Rice Farmer and Capital Formation: A Case Study of Rice Farmer's Credit Cooperative in Itoikin, Ikosi-Ejirin LCDA, Lagos State

Omowumi A Olowa () and Olatomide Olowa

International Journal of Sustainable Development & World Policy, 2017, vol. 6, issue 1, 1-8

Abstract: This study set out to examine capital formation among rice farmers who belong to rice farmers’ credit cooperative and to isolate factors that determined why some farmer accumulate capital more than others using Itoikin rice farmers’ cooperative society. The study draws on two sources of data namely household level surveys and secondary data to get insight about the size and composition of capital formation among rice farmers. The results showed that on average, farmers were 50 years with about 4 years of education, 6 persons in household size and about ₦73,004.37 as mean income. Capital Formation takes the form of agricultural land, rice, agricultural machinery and equipment. The results further showed that about one-quarter of the net addition to fixed capital come from household savings and the rest three-quarter are borrowed from Cooperative and other sources. Regression results indicate that the most important factors determining the level of capital formation are age, the income from rice, Loan from cooperative and other sources and farm holdings. We also found that an increase in the average education of the farmers increases agricultural capital significantly. Education of farmers/rural dwellers should be at the front burner of all rural transformation agenda.

Keywords: Credit cooperatives; Agriculture; Capital formation; Rice farmer; Lagos state (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://archive.conscientiabeam.com/index.php/26/article/view/2052/2947 (application/pdf)
https://archive.conscientiabeam.com/index.php/26/article/view/2052/5174 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pkp:ijsdwp:v:6:y:2017:i:1:p:1-8:id:2052

Access Statistics for this article

More articles in International Journal of Sustainable Development & World Policy from Conscientia Beam
Bibliographic data for series maintained by Dim Michael ().