MOBILIZATION OF FINANCIAL RESOURCES THROUGH TRADITIONAL FINANCIAL INSTITUTIONS FOR IMPROVED AGRICULTURAL DEVELOPMENT

Adeusi, Stephen and Ibitoye, Olusola Anthony and Oke, M.O. (2014) MOBILIZATION OF FINANCIAL RESOURCES THROUGH TRADITIONAL FINANCIAL INSTITUTIONS FOR IMPROVED AGRICULTURAL DEVELOPMENT. Proceedings of Entrepreneurship Education at Obafemi Awolowo University, OAU, Ile-Ife. pp. 1-21.

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Abstract

The main purpose of this study is to examine the effect of mobilisation of financial agricultural development in Kwara State, Nigeria. The variables, employed in this study to measure agricultural development were; productivity, that is, the responsiveness (in terms of crop yield) of the various farm produce such as; (maize, sorghum, Rice, yam, ground-nut and other produce), and loans and advances supplied to farmers in Kwara state within the period of coverage. Methods used in collecting data include; interview, records and questionnaires. The empirical results indicate that informal financial institutions constitute a large source of financing agricultural sector in the area and that a very high percentage of farming credit is usually obtained from the institution. Majority of the respondent (83.7%) claimed that informal financial institution can improve the agriculture sector due to the significant role it plays. Finally, it can be noted that there has been a development in agricultural sector between the year 2005-2009 as a result of operation ‘BACK to FARM’ programme invented by the governor Bukola Saraki, which led to massive increase in agricultural production both in productivity, Area Planted, yield and as well as effort of informal finances on farm operation.

Item Type: Article
Uncontrolled Keywords: Financial resources, Agricultural development, Traditional financial institution.
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Tayo Okunlola
Date Deposited: 12 Nov 2016 12:46
Last Modified: 12 Nov 2016 12:46
URI: http://eprints.abuad.edu.ng/id/eprint/1236

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