ANALYSIS OF CREDIT USE BY THE BENEFICIARIES OF BANK OF AGRICULTURE IN ONITSHA AGRICULTURAL ZONE OF ANAMBRA STATE, NIGERIA
Uche Okeke
Department of Agricultural Economics and Extension,
Chukwuemeka Odumegwu Ojukwu University,
Igbariam Campus, Anambra State, Nigeria
Email: victorokeke76@gmail.com
Abstract: The studies evaluate the
credit use by the beneficiaries of Bank of Agriculture in Onitsha Agricultural Zone
of Anambra State, Nigeria. it specifically examine the socio-economic
characteristics of the small-scale farmers that benefited from B.O.A. credit
facilities; identify other sources of credit available to the farmers and
utilization of credit; determine amount requested, amount approved amount disbursed
and amount repaid by the beneficiaries during the study period; compare the
relationship between amount requested, approved, disbursed and repaid; identify
constraints to credit provision and utilization by the bank and farmers
respectively and derive policy implication base on finding. Sampling procedure
will involve multistage random sampling method where stage one will be
selection of five L.G.A. Out of thirteen L.G.As. Stage two will involve random
selection one community from each of five selected L.G.As. They include Omor,
Aguleri, Umunya, Nkpor, and Atani communities. Finally at stage three, 10
farmers will be selected by random method from each of the five selected
communities making it 50 respondents. Data collected was analyzed by means of
descriptive statistics tools such as means frequency distribution, percentages
and paired sample T-test. The result of
the study showed that 52% of the respondents collected credit from B.O.A. the
loan volume requested is N97, 4 billion
amount approved was N82, 2 billion
repaid, amount due was N73, 8 billion
and amount outstanding was N18.6
billion. The constraints are difficulty of providing acceptance guarantor,
cumbersome bureaucratic problem, high interest rate and untimely loan.
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