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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:An evaluation of institutional credit and its role in agricultural production in Rivers State, Nigeria
Author:Mbata, J.N.
Year:1991
Periodical:African Review of Money, Finance and Banking - Supplement to 'Savings and Development'
Issue:1
Pages:5-22
Language:English
Geographic term:Nigeria
Subjects:agricultural credit
agricultural production
External link:https://www.jstor.org/stable/23027506
Abstract:Agricultural credit is regarded as a pertinent vehicle for increased efficiency among small-scale farmers. This study therefore evaluates the role of institutional credit and its impact on small-scale farmers in Rivers State, Nigeria. A simple random sampling technique was used to select 120 farmers who have obtained credit from a financial institution during the period 1988-1989. The results of the analysis showed that, despite the high interest charged by the institutions, small-scale farming was profitable. It also was observed that farmers overutilized labour and land but underutilized credit. Furthermore, information gathered from the study showed that bureaucratic procedures of the institutions, the untimely release of funds, high interest rates and the absence of banking facilities in the rural areas were major bottlenecks to credit extension. It is recommended, amongst others, that the amount of credit loanable to small-scale farmers be increased in view of the rising cost of production. Rural branches of the financial institutions should be established for easy accessibility to small-scale farmers while the financial institutions should endeavour to disburse approved loans promptly. Bibliogr.
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