IDEAS home Printed from https://ideas.repec.org/a/vrs/ecocul/v17y2020i2p75-87n8.html
   My bibliography  Save this article

Access to Finance, Indigenous Technology and Food Security in Nigeria: Case Study of Ondo Central Senatorial District

Author

Listed:
  • Sharimakin Akinwumi

    (Department of Economics, Adeyemi College of Education, Ondo, Ondo State, Nigeria)

  • Dada James Temitope

    (Department of Economics, Obafemi Awolowo University, Ile-Ife, Nigeria)

Abstract

Research purpose: Food security remains a major component of economic development. Many developing nations are facing challenges of food insecurity, which had contributed to starvation and other societal problems. With adequate food intake, human healthy living is assured. This study investigates the impact of access to formal finance and indigenous technology and knowledge on food security in Ondo central senatorial district in Ondo state, Nigeria.Methodology: In total, 216 farmers were sampled, and data were collected through a well-structured questionnaire and focus interviews. Data collected were analysed using descriptive statistics and logit estimation technique.Findings: Descriptive statistics show that there are more male farmers (61.1%) than female counterparts (38.9%), with most of the farmers (42.7%) in their ages 56 years and above and with 51.9% having primary education. Majority of the farmers (65.7%) engage in arable crop farming, while 15.2 and 19.1% engage in cash crop and livestock farming, respectively. The econometric model reveals that age, income, gender, education, marital status, religion, family size, assets owned and distance are major determinants of a farmer’s decision on account ownership, savings and borrowing. Indigenous knowledge of soil fertility, disease-resistant and quickly-growing crops, food storage, local weather, water management, pest and diseases control are significant determinants of food security in Ondo central senatorial district. Likewise, account ownership, savings and borrowing from formal financial institutions are significant determinants of food security.Practical implications: It is, therefore, important that efforts to ease access to formal financial services and improve indigenous technology to serve as complement to modern farming techniques to achieve food security be made a priority by government and private institutions.

Suggested Citation

  • Sharimakin Akinwumi & Dada James Temitope, 2020. "Access to Finance, Indigenous Technology and Food Security in Nigeria: Case Study of Ondo Central Senatorial District," Economics and Culture, Sciendo, vol. 17(2), pages 75-87, December.
  • Handle: RePEc:vrs:ecocul:v:17:y:2020:i:2:p:75-87:n:8
    DOI: 10.2478/jec-2020-0022
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/jec-2020-0022
    Download Restriction: no

