Greener Journal of Agricultural Sciences Vol. 4 (5), pp. 199-204, June 2014.
Manuscript Number: 011014028
Provision of Credit and Loan Facilities by Nigerian Agricultural Cooperative and Rural Development Bank (NACRDB) to Farmers: Implications for Extension Services Delivery
Department Of Agric. Econs & Extention, Anambra State University, Igbariam.
Email: maryosy11@ yahoo. com, Phone: +2348064691392
This paper assessed NACRDB’S credit and loan facilities provision for rural farmers, in Nigeria. Date were collected through structured questionnaires, the data were analyzed using frequency counts, percentages and mean scores. Results showed that the micro –Credit/ loan was the most patronized by the rural farmers. The other credit / loan offered such as the ECOWAS, the IFAD project and the ATHP programme were not patronized at all, probably due to the unimportance of the type of projects sponsored by these credit/ loan facilities in the study area. Results showed that, majority of farmers (82.9%) were married and (34.5%) were well educated. Their major and minor occupation was farming and civil service respectively. Problems identified on the part of the beneficiaries included, late release of funds, and short payback period. Other problems included excessive bureaucracy, short grace period, and services not regularly available and high interest rate. Also NACRDB staff indicated their major problems as; lack of awareness by borrowers (30%), Late release of approved funds by headquarters (56.7%) poor funding of field officers (40%), insufficient fund (10%). The study also showed the areas requiring improvement such as; use of extension workers in dissemination of information (60%), computerization of the banks (56.7%), timely release of approved funds (45.7%), increase loan duration (42.9%), more awareness campaigns (41.4%), give attention to individuals than groups (37.1%), give enough to meet needs/ demand (37.1%) give more attention to groups than individuals (37.5%) the study recommended that there should be more awareness campaigns by NACRDB, the bank should strive to approve more funds under the scheme and timeliness in the release of funds especially release of fund for meeting the peak period of farmers demand for credit.
Keywords: Micro credit, rural, development, and facilities.
Agbo, FU, (2000). Increasing the output of cassava through women cooperatives. Nigerian Journal of cooperatives Studies 2(1) 24 – 38.
Ambruster, P. (2001). Cooperative banks in Europe: Values and practices to promote Development IRU Courier 3: 10 – 13.
Banqual, KAM. and BI. Meyer (1993). The Political Economy of Rural Loan Recovery, Evidence from Bangladesh Savings and Development; Vol. Xv11, N0.1 pp.23-38.
Central Bank of Nigeria (2006). Economic and Review, Vol.6, No.2
Ekong, E. Bkong (2003). An introduction to Rural Sociology, edition 2; Dove education publishers, Ugo. Pp. 404
Nenna, MG, Ugbajah MO and Ugwumba, COA. 2012. Encouraging Farmers” Full Participation in Policy Implementation for Sustainable Agricultural And Rural Development in Anambra State Nigeria. International Journal of Applied Research and Technology November 2012 Pp 35 – 42.
Onyeagocha, S., (2008) Comparative study of the methods and performance of micro – finance institutions in southeastern Nigeria. Unpublished Ph.D thesis, Department of Agricultural Economics, University of Nigeria Nsukka.
Ugbajah MO. and Orji .EC. (2006) studies on the Determinants of access to financial Services among Male and Female farmers in Anambra state. Proceedings of the Annual conference of the Agricultural Society of Nigeria Held at Umudike, Umuahia, 2006. Pp 110-114.
Ugbajah, MO.( 2011) Econometric Gender Analysis of the Structure and Effects of Access to Financial Services Among Rural Farmers in Anambra State, Nigeria Journal of Agricultural Sciences. Volume 2 December 2011 pp 107- 111.
United Nations Development Programme (2004) Nigeria Development profile. March 2004.
Call for Articles/Books
Call for Scholarly Articles
Authors from around the world are invited to send scholary articles that suits the scope of this journal. The journal is currently open to submissions and will process and publish articles daily, immediately they are ready.
The journal is centered on quality and goes about its processes in a very timely fashion. Seasoned editors/reviewers will be consulted to review each article(s), profer quality evaluations and polish the articles with expertise before publication.
Use our quick submit button to submit or simply send your article(s) as an e-mail attachment to email@example.com or firstname.lastname@example.org.
Call for Books
You are also invited to submit your books for online or print publication. We publish books related to all academic subject areas. Submit as an e-mail attachment to email@example.com.