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The Role Of Financial Institutions In Agricultural Development (1990-2010)
[A CASE STUDY OF NIGERIA AGRICULTURAL COOPERATIVE AND RURAL DEVELOPMENT BANK]
CHAPTER ONE -- [Total Page(s) 4]
Page 4 of 4
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DEFINITION OF TERMS.
i.
AGRICULTURE: This can be defined as the growing of crops and rearing of
animals for human consumption. Agriculture involves live stock,
forestry, wide life and fisheries as well as the production of crops
like cocoa, palm product, groundnut, cotton and rubber. Historically,
the Nigerian agriculture can be categorized into three. They are
 The subsistence type.
 The diversified type.
 The plantation type.
The subsistence type is the production type done mainly for human consumption with little or no surface.
The diversified type is the production type that is done beyond individual consumption or domestic level.
The
plantation type although have not made any impact in the Nigeria
agriculture, it accounts for a small amount of total Nigeria
agricultural output. It involves the use of improved modern techniques
and it is run in the state by their development cooperation.
ii.
AGRICULTURAL SECTOR: The agricultural sector is one of the sectors of
Nigeria economy... it is the sector responsible for the provision of
food supply and raw materials for domestic and foreign industries.
iii.
FINANCIAL INSTITUTION: These are organization owned either by
individual, group or persons, state or country as a whole. Financial
institutions are established mainly for saving money (deposit) for their
customers and providing for such deposit and when needed and also the
granting of credit facilities to their customers based on the credit
worthiness of such customers.
iv. NIGERIA AGRICULTURAL CO OPERATIVE
AND RURAL DEVELOPMENT BANK (NACRDB): It is a body charged with the duty
of granting credit facilities to individual farmers as well as the group
farmers for the purpose of fueling their farming activities. It was
previously known as Nigeria agricultural cooperative bank (NACB) and
became Nigeria agricultural cooperative and rural development bank
(NACRDB) after merging with the defunct people’s bank of Nigeria and
family economic advancement program.
CHAPTER ONE -- [Total Page(s) 4]
Page 4 of 4
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ABSRACT - [ Total Page(s): 1 ]This study examined the role of financial institutions in agricultural development. A case study of Nigeria Agricultural Cooperative and Rural Development Bank, with a view to make useful suggestions and recommendations as way of enhancing the development of agricultural sector. The population for the study includes large and small scale farmers and the sampling method adopted for the study is the stratified random sampling in order to ensure adequate representation of the population. In order t ... Continue reading---
