An Analysis of Credit Utilization and Farm Income of Arable Crop Farmers in Kwara State, Nigeria

An Analysis of Credit Utilization and Farm Income of Arable Crop Farmers in Kwara State, Nigeria

Agbede C O

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S U Isitor

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D A Babalola

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K S Obaniyi

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Babcock University

An Analysis of Credit Utilization and Farm Income of Arable Crop Farmers in Kwara State, Nigeria

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Abstract

This article assessed credit utilization among arable farmers in Kwara state, Nigeria and its influence on farm income. The data analyzed were collected from 100 farmers purposively sampled. Despite an average of 11years experience, 47% of the farmers have not benefited from agricultural credit. Average income per hectare for farmers who were able to access funds for their farm business was higher (N52,000/$325) than for those who did not (N35,430/$221) however, average loan granted (N55,550/$347)was lower than applied for (N77,900/$486). Lack of collateral was a major limitation for sourcing for credit. Factors determining farmers’ decision to use credit included household size, use of hired labour, cooperatives participation, awareness of credit sources, past loan size, possession of collateral and proximity to the credit lending institution. Policies and programmes directed at enhancing these factors will increase farmers’ decision to use agricultural credit.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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How to Cite This Article

Agbede C O. 2015. \u201cAn Analysis of Credit Utilization and Farm Income of Arable Crop Farmers in Kwara State, Nigeria\u201d. Global Journal of Science Frontier Research - D: Agriculture & Veterinary GJSFR-D Volume 14 (GJSFR Volume 14 Issue D10).

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GJSFR Volume 14 Issue D10

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

collateral credit utilization farm income kwara Nigeria poultry

Submission ReceivedOctober 31, 2014
Peer Review Double Blind
Handling Editor
Accepted November 27, 2014
Published December 8, 2014

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January 14, 2015

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Article Matrices

Total Score: 103

Country: Nigeria

Subject: Global Journal of Science Frontier Research - D: Agriculture & Veterinary

Authors: S U Isitor, D A Babalola, K S Obaniyi (PhD/Dr. count: 0)

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