An Appraisal of the Financial Contribution of the International Bank for Reconstruction and Development to the Growth of Agricultural Sector of Nigeria.
CHAPTER ONE
Objective of the study
The objectives of the study are;
- To examine and evaluate the agricultural create it granted the farmers in recent years
- The study seeks to analyze the measures and program set by the government in a bid to enhancing the agricultural sector.
- To determine the influence of these measures at accelerating the growth rate of the agricultural sector.
- To establish and verify ways by which the agricultural sector can be improved in the future.
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Introduction
There are many problems operating against the development of agriculture in Nigeria. The most serious of these problems is the inadequacy of credit facilities. This has caused a lot of setback to development of this sector of Nigerian economy. Several banks have been encouraged by federal government to give out loans to the needy farmers to boost agricultural production in the country. The effect of agricultural production in relation to bank credit is a master of great value based on the effect unhealthy agricultural environment has on a country. These can be seen from such angles which includes; Starvation, poverty, unemployment, poor economy growth, over dependence on other countries and many more. According to Uchegwu (1995:10),”in trying to solve this problem and encourage bank to meet the prescribed credit target, the federal government established by decree no. 20 of 1977, the agricultural credit guarantee scheme fund (ACGSF) 25 managed by the central bank of Nigeria”. This scheme guarantees the repayment of loans granted to agricultural investor. But it has not significantly reduced the increased pressure of high demand for agricultural credit. The continued inability of farmers to meet the collateral requirement of the commercial banks further led to central bank of Nigeria’s small-scale farmers lending guideline introduced at the beginning of 1987. The dilemma of the under development of the agricultural sector is clearly seen in observing the malnutrition suffered physically by the populace and that experienced in the dwindling economy.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain An Appraisal of the Financial Contribution of the International Bank for Reconstruction and Development to the Growth of Agricultural Sector of Nigeria.. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of an appraisal of the Financial Contribution of the International Bank for Reconstruction and Development to the Growth of Agricultural Sector of Nigeria.
Summary
This study was on an appraisal of the Financial Contribution of the International Bank for Reconstruction and Development to the Growth of Agricultural Sector of Nigeria. Three objectives were raised which included: To examine and evaluate the agricultural create it granted the farmers in recent years, the study seeks to analyze the measures and program set by the government in a bid to enhancing the agricultural sector, to determine the influence of these measures at accelerating the growth rate of the agricultural sector and to establish and verify ways by which the agricultural sector can be improved in the future. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from ministry in Lagos. Hypothesis was tested using Chi-Square statistical tool (SPSS).
Conclusion
From our findings, the result revealed a positive and insignificant impact between interest rate and agricultural output. Also, the result also established a positive and significant relationship between bank loan advances and livestock production. The result has established a positive and significant relationship between bank loan advances and crop production. The general conclusion is that Deposit Money Bank Loans or Credits is paramount in promoting agricultural sector
Recommendation
Farmers should be encouraged to be applying for loans from the participating banks to enhance their agricultural activities and productivity; and also to repay the loans as and at when due. Thus enough sensitization exercise must be carried out to local areas where majority of farmers need the funds. Finally, government should ensure that bank claims as a result of default and borrowers’ interest draw backs are paid without delay. This will not only motivate both participating banks and farmers in the scheme but will also attract others who are skeptical. The end result is the nation reaping the dividend of adequate credit into our agricultural sector and that is increased productivity, which is a sine qua non in agricultural development
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