ABSTRACT
The study examines the
determinants of credit demand among rural farmers in Ikot Abasi Local
Government Area, Akwa Ibom State. The specific objectives were to determine the
socio-economic characteristics of small holder farmers, identify the various
types of credit engaged by farmers, identify the sources of credit available to
farmers, identify factors that determine credit demand among rural farmers,
identify the problems farmers encounter in credit acquisition. A random sample
of 40 farmers was chosen from the area of study. Questionnaires were used for
data collection. Data analysis was done using mean, frequency distribution, percentages
and regression analysis. The study shows that farmers in the study area were
relatively young, energetic and literate. Farm sizes were small with mean of
0.6 hectare while household size was large. The farmers have low level of farm
income and are experienced in farming indicating that they are likely to demand
for credit. And their major sources of credit are the informal credit
institutions. Farm income (5.070***), cost of input (2.337**) and farm
experience (1.345*) were significant factors at 1%, 5% and 10% respectively
that determine farmers' demand for credit. Among the problems encountered by
farmers in credit acquisition were high interest rate, other lending policies
and provision of collateral. Since farmers are making increasing use of purchased
inputs and thereby incurring higher operating experiences policies that ensures
reduction in the cost of inputs should he provided and implemented.
UDO, E (2021). Determinants Of Credit Demand By Rural Farmers In Ikot Abasi L.G.A Of Akwa Ibom State. Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/determinants-of-credit-demand-by-rural-farmers-in-ikot-abasi-lga-of-akwa-ibom-state-7-2
ENO, UDO. "Determinants Of Credit Demand By Rural Farmers In Ikot Abasi L.G.A Of Akwa Ibom State" Mouau.afribary.org. Mouau.afribary.org, 01 Jul. 2021, https://repository.mouau.edu.ng/work/view/determinants-of-credit-demand-by-rural-farmers-in-ikot-abasi-lga-of-akwa-ibom-state-7-2. Accessed 24 Nov. 2024.
ENO, UDO. "Determinants Of Credit Demand By Rural Farmers In Ikot Abasi L.G.A Of Akwa Ibom State". Mouau.afribary.org, Mouau.afribary.org, 01 Jul. 2021. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/determinants-of-credit-demand-by-rural-farmers-in-ikot-abasi-lga-of-akwa-ibom-state-7-2 >.
ENO, UDO. "Determinants Of Credit Demand By Rural Farmers In Ikot Abasi L.G.A Of Akwa Ibom State" Mouau.afribary.org (2021). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/determinants-of-credit-demand-by-rural-farmers-in-ikot-abasi-lga-of-akwa-ibom-state-7-2