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Research Paper | Agricultural Economics | Nigeria | Volume 5 Issue 9, September 2016
Effects of Micro-Credit on Livestock Production among Smallholder Livestock Farmers in Yakurr LGA, Cross River State, Nigeria
Abstract: The study analysed the effect of micro-credit on livestock production among smallholder livestock farmers in Yakurr Local Government Area of Cross River State in Nigeria. Data for the study were obtained using a 3-stage random sampling procedure and analysed with descriptive statistics and multiple regression. Results showed that 55.3 % of the respondents were males, 48.7 % were aged between 40-49 years, 52 % were married, 46.6 % had secondary education, 48.7 % had farming experience of between 6-10 years, 74.7 % had less than 1ha farm size, 64 %, 25.3 % and 10.7 % reared poultry, goat and swine respectively. The results also showed that 78 % obtained micro-credit from informal sources while 48 % obtained between 61, 000.00 and 80, 000.00. The R2 was 0.73 showing that 73 % of the total variations in the dependent variable were explained by the independent variables in the regression model which is a good fit. This result indicated that micro-credit had significant effect on livestock production in the study area. Livestock farmers were constrained by high interest rate charged 33 %, few number of financial institutions 23.3 % and high cost of feed 20 %. Formal financial institutions should extend their services to the area by opening more branches and government should help livestock farmers by subsidizing the cost price of feeds, medication and vaccine.
Keywords: Effect, Micro-credit, Smallholder, Livestock, Production
Edition: Volume 5 Issue 9, September 2016,
Pages: 65 - 68