DETERMINANTS OF NACRDB CREDIT ACQUISITION, UTILIZATION AND REPAYMENT AMONG FARMERS IN OGUN STATE, NIGERIA
2007
Otunaiya, A.O. | Bamiro, O. M. | Idowu, A. O.
This study examined the determinants of NACRDB loan acquisition, utilization, and repayment by farmers in Yewa division of Ogun state. Primary data collected through scheduled interview with the help of a structured questionnaire as well as secondary data were used for this purpose. Descriptive analytical tools, linear discriminant function, and multiple regression analysis were used to analyze the data collected. Results show that majority of the respondents attributed reasons for zero or partial repayment of loan to production failure due to weather, pests and diseases and poor storage (72.5%), Furthermore, the results show that the largest proportion of the loan defaulters (52.5%) use their last credit obtained for the stated reason (farming). Discriminant analysis conducted shows that the total annual income of the household head, other occupation of the respondents and membership of cooperative society are the most significant variables that discriminate between rural bank users and non-users. The regression analysis shows that the most important variable is farm size (hectares) accounting for 32% of the variations in repayment level of the credit user, while the next to it was farm income. It was suggested that NACRDB loans should be disbursed through farmers cooperative society, with adequate monitoring and supervision.
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