Rice Farmers Cooperative Group Members’ Perception On Loan Repayment In Kwara State, Nigeria.
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Date
2023-03
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Publisher
Federal University Dutsima
Abstract
The study examined the perception of cooperative rice farmers on loan repayment in Edu Local Government Area of
Kwara State, Nigeria. Interview schedule was employed in obtaining information from 138 cooperative rice farmers
randomly selected from twenty-three rice cooperative groups. Data were analyzed using descriptive and inferential
statistical tools. The result shows that the mean age of the respondents was 41 years and household size of 7 persons,
majority (70.3%) were males, married (84.1%), with average rice farming experience 25 years. Also majority (98.6%)
of the respondents have high perception on loan repayment. Loans were used for buying planting materials (98.6%),
paying of laborers (92.8) and managing of farm activities (91.3) among others. Preferred timing of loan repayment are
fortnightly (94.9%) and weekly (65.2%). The constraints timely repayment of loan were diversion of funds to non-farm
ventures ( = 2.18), late disbursement of loan ( = 2.02) high interest rate ( = 1.99), and lack of government support
( = 1.96). Correlation result shows that the age of the respondents (r=0.688, p<0.027), household size (r=0.727,
p<0.021), educational level (r=0.923, p<0.014), and years of farming experience (r=0.661, p< 0.036) showed a positive
significant relationship with perception of loan repayment. The study established that respondents have high perception
for the loan repayment. Socio-economic variables also contributed to the loan repayment. It was recommended that rice
farmers should have access to soft loan since they have high repayment, this would help to expand rice farming and
boost production as well as constant capacity building training on positive perception on loan repayment.
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Keywords
perception, cooperative, rice farmers, loan repayment