Risk Preferences and Coping Strategies among Poultry Farmers in Abeokuta Metropolis, Nigeria

Babalola D. Akinola

Risk Preferences and Coping Strategies among Poultry Farmers in Abeokuta Metropolis, Nigeria

Babalola D. Akinola * §

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§ Babcock University

Risk Preferences and Coping Strategies among Poultry Farmers in Abeokuta Metropolis, Nigeria

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Abstract

The study analyzed the risk preferences and coping strategies among poultry farmers in Abeokuta, Nigeria. The multistage sampling technique was used to select 70 poultry farmers for the study. Data obtained were analyzed using descriptive statistics, risk behavioural and multiple regression models. Results showed that 64% of the farmers had tertiary education, 81% had previous risk experience, 76% earned above N100,000 ($ 625) monthly. Major sources of risk included market and production risks. Common risk coping strategies included increasing staff working hours and diversification of enterprise. Some 53% of the farmers are risk seekers. Factors which positively and significantly (p≤0.05) determine risk preference included age, educational level, household size, cooperatives participation, credit access and income level. It is recommended that government efforts should be directed towards reducing production and market risks; enhancing farmers’ participation in cooperatives and facilitating access to agricultural credit facilities to indirectly insure farms against risks.

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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

Babalola D. Akinola. 2014. "Risk Preferences and Coping Strategies among Poultry Farmers in Abeokuta Metropolis, Nigeria". Global Journal of Science Frontier Research - D: Agriculture & Veterinary GJSFR-D Volume 14 (GJSFR Volume 14 Issue D5).

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GJSFR Volume 14 Issue D5

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

Abeokuta coping strategies Nigeria poultry risk behavioural models risk preference

Classification

GJSFR-D Classification FOR Code: 630106

070799p

Submission ReceivedMay 24, 2014
Peer Review Double Blind
Handling Editor
Accepted June 14, 2014
Published June 24, 2014

Version of record

v1.2

Issue date

July 26, 2014

Language

English

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Total Score: 145

Country: Nigeria

Subject: Global Journal of Science Frontier Research

Authors: Babalola D. Akinola (PhD/Dr. count: 0)

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