelum LGAs were extracted sfrom NAIC Annual Reports 2010-2013, and were statistically analyzed, using time series models, paired sample T-test analysis and Pearson’s product moment correlation coefficient. Result showed that time (month) has significant impact on monthly co-operators’ contribution and time contributed significantly to the behavior of sum insured in the two local government areas. Thus, the seasonal analysis found sum insured to be least in the month of May and highest in October. Analysis showed that co-operators’ contribution to NAIC products was least in the months of May and December. Paired sample T-test revealed the existence of a significance difference in sum insured for Oyi being greater than sum insured for Ayamelum with a mean difference of N3,190,690. 65.8% correlation was found to exist between sum insured for Oyi and Ayamelum LGAs. Paired Sample analysis revealed a significance difference between co-operators’ contribution to NAIC products for Oyi and Ayamelum LGAs. Ayamelum co-operators contributed more to NAIC products than Oyi co-operators with an average contribution, difference of N5,727,550. It is suggested that governments should make effort to adequately fund the financial intermediaries through which credits associated with NAIC insurance cover are provided so as to make the distribution system efficient. Premium paid by Nigerian farmers at 50% for an insurance cover should be reduced to 25% by the federal and state governments to encourage and boost food security in Nigeria.
Keywords: Agriculture Insurance, Farmers, Food Security, Sum Insured