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Impact Of Loan Acquisition On Agriculture
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1.2 OBJECTIVES OF THE STUDY
The general objective of
the study is to ascertain the impact of loan acquisition on agriculture
(crop production) in Rivers state (Khana L.G.A). However, in order to
achieve these principal objectives, the specific objectives are to:
Identify the socio-economic characteristics of the farmers.
Problems faced by farmers in acquiring loans
Assess repayment performance of the farmer.
Determine those factors affecting farmers’ repayment capacity.
Compare the productivity of beneficiaries and non beneficiaries of loan.
1.4 JUSTIFICATION OF THE STUDY
The
inability to payback agricultural loans has become a major source of
concern towards sustainable financing of agricultural activities (Okon
and Nyienakuna, 2000). This study considers it expedient to find out
significant determinants that can be used as elements for reduction of
low impact of loan acquisition among rural and peri-urban farmers by
finance experts and will reveal a lot of knowledge on the circumstances
surrounding loan acquisition by farmers.
1.5 DEFINITION OF TERMS
AGRIC LOAN: This refers to the amount of money collected from any sources for agricultural purposes.
REPAYMENT
PERFORMANCE: This refers to a proportion of loan that a beneficiary was
able to repay at the end of the loan repayment duration. Since the
source of loans were from different sectors i.e. private but informal,
public but formal and informal sector, with short repayment duration.
AGRIC
PRODUCTION: refers to the level of technical efficiency index of a
farmer based on the transformation of four primary input (labour
(manday), land (hectare), seeding (kg) and fertilizer (kg) to output
(kg)) in the course of utilization of the loan for agric production.)
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