Analysis of Investment Pattern of Cooperative Farmers in Sardauna Local Government Area of Taraba State, Nigeria

*VOSANKA I. P., **ALAM M. K., AND ***RIKWENTISHE R.

Department of Agricultural Extension and Management, Taraba State College of Agriculture, Jalingo

E-mail: vosanka@yahoo.com

ABSTRACT

The study analyzed the investment pattern of cooperative farmers in Sardauna Local Government Area of Taraba State, Nigeria. Data were obtained from 110 respondents drawn using simple random sampling technique and analyzed using descriptive statistics and multiple regression analysis. The result showed that the cooperative farmers were mostly male-headed (56%) and below the age of 40 years. About 55% had household size between 1 to10 people, 80.9% engaged in farming as their major occupation with farm size ranging from 0.5 to 4 hectares. The multiple regression results revealed that the coefficient of determination (R²) was 0.5404 (i.e. 54%), indicating that the variations in investment pattern was accounted by 54% of the independent variables used for the analysis. The multiple regression results on the socio-economic characteristics of respondents influencing their investment shows that age, income, cooperative experience and credit facilities positively influenced the respondent’s investment pattern in the study area at 1 Percent and 10 percent levels of significance. The study identified inadequate finance, low incomes of farmers, and high number of dependants as some of the constraints on investment in the area. The investment level of the cooperative farmers can be increased if loans are adequately made available and proper monitoring of the funds for specific production purposes is put in place. Also, policy on investment should consider farmers’ socio-economic characteristics as well as subsidy on farm inputs would also encourage farmers to invest more.