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Effects of Socio-Economic factors of Loan Administrators on Recovery Rate among Agricultural Cooperatives in Benue State, nigeria

Journal: International Journal of Environment, Agriculture and Biotechnology (Vol.3, No. 3)

Publication Date:

Authors : ;

Page : 787-791

Keywords : Agricultural loan; Agricultural Cooperatives; default prevention; and loan recovery rate; Benue State; Nigeria.;

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This study was undertaken to analyze the effect of socio-economic factors of loan administrators on loan recovery rate among agricultural co-operatives in Benue State of Nigeria. A purposive and simple random sampling technique was used to select 130 respondents. Data were collected using structured questionnaire and was analyzed using descriptive statistics and multiple regression. The result showed that majority of the respondents were male (58.46%), married (67.69%), educated (63.01%), with mean cooperative experience of 14.39 years (86.92%) and household size between 1 - 5 members. The result also showed that respondents were averagely young (36 years) and were relatively low income earners (N 2,480,000 per annum). The result shows that loan size was the only variable that significantly and positively affected loan recovery rate. The coefficients of salary, age, years in education, household size, cooperative experience, marital status and sex had no effect on recovery rate. It was recommended that administrators should give higher portfolio size loans as these will trigger them to carefully look at business activities in their coverage areas that are capable of repaying loans from precede of sales and cash flow.

Last modified: 2018-05-20 00:56:31