Factors Affecting the Use of Commercial Bank Credit Facility Among Fish Farmers in Ogun and Ondo States, Nigeria

Olatomide Olowa and Omowumi Ayodele Olowa

The IUP Journal of Bank Management, 2013, vol. XII, issue 1, 35-42

Abstract: The importance of a study on peasant credit programs can never be overemphasized because of the importance of credit in agricultural production. Emphasis on commercial bank credit is needed, over other available sources in Nigeria, for fishing sub-sector of agriculture to achieve the expected fish production expansion. The present paper examines the use of commercial bank credit in Nigeria and finds that non-fishing income (b = –0.38), farming experience (b = –0.26), lending rate of other sources of credit (b = 0.49), membership of cooperative society or farmers’ group (b = –0.23) and age of the fish farmers (b = 0.11) are the key determinants. Therefore, the policies, programs and promotional efforts which consider these attributes are likely to be most successful in enhancing the rate of use of commercial bank credit in Nigeria.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjbm:v:12:y:2013:i:1:p:35-42

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