Determinants of Access to Credit among Rural Farmers in Oyo State, Nigeria

Sunday Ololade

Determinants of Access to Credit among Rural Farmers in Oyo State, Nigeria

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Sunday Ololade

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Ladoke Akintola University of Technology, Ogbomoso, ...

Determinants of Access to Credit among Rural Farmers in Oyo State, Nigeria

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Abstract

This study examined the determinants of credit access by rural farmers in Oyo state Nigeria. Specifically the study identified the socio-economic characteristics of the rural farmers, examined the factors affecting access to credit by the rural farmers, identified constraints faced by rural farmers in credit acquisition. Data were collected with the aid of structured questionnaires, administered on 210 respondents using multistage sampling procedure. The data were analyzed with the use of descriptive statistics and logit model. The sigma values of the binomial (σ 2 = 90.32) logit model that measured the significance of model showed that the data fit the model reasonably well. The binomial logit model revealed that significant relationships existed between sex (-2.0187), marital status (-1.9786), lack of guarantor (2.1517), high interest rate (6.8263) and access to credit. The variables were significant at 10%. It is concluded that there is need for financial institutions to help look into the conditions for obtaining credit by farmers, so that the less privilege among them will be able to benefit from credit disbursement especially in the aspect of high interest rate, guarantor and collateral security.

References

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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.

Data Availability

Not applicable for this article.

How to Cite This Article

suntolgroup, Sunday Ololade. . "Determinants of Access to Credit among Rural Farmers in Oyo State, Nigeria". Global Journal of Science Frontier Research - D: Agriculture & Veterinary GJSFR-D Volume 13 (GJSFR Volume 13 Issue D2).

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GJSFR Volume 13 Issue D2

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

credit farmers logit Rural socio-economics

Classification

GJSFR-D Classification FOR Code: 070199

Submission ReceivedJanuary 28, 2013
Peer Review Double Blind
Handling Editor
Accepted February 21, 2013
Published March 8, 2013

Version of record

v1.2

Language

English

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Article Matrices

Total Score: 151

Country: Nigeria

Subject: Global Journal of Science Frontier Research

Authors: Dr. Ololade R.A., Olagunju F.I. (PhD/Dr. count: 1)

View Count (all-time): 263

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Publish Date: 2013 03, Fri

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Total Views: 5.9K

Total Downloads: 393

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