Analysis Of Factors Influencing Loan Default In Formal Loan Repayment Among Farmers In Umuauia Agricultural Zone, Aria State.
ABSTRACT
Nigeria agricultural sector has once served as the mainstay
of the nation's economy, with substantial income from cocoa, groundnut, palm
produce, hide and skin, and other agricultural produce (Eni, 2006). Thus,
adopting new technology by farmers is olten considerable opportunhly to
increase production and farm income since returns to investment; savings are usually
low in small holder agriculture (Olubiyo and Hill 2005). They also noted that
this potential can only be realized if farmers can gain access to funds to
finance the additional input that are invariably required. Moreover the obvious
solution is for farmers to borrow against the mnroved returns they expect to
achieve by adopting improved technologies. They also explained that in
agricultural sector, the role of small and medium scale enterprises in
employment generation, skill acquisition, output growth, and enhancement of
local technology and the mitigation of rural — urban drift cannot be
overemphasized. It is in recognition of this important role of credit that both
federal and various state governments have intensified efforts to increase the
flow of credit to the agricultural sector (Oni et al., 2005)
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MUOKA, O (2021). Analysis Of Factors Influencing Loan Default In Formal Loan Repayment Among Farmers In Umuauia Agricultural Zone, Aria State.. Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/analysis-of-factors-influencing-loan-default-in-formal-loan-repayment-among-farmers-in-umuauia-agricultural-zone-aria-state-7-2
O, MUOKA. "Analysis Of Factors Influencing Loan Default In Formal Loan Repayment Among Farmers In Umuauia Agricultural Zone, Aria State." Mouau.afribary.org. Mouau.afribary.org, 12 Oct. 2021, https://repository.mouau.edu.ng/work/view/analysis-of-factors-influencing-loan-default-in-formal-loan-repayment-among-farmers-in-umuauia-agricultural-zone-aria-state-7-2. Accessed 24 Nov. 2024.
O, MUOKA. "Analysis Of Factors Influencing Loan Default In Formal Loan Repayment Among Farmers In Umuauia Agricultural Zone, Aria State.". Mouau.afribary.org, Mouau.afribary.org, 12 Oct. 2021. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/analysis-of-factors-influencing-loan-default-in-formal-loan-repayment-among-farmers-in-umuauia-agricultural-zone-aria-state-7-2 >.
O, MUOKA. "Analysis Of Factors Influencing Loan Default In Formal Loan Repayment Among Farmers In Umuauia Agricultural Zone, Aria State." Mouau.afribary.org (2021). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/analysis-of-factors-influencing-loan-default-in-formal-loan-repayment-among-farmers-in-umuauia-agricultural-zone-aria-state-7-2