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Assessment of Farm Financial Literacy Levels among Poultry Farmers in Anambra State, Nigeria

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  • Ugwuja, V.C
  • Onwuachu, O.E.

Abstract

The study examined the farm financial literacy levels of poultry farmers in Idemili South Local Government Area of Anambra State in Nigeria. It specifically described the socio-economic characteristics of poultry farmers, assessed the level of financial literacy among poultry farmers, and analyzed the factors influencing the level of financial literacy among the poultry farmers. Data were collected with the aid of structured questionnaire and oral interview method from a total of 80 respondents. Data analyses were done using descriptive statistics and regression analysis. From the analysis the study showed that 48.8% of the respondents were males and 51.2% were females, all in the age ranges of 20 to 77 with a mean age of 43 years. The proportion married was 71.2% and 45% had secondary education. Only 43.4% of the farmers were involved in farm financial planning, while 46.1% had adequate financial knowledge in farm management. The regression results showed that the socio-economic factors influencing the level of financial literacy among poultry were gender, age, education and frequency of bank visits.The study therefore recommends that the financial institutions should increase the level of awareness on their financial products through television, social media and radio stations. Financial literacy should be included in both primary and secondary education curricular; and should be part of agricultural extension teaching programmes to be used in reaching out to the rural farmers.

Suggested Citation

  • Ugwuja, V.C & Onwuachu, O.E., 2020. "Assessment of Farm Financial Literacy Levels among Poultry Farmers in Anambra State, Nigeria," Nigerian Agricultural Policy Research Journal (NAPReJ), Agricultural Policy Research Network (APRNet), vol. 7(1), May.
    • Handle: RePEc:ags:naprej:314138
    DOI: 10.22004/ag.econ.314138
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    References listed on IDEAS

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    1. Sondra G. Beverly & Marianne A. Hilgert & Jeanne M. Hogarth, 2003. "Household financial management: the connection between knowledge and behavior," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jul, pages 309-322.
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