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Assessment of Loan default Trend on the Amount of Loan Granted to Farmers in Kwara State, Nigeria 1984- 2014

Journal: International Journal of Environment, Agriculture and Biotechnology (Vol.2, No. 6)

Publication Date:

Authors : ;

Page : 3116-3118

Keywords : Loan; Default; trend; loan granted; Farmers;

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This study was carried out to assess the growth trend in the amount of loan granted to farmers in the study area for the period 1984-2014. Secondary data was used and sourced from central bank of Nigeria statistical bulletin, Nigeria bureau of statistics and Kwara state bureau of statistics. The result showed that there was an acceleration in the amount of loan defaulted by farmers for the period 1984-2014 in the study area and 73% variations was noticed in the exponential time trend for the period. It was concluded that a rigorous effort to speedy the increase and availability of loan process to make more funds available should be inaugurated to increase farmers ability to purchase improved inputs so as to increase productivity in the agricultural sector as a whole and proper monitoring should be put in place

Last modified: 2017-12-26 02:35:19