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Constraints to Accessing Micro-Credit and Loan Scheme of Bank of Agriculture among Farmers in Enugu State, Nigeria: Implications for Extension Service Delivery

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Constraints to Accessing Micro-Credit and Loan Scheme of Bank of Agriculture among Farmers in Enugu State, Nigeria: Implications for Extension Service Delivery


Mbah Evangeline N | Jiriko, R | Agada, M.O.


Mbah Evangeline N | Jiriko, R | Agada, M.O. "Constraints to Accessing Micro-Credit and Loan Scheme of Bank of Agriculture among Farmers in Enugu State, Nigeria: Implications for Extension Service Delivery" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-1 | Issue-4 , June 2017, pp., URL: http://www.ijtsrd.com/papers/ijtsrd89.pdf

The study examined constraints to accessing micro-credit/loan scheme of Bank of Agriculture (BOA) among farmers in Enugu State, Nigeria: Implications for extension service delivery. Purposive and simple random sampling techniques were used in selecting one hundred (100) respondents for the study. Data were collected using structured interview schedule/questionnaire and analyzed using frequency, percentage, mean scores and standard deviation. The study revealed that micro-credit/ loan scheme (88.6%) were the most patronized among the rural farmers. Others such as ECOWAS, IFAD project and ATHP programme were not patronized at all, probably because the type of projects sponsored by these credit/loan scheme are not important to the respondents. The respondents (farmers) were highly constrained by late release of funds (M= 1.27), grace period too short (M= 1. 17), excessive bureaucracy (M= 1. 14), too short payback period (M= 1. 13), services not regular (M= 1. 13), among others. The Bank of Agriculture staff also noted that they were constrained by late release of approved funds by head quarters of the Bank of Agriculture (M= 1.43), loan diversion (M= 1.27), poor funding of field officers (M= 1.20), lack of awareness by borrowers (M= 1.10) and insufficient staff (M= 0.93). The study recommends that adequate awareness campaign on the availability of micro-credit/loan scheme by Bank of Agriculture should be created in order for the beneficiaries to be knowledgeable about it. It highlights the need for approval of more funds under the scheme and timely release of funds when needed especially during planting season in order to enable the farmers to make judicious use of it for optimum productivity.

Bank of Agriculture, micro-credit, loan, farmers, programme, Nigeria


IJTSRD89
Volume-1 | Issue-4 , June 2017
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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