Authors :
Gidado Ibrahim
Volume/Issue :
Volume 9 - 2024, Issue 5 - May
Google Scholar :
https://tinyurl.com/ykhjt9fh
Scribd :
https://tinyurl.com/5229c8sx
DOI :
https://doi.org/10.38124/ijisrt/IJISRT24MAY1975
Abstract :
The main objectives of the study was to assess
strategies for financing Agricultural development for
sustainable economic growth in Taraba State, specifically
the study sought to: access financial sources for
Agricultural development, strategies that could usually
serve as a catalyst for agricultural development, determine
rational for sustainable economic growth and identify the
major cons traits. Survey research design was adopted in
carrying out the research. The population of the study
areas comprised all registered farmers in the study area,
numbering 36,501. 2 steps sampling techniques were
adopted to draw the sample size. Six Local Government
areas were purposely selected out of which 350 respondent
were randomly selected for the study. Validation and
reliability test of the instrument for primary data
collection were conducted. Mean and standard deviation
(SD) were used in data analysis. The finding shows that 64
of respondents engage in farming, the finding also reveal
that the strategies needed to improve financing agriculture
include: improve Farmers education, granting credit
facilities, and encourage farmers to form cooperative
society and average (mean = 3.61, SD = .58). The study
further reveal that sources of financing agricultural
development includes: individual and family saving, Bank
of Agriculture, commercial banks, Micro Banks, and
Individual money lenders with an average (mean = 3.74,
SD = .56). inadequate skills and knowledge by farmers,
lack of collateral to access loan and non-formation of
cooperative society were identified as a major constraint
(mean = 3.50, SD = .58). the study recommended that both
the Government, NGO and Private sectors need to provide
the needed strategies and improve sources of credit to
farmers for sustainable economic growth.
References :
- Ademala O. and unyansa (2022) Essential of entrepreneurship management problems and prospect of small scale industries in kwara state, Nigeria.
- Ademola O. (2024) Rival Development in Nigeria dynamic and strategies, macmillan production Ibadan, Nigeria.
- Agbulum O.N (2023), Food Security and poverty tradition in Developing countries; wwe.nono/fish.center.org.vol.5 (6) PP 1-3.
- Agbulum O.N and Wever D.G (2024) institutional marketing of agro-allied product in Nigeria, Journal of agriculture and environment vol.18 (4) pp13-15
- Asongwa N (2023) Small and Medium Scale Enterprises (SMEs) policies and strategies in Nigeria.
- Gidado, I. (2016) strategies for enhancing participation of rural youth in Commercial fish production in Taraba State, Nigeria Ph.d thesis.
- Gidado, I. (2021) Embracing Small and Medium Scale enterprises and strategies for poverty education among youths in Taraba State, Nigeria (IOSR - JAVS) vol. 14(6) pp.40-44
- NPC (2022) National population commission, Nigeria
- MOARD (2024) Ministry of Agriculture and Rural Development, Taraba State.
- Ochur, O. N (2020) Education for National Growth and Stability, peace maker publisher Makurdi, Benue State, Nigeria pp.58-62.
- World Bank (2024) https:www.web.com Report document on poverty in Nigeria.
The main objectives of the study was to assess
strategies for financing Agricultural development for
sustainable economic growth in Taraba State, specifically
the study sought to: access financial sources for
Agricultural development, strategies that could usually
serve as a catalyst for agricultural development, determine
rational for sustainable economic growth and identify the
major cons traits. Survey research design was adopted in
carrying out the research. The population of the study
areas comprised all registered farmers in the study area,
numbering 36,501. 2 steps sampling techniques were
adopted to draw the sample size. Six Local Government
areas were purposely selected out of which 350 respondent
were randomly selected for the study. Validation and
reliability test of the instrument for primary data
collection were conducted. Mean and standard deviation
(SD) were used in data analysis. The finding shows that 64
of respondents engage in farming, the finding also reveal
that the strategies needed to improve financing agriculture
include: improve Farmers education, granting credit
facilities, and encourage farmers to form cooperative
society and average (mean = 3.61, SD = .58). The study
further reveal that sources of financing agricultural
development includes: individual and family saving, Bank
of Agriculture, commercial banks, Micro Banks, and
Individual money lenders with an average (mean = 3.74,
SD = .56). inadequate skills and knowledge by farmers,
lack of collateral to access loan and non-formation of
cooperative society were identified as a major constraint
(mean = 3.50, SD = .58). the study recommended that both
the Government, NGO and Private sectors need to provide
the needed strategies and improve sources of credit to
farmers for sustainable economic growth.
