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Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria

Author

Listed:
  • Asenath Kotugan Fada Silong
  • Yiorgos Gadanakis

Abstract

Purpose - Rural farmers’ access to farm credit in Nigeria has been very low, which affects farm performance, and credit providers have blamed for the problem in the sector. While this general perception persists the fact may be the case of credit demand, rather than just the risk-averse attitudes of credit providers. The purpose of this paper is to investigate significant factors influencing farmers’ credit demand to ensure efficient credit provision. Design/methodology/approach - The research adopted mixed methods for an in-depth investigation into the problem. There were 216 research participants split into equal halves of men and women from six local government areas of Nasarawa State. Data collection methods employed structured interviews, focus group discussions, close/open-ended and key informant interviews. Analytical tools involved descriptive statistics, the logit and multinomial logit models to determine participants’ socio-economic characteristics, sources of credit, access, factors influencing credit demand generally and from the various sources of credit identified. Findings - Findings reveal only 47.6 per cent of the participants accessed credit, with fewer women accessing than men. The most accessed forms of credit are from the semi-formal sources, with more men accessing from formal sources and more women from non-formal sources. Factors having significant influence on credit demand generally are education, group membership and household size. And from formal, semi-formal and non-formal credit sources are education, information on sources of credit, deposits, household size and marital status; education, deposits, group membership, household size, flock size; and education, group membership, and gender from the non-formal credit providers, respectively. Research limitations/implications - Due to time constraint, this study data were collected concurrently with both quantitative and qualitative methods and did not allow for the interrogation of findings from one method with the other. In addition, the research categorised the agency of women based on marital status only as single or married and did not interrogate the agency of women further, this may be a limitation as some of the female participants are from polygamous homes. Originality/value - Unlike the current concentration of Nigerian research of this kind with quantitative methods alone, this research contributes particularly to Nigerian research output and experience by triangulating both quantitative and qualitative methods to explore farmers sources of credit, access and factors determining access to credit in the study area.

Suggested Citation

  • Asenath Kotugan Fada Silong & Yiorgos Gadanakis, 2019. "Credit sources, access and factors influencing credit demand among rural livestock farmers in Nigeria," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 80(1), pages 68-90, October.
  • Handle: RePEc:eme:afrpps:afr-10-2018-0090
    DOI: 10.1108/AFR-10-2018-0090
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    Citations

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    Cited by:

    1. Rodney Akpoviri Isiorhovoja & Solomon Okeoghene Ebewore & Salome Nwachi, 2020. "Farmers` attitude and behavior toward savings in Ika south local government area of delta state, Nigeria," Asian Journal of Agriculture and rural Development, Asian Economic and Social Society, vol. 10(1), pages 406-419, June.
    2. Francis William Mmari & Saganga Mussa Kapaya, 2022. "Financial service access and agriculture commercialization of smallholder rice growers in Kilombero District: The moderating role of institutional cultural cognitive," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(8), pages 409-418, November.
    3. Kara, Alper & Zhou, Haoyong & Zhou, Yifan, 2021. "Achieving the United Nations' sustainable development goals through financial inclusion: A systematic literature review of access to finance across the globe," International Review of Financial Analysis, Elsevier, vol. 77(C).
    4. Tim Ölkers & Oliver Mußhoff, 2024. "Exploring the role of interest rates, macroeconomic environment, agricultural cycle, and gender on loan demand in the agricultural sector: Evidence from Mali," Agribusiness, John Wiley & Sons, Ltd., vol. 40(2), pages 484-512, April.

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