Assessment of Strategies for Financing Agriculture Development for Sustainable Economic Growth in Taraba State, North East, Nigeria

Gidado Ibrahim1

1

Publication Date: 2024/06/17

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.

Keywords: No Keywords Available

DOI: https://doi.org/10.38124/ijisrt/IJISRT24MAY1975

PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT24MAY1975.pdf

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