Effect of Institutional Credit on Farmers’ Output in Benue State of Nigeria
Simeon T. Asom
Department of Economics,
Benue State University, Makurdi-Nigeria
Email: asomts@gmail.com
ABSTRACT
The study examined the effects of institutional credit on farmers’ output in Benue State of Nigeria using Bank of Agriculture (BOA) as a case study. A sample size of 362 respondents was selected through a proportionate random sampling technique. The study used both descriptive and the test of mean differences. The results of the study showed that there is significant difference between the farmers’ output before and during the benefits from BOA loan in Benue State. The study therefore, recommends that government should encourage the establishment of more formal credit institutions in the rural areas, generally; and revive the moribund branches of BOA in the State. The government and BOA should also create more awareness about the existence of formal agricultural credits for agricultural production among the farmers, and enlightenment campaign on how to access these credit facilities especially in the rural areas.
Keywords: Farmers’ Output, Bank of Agriculture and Institutional Credit
