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ECONOMIC EVALUATION OF CREDIT REQUIREMENTS OF SMALL-SCALE FARMERS IN KOGI STATE, NIGERIA

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 ECONOMIC EVALUATION OF CREDIT REQUIREMENTS OF SMALL-SCALE FARMERS IN KOGI STATE, NIGERIA

ABSTRACT
This study was designed to evaluate the Credit requirements of
small-scale farmers in Kogi State and to subsequently determine the
optimum farm credit for farmers in the area. Multi-stage random sampling
method was used in the selection of the respondents. In all, a total of 30
respondents were randomly selected from eight communities to give a total
of 240 respondents. The regression results on the effects of Socio-
Economic Variables on credit need showed that the t-ratios for farm size,
education, family size and farm income were significant at five percent
level. Other socio-economic variables like age and farming experience
showed no significant relationship with credit need.

The results from the
farm enterprises budgets showed that the profit derived from the mixture of
yam and cassava production was higher than other crop farm enterprises.
The legst viable enterprise was maizelsorghum mixed production. The
linear programming model showed that from the trials of different levels of
fhrm credit, an optimum was obtained at 4431,533.00. At this optimum
farm credit level a maximum net revenue of 44321,025.63 was obtained. In
line with what is obtained in the area, the model devoted a total of 2.1
hectares for the production of cassava, yam, maize and sorghum
enterprises. The results further showed that labour constraints were surplus
' and land was found to be the major binding constraints. In view of the
findings of this study, the following major recommendations among others
were made:

The relevant government agencies like Kogi .State Agricultural
Development Project should try to educate and assist the farmers to
develop farm plan before commencing production. This will enable them
to know the required input combinations that would maximize the use of
available farm resources with the view to reduce the wastage of farm
resources. In order to increase the farm income of farmers, Development
Banks such as Nigeria Agricultural Cooperative and Rural Development

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