    File URL: https://libkey.io/10.2478/jec-2020-0022?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Leonard Onyiriuba & E.U. Okoro Okoro & Godwin Imo Ibe, 2020. "Strategic government policies on agricultural financing in African emerging markets," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 80(4), pages 563-588, April.
    2. P. Kristjanson & I. Okike & S. Tarawali & B. B. Singh & V. M. Manyong, 2005. "Farmers' perceptions of benefits and factors affecting the adoption of improved dual‐purpose cowpea in the dry savannas of Nigeria," Agricultural Economics, International Association of Agricultural Economists, vol. 32(2), pages 195-210, March.
    3. Temitope DADA, James & FANOWOPO, Oyinkansola, 2020. "Economic Growth And Poverty Reduction In Nigeria: The Role Of Institutions," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 7(7), pages 1-15, June.
    4. Jera, R. & Ajayi, Olu Clifford, 2008. "Logistic modelling of smallholder livestock farmers’ adoption of tree-based fodder technology in Zimbabwe," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 47(3), pages 1-14, September.
    5. Yunhee Chang & Swarn Chatterjee & Jinhee Kim, 2014. "Household Finance and Food Insecurity," Journal of Family and Economic Issues, Springer, vol. 35(4), pages 499-515, December.
    6. Susan Johnson & Max Nino-Zarazua, 2011. "Financial Access and Exclusion in Kenya and Uganda," Journal of Development Studies, Taylor & Francis Journals, vol. 47(3), pages 475-496.
    7. Audil Rashid Khaki & Mohi-ud-Din Sangmi, 2017. "Does access to finance alleviate poverty? A case study of SGSY beneficiaries in Kashmir Valley," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 44(8), pages 1032-1045, August.
    8. Ke Chen & Miss Mali Chivakul, 2008. "What Drives Household Borrowing and Credit Constraints? Evidence from Bosnia and Herzegovina," IMF Working Papers 2008/202, International Monetary Fund.
    9. Steven T. Yen & Margaret Andrews & Zhuo Chen & David B. Eastwood, 2008. "Food Stamp Program Participation and Food Insecurity: An Instrumental Variables Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(1), pages 117-132.
    10. Hoddinott, John & Yohannes, Yisehac, 2002. "Dietary diversity as a food security indicator," FCND discussion papers 136, International Food Policy Research Institute (IFPRI).
    11. George N. Curry, 2003. "Moving Beyond Postdevelopment: Facilitating Indigenous Alternatives for “Development”," Economic Geography, Taylor & Francis Journals, vol. 79(4), pages 405-423, October.
    12. Omotesho, O.A. & Adewumi, Matthew Olaniyi & Fadimula, K.S, 2008. "Food Security and Poverty of the Rural Households In Kwara State, Nigeria," 2007 Second International Conference, August 20-22, 2007, Accra, Ghana 52203, African Association of Agricultural Economists (AAAE).
    13. Kalpana Sastry, R. & Rashmi, H.B. & Rao, N.H., 2011. "Nanotechnology for enhancing food security in India," Food Policy, Elsevier, vol. 36(3), pages 391-400, June.
    14. Caroline Ratcliffe & Signe-Mary McKernan & Sisi Zhang, 2011. "How Much Does the Supplemental Nutrition Assistance Program Reduce Food Insecurity?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(4), pages 1082-1098.
    15. Silvia Magri, 2002. "Italian households' debt: determinants of demand and supply," Temi di discussione (Economic working papers) 454, Bank of Italy, Economic Research and International Relations Area.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Akinwumi Sharimakin, 2023. "Microfinance bank in Nigeria: operating environment, sustainability, and welfare impact," SN Business & Economics, Springer, vol. 3(10), pages 1-27, October.
    2. Sharimakin, Akinwumi & Akinlo, Enisan A., 2022. "Households’ Investment Structure In Southwestern, Nigeria," Ilorin Journal of Economic Policy, Department of Economics, University of Ilorin, vol. 9(2), pages 28-46, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Andrea Sales S. De A. Melo, 2018. "The ?Bolsa-Família? Program And The Food Insecurity In Brazilian Household Between 2009 And 2013," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 72, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. James Mabli, "undated". "SNAP Participation, Food Security, and Geographic Access to Food," Mathematica Policy Research Reports da75fa3a960c45b08490c8f14, Mathematica Policy Research.
    3. Gregory, Christian & Deb, Partha, 2016. "Who Benefits Most from SNAP?," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236648, Agricultural and Applied Economics Association.
    4. Coleman-Jensen, Alisha & Nord, Mark & Singh, Anita, 2013. "Household Food Security in the United States in 2012," Economic Research Report 262219, United States Department of Agriculture, Economic Research Service.
    5. Burney, Shaheer & Boehm, Rebecca & Lopez, Rigoberto, 2021. "The impact of the ACA Medicaid expansion on SNAP participation," Food Policy, Elsevier, vol. 101(C).
    6. Deb, Partha & Gregory, Christian A., 2018. "Heterogeneous impacts of the Supplemental Nutrition Assistance Program on food insecurity," Economics Letters, Elsevier, vol. 173(C), pages 55-60.
    7. Wang, Julia Shu-Huah & Zhao, Xi & Nam, Jaehyun, 2021. "The effects of welfare participation on parenting stress and parental engagement using an instrumental variables approach: Evidence from the Supplemental Nutrition Assistance Program," Children and Youth Services Review, Elsevier, vol. 121(C).
    8. repec:mpr:mprres:8084 is not listed on IDEAS
    9. Irma Arteaga & Colleen Heflin & Leslie Hodges, 2018. "SNAP Benefits and Pregnancy-Related Emergency Room Visits," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 37(6), pages 1031-1052, December.
    10. Helen H. Jensen & Brent Kreider & Oleksandr Zhylyevskyy, 2019. "Investigating Treatment Effects of Participating Jointly in SNAP and WIC when the Treatment Is Validated Only for SNAP," Southern Economic Journal, John Wiley & Sons, vol. 86(1), pages 124-155, July.
    11. James Mabli & Jim Ohls & Lisa Dragoset & Laura Castner & Betsy Santos, "undated". "Measuring the Effect of Supplemental Nutrition Assistance Program (SNAP) Participation on Food Security," Mathematica Policy Research Reports 69d901432c7a46779666a240a, Mathematica Policy Research.
    12. Yusuf Ibrahim Kofarmata & Shri Dewi Applanaidu & Sallahuddin Hassan, 2016. "Determinants of Demand for Credit: A Conceptual Review," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 3(1), pages 6-10.
    13. Gregory, Christian A. & Deb, Partha, 2015. "Does SNAP improve your health?," Food Policy, Elsevier, vol. 50(C), pages 11-19.
    14. Coleman-Jensen, Alisha & Nord, Mark & Andrews, Margaret S. & Carlson, Steven, 2011. "Household Food Security in the United States in 2011," Economic Research Report 134715, United States Department of Agriculture, Economic Research Service.
    15. Rabbitt, Matthew P., 2013. "Measuring the Effect of Supplemental Nutrition Assistance Program Participation on Food Insecurity Using a Behavioral Rasch Selection Model," UNCG Economics Working Papers 13-20, University of North Carolina at Greensboro, Department of Economics.
    16. Kinuthia, Emmanuel K., 2010. "The Effects Of The International Smallgroup And Tree Planting Program On Household Income In Nyeri District, Kenya," Research Theses 117709, Collaborative Masters Program in Agricultural and Applied Economics.
    17. Olomola, Aderbigbe & Gyimah-Brempong, Kwabena, 2014. "Loan demand and rationing among small-scale farmers in Nigeria:," IFPRI discussion papers 1403, International Food Policy Research Institute (IFPRI).
    18. Jones, Jordan & Courtemanche, Charles & Denteh, Augustine & Marton, James & Tchernis, Rusty, 2021. "Do State Snap Policies Influence Program Participation among Seniors?," IZA Discussion Papers 14564, Institute of Labor Economics (IZA).
    19. Ana McCormick Myers & Matthew A. Painter, 2017. "Food insecurity in the United States of America: an examination of race/ethnicity and nativity," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 9(6), pages 1419-1432, December.
    20. Bronchetti, Erin T. & Christensen, Garret & Hoynes, Hilary W., 2019. "Local food prices, SNAP purchasing power, and child health," Journal of Health Economics, Elsevier, vol. 68(C).
    21. Ewura‐Adwoa Ewusie & Samuel Kobina Annim & William Brafu‐Insaidoo, 2021. "The density of microfinance institutions and multiple borrowing in Ghana: Are rural borrowers vulnerable?," Journal of International Development, John Wiley & Sons, Ltd., vol. 33(8), pages 1217-1237, November.

    More about this item

    Keywords

    Indigenous technology; Food security; Access to formal finance;
    All these keywords.

    JEL classification:

    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:ecocul:v:17:y:2020:i:2:p:75-87:n:8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.