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Effects of Agricultural Insurance Scheme on Agricultural Production in Ondo State

Author

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  • Akinrinola, Olumide Oyewole
  • Okunola, Akinbode Michael

Abstract

This study was carried out to see how well the objectives of the Nigerian Agricultural Insurance Scheme had been achieved in Ondo State. Multi-stage sampling technique was used to select 120 insured farmers from two local government areas and a well-structured questionnaire was used to collect data from the farmers. The data collected were analyzed using descriptive statistics. The analysis shows that accessibility to credit was the only reason the farmers participated in the insurance scheme. However, the farmers affirmed that there was increase in investments which brought about increases in their output. Thus, their accessibility to farm credit could be said to be responsible for these increases. Hence, some of the objectives of the agricultural insurance scheme to increase agricultural production and accessibility to credit had been achieved.

Suggested Citation

  • Akinrinola, Olumide Oyewole & Okunola, Akinbode Michael, 2014. "Effects of Agricultural Insurance Scheme on Agricultural Production in Ondo State," MPRA Paper 74558, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:74558
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    File URL: https://mpra.ub.uni-muenchen.de/74558/1/MPRA_paper_74558.pdf
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    Citations

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    Cited by:

    1. Okunola, Akinbode Michael, 2017. "Capital investment : lubricant of the engine of production process in agricultural sector – evidence from Nigeria," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 3(4), December.
    2. Shirinyan Lada & Arych Mykhailo & Rohanova Hanna, 2021. "Influence of Insurance on Competitiveness of Food Enterprises in Ukraine," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 43(1), pages 5-12, March.

    More about this item

    Keywords

    Agricultural Insurance; Farm Credit; Investment; Output; Accessibility; NAIC;
    All these keywords.

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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