Does Microfinance Participation Affect Food Insecurity? An Empirical Evidence from Fish Farmers in Osun State, Nigeria

Abiola Adebunmi Olarinre, Job Olatunji Oladeebo, Adedolapo Kemi Ajala, Muritala Oyedele Jabaru and Matthew Olufemi Adio
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Abiola Adebunmi Olarinre: Department of Agricultural Economics, Ladoke Akintola University of Technology, Ogbomoso, Nigeria.
Job Olatunji Oladeebo: Department of Agricultural Economics and Extension, National University of Lesotho, Lesotho, Southern Africa.
Adedolapo Kemi Ajala: Department of Agricultural Economics, Ladoke Akintola University of Technology, Ogbomoso, Nigeria.
Muritala Oyedele Jabaru: Department of Agricultural and Resource Economics, Federal University of Technology, Akure, Nigeria.
Matthew Olufemi Adio: Department of Agricultural Economics, Federal University, Oye Ekiti, Nigeria.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 10, 2197-2209

Abstract: Nigeria at the moment is currently experiencing a surge in prices of food items with inflation on the rise. Although food insecurity affects the entire world, it is more severe in developing countries; hence, the need to examine the impact of Microfinance Participation on food insecurity among fish farming households in Osun State, Nigeria. A total of 284 respondents who are into fish farming were used for this study. Household food insecurity access scale (HFIAS) and Recursive Bivariate Probit Regression Model were used for the analysis and the impact study. The findings from this research established that most of the fish farming households were food insecured (86.6%) while only a few were food secured (13.4%). Age, years of education, household size, pond size, farming as major occupation and fish farming experience significantly influenced microfinance participation. Conclusively, microfinance participation is established to reduce food insecurity among fish farmers in Osun State, Nigeria. It is recommended therefore, that there should be establishment of more microfinance institutions which will be strictly for fish farmers so as to reduce their food insecurity status and other fish farmers who are not into microfinance participation be encouraged to do so through effective extension agent services.

Date: 2024
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