The Impact of Micro Credit Financing on the Output of the Nigerian Farmers (A Case OF South Eastern States of Nigeria 1990-2005).
Obalum, Ikechukwu E
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The purpose of this study is to determine if there is significant increase in output of the Nigerian farmers after micro credit loan had been obtained. The study made use of secondary data predominantly, especially data from the Nigeria Agricultural Co- operative and Rural Development (NACRDB). The Statistical tool used in the analysis are : Difference between tow means of X and Y variable; spearman correlation coefficient of variations and finally the Z test. At the end of the analysis we found that the Nigeria farmers significantly depend on micro Credit loan to increase out; secondly, there was a significant difference in output after micro credit loan had been obtained. On this basis of our research findings, we recommend that Nigerian farmers should be economically empowered now than ever before; that micro credit scheme should be sustained by all tiers of government (Federal, State and Local Government); that agencies such as NACRDB and NAPEP should involve in public enlightenment program that will educate farmers on opportunities open to them; that private sectors can participate actively on micro credit scheme by setting up agricultural foundation scheme for the provision of micro credit to farmer.