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The Role Of Microfinance Bank Credit On Agricultural Development In Nigeria: (1980-2010)
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1.2 STATEMENT OF RESEARCH PROBLEM
According to Anyanwu etal (1997:14)
“the agricultural sector has been recognized for a long time as an
important sector to Nigeria economy and development is one of the
crucial requirements for the overall economic growth.
He noted
further that the declined in agricultural activities might appear
natural in any development process, it is obvious that in Nigeria
agricultural activities would remain the most important single sector
for some time to come. He emphasized that in the past, development
planners have introduce programs such as national accelerated food
production project (NATPP), green revolution programs (GRP), In search
for all appropriate technique in order to increase farm output and
productivity and such program have at one time been implemented.
Based
on these, a number of problems one facing the agricultural sector and
they are as following. Inadequate finance or credit facilities,
inadequate farms input, lack of storage facilities, lack of basic
amenities, Lack of technical know-how, lack of research and illiteracy
of the farmers.
The questions to which this research will provide
answers to one, is the credit advanced to farmers through microfinance
adequate to have a significant impact on agriculture? All these problems
can be solved or rather reduce when there is adequate financing.
1.3 RESEARCH QUESTIONS
This
study revolved around the answering of the following research question.
What extent does microfinance loans influences the agricultural output
in Nigeria economy?
What policy actions can be implemented to boost the agricultural productivity in Nigeria through microfinance?
1.4 OBJECTIVES OF THE STUDY
In
this study therefore, the researcher hope to accomplish the following
objectives: To determine how microfinance loans/credit granted to the
farmers can influences the agricultural output in Nigeria economy. To
determine policy actions in which agricultural output can be improved
through microfinance bank credit.
1.5 HYPOTHESIS OF THE STUDY Microfinance banks loans have no significant impact on agricultural development in Nigeria.
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ABSRACT - [ Total Page(s): 1 ]This research work tries to investigate the role of microfinance bank on agricultural development in Nigeria using Nigeria as a case study. Using ordinary least square method, data collected were secondary data and the durbin-watson t-statistics were used in the regression analysis. The study shows that Microfinance bank loans have a positive impact on agricultural development in Nigeria. Based on these findings some recommendations were made, interest rate should be reduce to encourage farmers ... Continue reading---
