Assessment of Crowdfarming Diversity in Lagos State Using Shannon’s Entropy Index

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Olowa Olatomide Waheed
Olowa Olatomide Waheed
2
Olowa Omowumi Ayodele
Olowa Omowumi Ayodele

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GJMBR Volume 22 Issue B3

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The global growth rate of equity crowdfunding of which Crowdfarming is a brand has surpassed the projected limits. Crowdfarming serves as alternative finance and platform for interested small scale investors in farming in many countries. This Paper investigates the diversity of crowdfarming platforms among investors in all the five administrative divisions of Lagos state. Three hundred participants were selected using purposive sampling techniques and used for the study. The data were summarized using frequencies and percentages, while Shannon Entropy Index was applied to analyse the diversity of crowdfarming among participants in the administrative divisions. The results showed majority of the participants were male (59%) with average family size of all crowdfarming participants being 5.83. Average household size was highest in Lagos Island (Eko) (7) and Epe (7) and lowest in Ikeja (4). Younger respondents (22-55 years) constitute the majority of crowdfarming participants (72%). Average total amount invested was #566,634; highest in Ikeja (#230,000) and lowest in Epe (#95,155).

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Not applicable for this article.

Olowa Olatomide Waheed. 2026. \u201cAssessment of Crowdfarming Diversity in Lagos State Using Shannon’s Entropy Index\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 22 (GJMBR Volume 22 Issue B3): .

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Crowdsourcing in Lagos State.
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GJMBR Volume 22 Issue B3
Pg. 15- 20
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-B Classification: DDC Code: 658.15224 LCC Code: HG4751
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July 12, 2022

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English

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The global growth rate of equity crowdfunding of which Crowdfarming is a brand has surpassed the projected limits. Crowdfarming serves as alternative finance and platform for interested small scale investors in farming in many countries. This Paper investigates the diversity of crowdfarming platforms among investors in all the five administrative divisions of Lagos state. Three hundred participants were selected using purposive sampling techniques and used for the study. The data were summarized using frequencies and percentages, while Shannon Entropy Index was applied to analyse the diversity of crowdfarming among participants in the administrative divisions. The results showed majority of the participants were male (59%) with average family size of all crowdfarming participants being 5.83. Average household size was highest in Lagos Island (Eko) (7) and Epe (7) and lowest in Ikeja (4). Younger respondents (22-55 years) constitute the majority of crowdfarming participants (72%). Average total amount invested was #566,634; highest in Ikeja (#230,000) and lowest in Epe (#95,155).

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Assessment of Crowdfarming Diversity in Lagos State Using Shannon’s Entropy Index

Olowa Olatomide Waheed
Olowa Olatomide Waheed
Olowa Omowumi Ayodele
Olowa Omowumi Ayodele

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