Download complete project material on Analysis Of The Contribution Of The Bank Of Agriculture In Enhancing Agricultural Production Among Cooperative Farmers from chapter one to five
CHAPTER ONE
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INTRODUCTION
1.1 Background of the Study
Agriculture is the main stay of the Nigerian economy, and financing of agriculture takes the centre stage of every developing economy of the world (Biosu, 2011). In Nigeria for instance, agricultural financing is considered at national, state and local levels, on the basis of which a financing institution as Bank of Agriculture is designated for the sector.
It is against this backdrop that self help organizations such as agricultural cooperatives are encouraged to take advantage of incentives that emanate from loan facilities, this will facilitate bulk purchase of agricultural farm inputs which will foster the availability of the agricultural input to the entire members of such cooperatives and also facilitate the use of complex agricultural inputs.
Between 70-80% of Nigerians population works in agricultural sector but it is a high risk sector vulnerable to unpredictable weather patterns, volatile international commodity prices and political interference.
Such risks discourage investment, such as loans for small scale farmers to buy improved seeds and fertilizer or equity allowing agricultural Small and Medium Enterprises (SMEs) to purchase the equipment and technology needed to grow.
Furthermore, the cost of expanding financial services through model businesses, the risk and cost of securing loan lead to low investment which trap agriculture in a negative spiral thereby leading to lower rations that leave lower funds for investment.
The fact is that the bulk of agricultural produce are in the rural areas which is common with the small scale farmer. It is on this note that the study seeks to examine the effectiveness of Bank of Agriculture in improving the production capacities of small scale farmers through its intervention.
1 .2 Statement of the Problem
Agricultural cooperatives are formed to enhance members’ productivity. Apart from enhancing members’ productivity, they help to provide profitable markets for their members’ produce. This helps members to have higher productivity as well as good market for their produce.
This will help to realize the essence of joining agricultural cooperatives (Amahalu, 2008). For this to be effectively done, measures are usually put in place to create awareness in the general public about the existence of such agricultural cooperatives and their activities that could benefit people.
Nigeria as a nation depends largely on agriculture for its survival. Over the years, government has realized that for any development to prosper, there must be an aim at developing our agricultural sector.
Unfortunately, it appears as if agricultural loan disbursement measures put in place by government are not effective in enhancing members’ produce. For instance, most of the members of agricultural cooperatives still depend on self help by themselves and not under the umbrella of their cooperatives. Beside, many people are yet to understand that such agricultural cooperatives exist with such arrangements to help members secure loan towards improved production capacities.
This call to question whether the measures of agricultural cooperatives are really done to enhance members’ production capacities. Given the aforementioned, the researcher seeks to gather empirical data that could help in solving the problem.
3. Objectives of the Study
The followings are the objectives of the study:
1. To examine the effectiveness of Bank of Agriculture in improving the production capacities of small scale farmers.
2. To find out small scale farmers attitude towards the activity of Bank of Agriculture in improving their production capacities.
3. To examine the difficulties encountered by small scale farmers in accessing loan from the bank.
4. To suggest adequate solutions to the problem of small scale farmers in accessing loan from the bank.
1 .4 Research Questions
The following research questions guided the study:
1. Of what effectiveness is the Bank of Agriculture in improving the production capacities of small scale farmers?
2. What are the attitudes of small scale farmers towards the activity of Bank of Agriculture in improving their production capacities?
3. What are the difficulties encountered by small scale farmers in accessing loan from the bank?
4. What measures would you suggest to adequately solve the problem of small scale farmers in accessing loan from the bank.
1.5 Significance of the Study
This study finds out how the production capacities of the small scale farmers could be improved through the Bank of Agriculture. The significance of a study of this magnitude cannot be overemphasized. This research work is expected to be of value to national policy makers in agricultural sector towards formulating good policy for effective disbursement of agricultural loans with stringent measures.
The bank and government at all levels will find the result of this project valuable because it will help in identifying the need for effective allocation of funds to the agricultural cooperatives and also suggest ways for more efficient and effective utilization of resources.
Furthermore, farmers and agricultural cooperative societies will also find it useful because the outcome of the current study will assist them in evaluating the level of assistance that is provided by the Bank of Agriculture towards small-scale farming.
The government cooperative department, both federal and state level may also find it useful in evaluating the operation of the bank towards effective loan disbursement and judicious utilization of the granted loan.
It should be noted that this study is important to students undergoing research work similar to the present study as a reference material for their own research work.
1.6 Scope of the Study
This study examines the effectiveness of Bank of Agriculture in improving the production capacities of members of agricultural cooperatives. An examination of how the activity of Bank of Agriculture improves the production capacities of small scale farmers in two selected cooperative society. The study discusses the problem encountered both by the bank and small scale farmers.
This research work is limited to farmer cooperative society, Kaduna State. The data for the study would be solicited and generated from the two cooperative societies for the time period 2010 to 2016.
1.7 Definition of Terms
Agriculture: It is defined as the cultivation of foods crops, breeding of animals and management of livestock.
Agricultural Cooperative: Agricultural cooperative is associations of farmers who meet voluntarily to produce farm products at minimal prices, loan, and sell their produce to members and non-members.
Bank: It is a financial institution that is duly licensed to perform the business of safekeeping of people’s money and. Property.
BOA: Bank of Agriculture
Capacity: Specific ability of an entity person or organization or resource measured in quantity and level of quality over an extended period.
Cooperative: It is an autonomous association of persons united voluntarily to meet their common economic, social, cultural needs and aspiration through a jointly owned and democratically controlled enterprise.
Development: It can be referred to as the process through which goal is achieved progressively.
Farmers: These are those people that use land in growing crops and rearing of animals.
Impact: To have strong impression or effect on somebody.
Loan: It is the money being lent by the bank to farmers and other individuals.
Production: Production is a process of combining various material inputs and immaterial inputs (plans, know how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals.
Small Scale Farming: Is an alternative to factory farming or more broadly, intensive agriculture or unsustainably farming methods are prevalent in primary countries.
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