ASSESSMENT OF AGRICULTURAL CREDIT DELIVERY SYSTEM IN IJAGBO, OYUN LOCAL GOVERNMENT AREA OF KWARA STATE.
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ASSESSMENT OF AGRICULTURAL CREDIT
DELIVERY SYSTEM IN IJAGBO, OYUN LOCAL
GOVERNMENT AREA OF KWARA STATE.
BY
IBIDOKUN ADEOLU JAMES
2004118025AE
DEPARTMENT OF AGRICULTURAL ECONOMICS AND
EXTENSION TECHNOLOGY
SCHOOL OF AGRICULTURE AND AGRICULTURAL
TECHNOLOGY
FEDERAL UNIVERSITY OF TECHNOLOGY
MINNA.
NIGER STATE.
FEBRUARY, 2010.ASSESSMENT OF AGRICULTURAL CREDIT
DELIVERY SYSTEM IN IJAGBO, OYUN LOCAL
GOVERNMENT AREA OF KWARA STATE.
BY
IBIDOKUN ADEOLU JAMES
2004118025AE
A PROJECT SUBMITTED TO THE DEPARTMENT OF
AGRICULTURAL ECONOMICS AND EXTENSION
TECHNOLOGY
IN PARTIAL FULFILLMENT OF THE AWARD OF
BACHELOR DEGREE IN AGRICULTURAL
TECHNOLOGY (B.TECH. AGRIC).
SCHOOL OF AGRICULTURE AND AGRICULTURAL
TECHNOLOGY
FEDERAL UNIVERSITY OF TECHNOLOGY
MINNA.
NIGER STATE.
FEBRUARY, 2010.
11CERTIFICATION
This project is the original work approved, supervised and carried out by
1 IBIDOKUN ADEOLU JAMES with the Matric. Number 2004118025AE in
partial fulfilment of the requirements for the award of Bachelor of
Technology (B. Tech.) Degree in Agriculture.
Mr. I.S Umar
(Project supervisor)
Dr. J.N. Nmadu
(Head of Department) Signature and Date
Prof. S. A. Rahman
(External Examiner) Signature and Date.
IIIDEDICATION
This project is dedicated to the Almighty God for giving me the privileged to
be alive today and also to my beloved parents Chief and Mrs. J .B Ibidokun,
My elder brothers Akinola, Adekunle, Adebayo and also to my younger
sister Oluwatosin for their support and assistance. May the great God in His
mercy continue to bless you all abundantly, Amen.
IVDECLARATION
I,ffiIDOKUN ADEOLU JAMES with the Matriculation Number
2004118025AE in the Department of Agricultural Economics and Extension
Technology hereby declare that the contents of this project reflect the
research work duty conducted by me.
Candidate's Name & Signature & Date.
Matric Number
vACKNOWLEDGEMENTS
I whole heartedly express my profound gratitude and appreciation to
Almighty God the owner and the finisher of the whole earth for His
immense blessing, love, grace, protection, favour, care and infinite mercies
over me throughout the time of my study. Providing for my sustenance
through various means and for giving me the courage to press on despite all
the ups and downs.
I am most indebted and grateful to my diligent and corporative supervisor
Mr I.S Umar who in his word at the beginning of this research was "Work
hard and know what you are doing" saw me throughout my research work. I
sincerely thank you for the guidance, constructive criticism and his total
devotion and prayers to ensures the successful completion of the research.
My profound gratitude goes to Mr. D. Ajayi for his advise to me all the time
and love in everything I do.
I also appreciate God for the life of my lecturers Dr. T. Likita, Dr. R.S
Olaleye, Dr. A.T. Ijaiya, Mr Tyabo, Mr Ndanitsa and all others in the
department of agricultural economics and extension technology, in F.U.T.
Minna.
My deepest love and special appreciation goes to my parents Chief and Mrs
J.B Ibidokun for always being there for me in all I need especially during my
course of study. Thanks for your encouragement and prayer at all time
mostly in time of difficulties.
I also acknowledge my brothers and sisters
Akinola,Adekunle,Adebayo,Oluwatosin,Bukola,Oluranti,Omolayo,Isaiah for
your love and support. Also, my special gratitude goes to the family of Mr &
Mrs Sunday Akande, Prof and Mrs Oladimeji, Pastor& Mrs Joshua, Dr &
viMrs F.S Gan:a, Mrs. Oni and Mrs. Bukola Oyekola for their hospitality and
care during my study.
