@article{10.11648/j.ijsts.20231106.17,
  author = {Olagoke Olajide Olowookere and Lawal Lateef Adefalu and Sidiqat A. Aderinoye-Abdulwahab and Ayomieju Rebecca Akubo},
  title = {Perceived Factors Influencing Repayment of Agricultural Input Loans Among Rice Farmers in Kwara State, Nigeria},
  journal = {International Journal of Science, Technology and Society},
  volume = {11},
  number = {6},
  pages = {255-264},
  doi = {10.11648/j.ijsts.20231106.17},
  url = {https://doi.org/10.11648/j.ijsts.20231106.17},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijsts.20231106.17},
  abstract = {Default in the repayment of agricultural input loans hampers the flow of funds, discourages lenders from investing more in agriculture and impairs the supply of agricultural inputs towards better productivity of important food crops like rice. This research therefore examined the perceived factors influencing repayment of agricultural input loans among rice farmers in Kwara State, Nigeria. The research specifically described the socio-economic characteristics of the respondents, examined their perception on loan repayment and identified the institutional, economic and borrower-related factors that are perceived to influence loan repayment. A sample size of 180 rice farmers was obtained by using a three-stage sampling technique. Data analysis was done using both descriptive and inferential statistical tools. The study showed that rice farmers were of average age of 44 years, had average farming experience of 20.8 years and majority (65.6%) had low education. Their perception of loan repayment was average. All the farmers utilized their loans for farming, 55.6% repaid fully while 44.4 defaulted. Late disbursement of loan and high interest rate topped the perceived institutional factors that affect loan repayment while the economic factors were yield loss and low market prices and the major borrower-related factor was high household expenditure. The study concluded that age, education, income, farming experience, farm size, household size and amount of loan are related to loan repayment. The research also concluded that loan repayment is influenced by institutional, economic and borrower related factors. The study recommends: timely delivery of input loans; further extension education of farmers on better home management practices to reduce household expenditure; need for extension agents to work with research institutes to avail farmers improved varieties of rice to increase crop yield in order to enhance income and ease loan repayment; and lenders should prioritize experienced farmers in loan disbursement.
},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Perceived Factors Influencing Repayment of Agricultural Input Loans Among Rice Farmers in Kwara State, Nigeria
AU  - Olagoke Olajide Olowookere
AU  - Lawal Lateef Adefalu
AU  - Sidiqat A. Aderinoye-Abdulwahab
AU  - Ayomieju Rebecca Akubo
Y1  - 2023/12/28
PY  - 2023
N1  - https://doi.org/10.11648/j.ijsts.20231106.17
DO  - 10.11648/j.ijsts.20231106.17
T2  - International Journal of Science, Technology and Society
JF  - International Journal of Science, Technology and Society
JO  - International Journal of Science, Technology and Society
SP  - 255
EP  - 264
PB  - Science Publishing Group
SN  - 2330-7420
UR  - https://doi.org/10.11648/j.ijsts.20231106.17
AB  - Default in the repayment of agricultural input loans hampers the flow of funds, discourages lenders from investing more in agriculture and impairs the supply of agricultural inputs towards better productivity of important food crops like rice. This research therefore examined the perceived factors influencing repayment of agricultural input loans among rice farmers in Kwara State, Nigeria. The research specifically described the socio-economic characteristics of the respondents, examined their perception on loan repayment and identified the institutional, economic and borrower-related factors that are perceived to influence loan repayment. A sample size of 180 rice farmers was obtained by using a three-stage sampling technique. Data analysis was done using both descriptive and inferential statistical tools. The study showed that rice farmers were of average age of 44 years, had average farming experience of 20.8 years and majority (65.6%) had low education. Their perception of loan repayment was average. All the farmers utilized their loans for farming, 55.6% repaid fully while 44.4 defaulted. Late disbursement of loan and high interest rate topped the perceived institutional factors that affect loan repayment while the economic factors were yield loss and low market prices and the major borrower-related factor was high household expenditure. The study concluded that age, education, income, farming experience, farm size, household size and amount of loan are related to loan repayment. The research also concluded that loan repayment is influenced by institutional, economic and borrower related factors. The study recommends: timely delivery of input loans; further extension education of farmers on better home management practices to reduce household expenditure; need for extension agents to work with research institutes to avail farmers improved varieties of rice to increase crop yield in order to enhance income and ease loan repayment; and lenders should prioritize experienced farmers in loan disbursement.

VL  - 11
IS  - 6
ER  - 

Copy | Download