I will also appreciate my friends for their love and support giving to me at
the course of my study such as: Adeola, Wemimo, Olubusayo, Atinuke
Gbenga, Abidemi, Olaide, Yetunde Nathaniel, Tosin, Tope Aisha, Kemi
Toyosi, Adetutu and others.Also to my roommate in FUT minna for thei~
contributions and for making my stay in FUT a memorable and worthwhile,
your friendship are cherished till the end of time; Looking forward to
meeting you all in future when all dreams are realized.
Finally, my gratitude goes to my uncles, Aunts, Cousins and spiritual;
leaders and friends, you all occupy a special place in my heart. I will
remember and appreciate you all with a spiritual and prayerful concern.
I pray that my great good God will never leave you nor forsake you in all
your Endeavour. Thanks so much and God bless you all.
viiTABLE OF CONTENTS
Cover Page
.
I
Title Page 11
Certification 111
Dedication
.
IV
Declaration V
Acknowledgement VI-VB
...
Table of content V111-X
List of table Xl
Abstract X11
CHAPTER ONE
1.0 Introduction 1
1.1 Background Information 1-3
1.2 Problem Statement 3-4
1.3 Objectives of the Study 4
1.4 Hypothesis 5
1.5 Justification 5
CHAPTER TWO
2.0 Literature Review 6
2. 1Agricultural Credit in Nigeria 6
2.2 Agricultural Credit Definition 6-7
2.3 Sources of Agricultural Credit in Nigeria 8
2.4 Roles of Credit in Agricultural Development 9-12
2.5 Specialized Agricultural Credit Institution in Nigeria 12-13
Vlll2.6.1 Funding of ACGSF 14
2.6.2 Management of the Funds 14
2.6.3 Problem Militating Against the Effective Use of ACGSF 14-15
2.7 Problem of Credit Acquisition by Farmers 15-17
2.8 Constrains of Credit Delivery to Farmers 17
2.9 Credit Repayment Performance of Farmers under the ACGSF 17-18
2.10 Factors Affecting Agricultural Credit Repayment 18-19
CHAPTER THREE.
3.0 Methodology 20
3.1 Brief Introduction 20
3.2 Area of Study 20-21
3.3 Sampling Techniques 21
3.4 Sampling Procedures 21
3.5 Data Collection Procedures 22
3.6 Information Required 22
3.7 Measurement of Variables 22-23
3.8 Methods of Data analysis 23-24
CHAPTER FOUR.
4.0 Result and Discussion 25
4.1 Socio-economic Profile of Respondents 25
4.1.1 Sex of the Respondents 25-26
4.1.2 Marital Status of Respondents 26
4.1.3 Age Distribution of Respondents 26-27
4.1.4 House-hold Size of Respondents 27-28
4.1.5 Educational Level of Respondents 28-30
4.1.6 Farming Experience of Respondents 30-31
ix4.1.7 Membership of Cooperative Society 31
4.2 Financing of Farming Activities 32
4.2.1 Credit Utilization by Respondents 32
4.2.2 Sources of Credit Used by Respondents 32-33
4.2.3 Reasons for Credit 34-35
4.2.4 Amount of Credit Received by Respondents 35-36
4.25 Collateral Used for the Credit 36-37
4.2.6 Land Acquisition Means by Respondents 38-39
4.3 Challenges Facing Credit Delivery System 39
4.3.1 Problems Faced in Securing Credit 39-40
4.4 Farmers' Perception towards Credit 40-42
4.5 Sample Test of Respondents 42
·4.6 Hypothesis Testing 42-43
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendations 44
5.1 Summary 44-45
5.2 Conclusion 45
5.3 Recommendations 46
References 47-49
x)
1
I
I
I LIST OF TABLES
1
i
m
Table 1: Distribution of respondents selection 21
Table 2: Distribution of respondents according to sex 25
1
I Table 3: Distribution of respondents according to marital status 26
1 Table 4: Age distribution of respondents 27
I Table 5: Percentage distribution of respondents according to
House~hold size 28
Table 6: Percentage distribution of respondents according to
Educational status 29
Table 7: Distribution of respondents according to farming experience 30
Table 8 : Distribution of respondents according to member of
Cooperative society 31
Table 9: Percentage distribution of credit source used 33
Table J0: Percentage distribution of fanners based on their
Reasons for credit 34
Table II: Percentage distribution or amount received 35
Table 12: Percentage distribution or collateral used 37
Table 13: Distribution of farmers according to land acquisition 38
Table 14: Distribution of challenges faced in securing credit 39
Table 15: Distribution or farmers perception towards credit 41
Table 16: Pair sample test of respondents 42
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