IMPACT OF THE NIGERIA AGRICULTURAL CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) IN ASSISTING FARMERS FOR AGRICULTURAL PRODUCTION IN UDI LOCAL GOVERNMENT AREA OF ENUGU STATE

PROJECT TOPIC- IMPACT OF THE NIGERIA AGRICULTURAL CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) IN ASSISTING FARMERS FOR AGRICULTURAL PRODUCTION IN UDI LOCAL GOVERNMENT AREA OF  ENUGU STATE

 

Chapter one

introduction

background of the study      

The beginning of 1970s, in Nigeria was regarded as one of the period of abundant Agricultural production. Nigeria has an Area of about 923,768 square kilometres and lies between latitude 40 and 14o  East  of the Greenwich meridian. It lies entirely within the tropical zone, her diversity of climate and vegetation foster

the production of different crops in the forest belt like palm, Kola nut, Cashew, orange, pawpaw, Cocoa, Plantain, Cereals and tuber; (Anon, 2000). Agriculture plays an important role in the social– economies development of many countries, such as provision of food, shelter, raw materials for industries, foreign exchange

earning and also provides ready employments for about 60 percent of adult in Nigeria and other developing countries, (Anon 2000). Food production in African is growing, but not fast enough to keep pace with the population, this is not surprising when we consider that the continents population growth rate; is 3.1 percent per annum.

And is probably the highest experienced by the human race and certainly higher than the maximum experienced in south East Asia and Latin American,    (F.A.O. 2001). As a result of these, within 25 to 30 years, many Africa countries needs to feed  population twice their current size and the task of doubling food production becomes a problem.

Farmers encounter various problem in the course of producing crops and animal such as purchasing farm inputs, acquiring land among others with the aim of building a sustainable agricultural development. The access to agric capital and loan has been elusive for many years and this cause agricultural development to dwindle in Nigeria.

If food production by our farmers must catch up with the population growth, farmers must be helped financially to move higher. In their production activities,  (Aigbokhan, 2003). the persistence of the problem led to the establishment of Nigeria. Agricultural Co-operative and Rural Development Bank of Nigeria

(NACRDB) in 1972 by the Central Bank of Nigeria (CBN) and the federal government, with the objective of making funds available to the agric sector, oversee the distribution,  allocation and monitoring of loans and credit given to farmers.

The assistance of Nigeria Agricultural co-operative and Rural Development Bank (NACRDB) can help farmers in many ways, to bring about increased agricultural output and productivity, to improve economic return from farm activities, acquire land  and purchase farm input,: (Dean et al 2003).

PROJECT TOPIC- IMPACT OF THE NIGERIA AGRICULTURAL CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) IN ASSISTING FARMERS FOR AGRICULTURAL PRODUCTION IN UDI LOCAL GOVERNMENT AREA OF  ENUGU STATE

STATEMENT OF THE PROBLEM 

 Agriculture has been the mainstream of the Nigerian economy having 90% of the rural population being employed with its sub-sectors, fisheries, crop production, animal production and other sectors of Agriculture. Farmers encounter various problems in the course of producing a sustainable agricultural development.

The access to agricultural fund  has been elusive for many years and this led to the agricultural development problem in Nigeria. The Nigerian government has established some Agricultural development programmes to help in reducing the problems.

PURPOSE OF THE STUDY

The purpose of this study is to determine the impact of the Nigeria agricultural co-operative and Rural Development Bank (NACRDB) in assisting farmers for Agricultural production in Udi Local Government Area of  Enugu State specifically the study tend to:

  1. Identify the extent of loans disbursement to farmers.

  2. To determine the class of farmers who were beneficiaries of Nigerian Agricultural Co-operative and Rural Development Bank ( NACRDB) loan.

  • Determine the regularity of the loan disbursement.

  1. To determine the interest rate on the loan disbursement to the farmers by the Nigeria Agricultural Co-operative and Rural Development Bank (NACRDB),

  2. Ascertain the repayment rate by the farmers.

SIGNIFICANT OF THE STUDY

The study will be of paramount important to the farmers, community, Government among others.

The Farmers: The result of this study will help the farmers to obtain loans from the  Nigeria Agricultural co-operative and Rural Development Bank (NACRDB) in Udi Local Government, in order to enable them achieve their objectives of maximising profit, acquirreuing land, and to stimulate development of the Nigeria economy.

The Community: The result of this study will help in community development, when loan is disbursed, registered farmer in local, state and federal government can obtain loan, buy inputs for planting, hire land, produce in large quality and  quantity,  therefore making food available for the teeming population.

The Government: The result of this study will help the local, state and federal government in achieving her objective stated by the food and Agricultural Organization  (FAO) in 2001, making loan available to farmers. Farmers will produce in large quality and quantity, taxes will be raised on some of these products creating income to the government while others will be exported as a means of  foreign exchange to other countries.

research questions

  1. To what extent are loan disbursed to farmers by Nigeria Agricultural Co-operative and Rural Development Bank (NACRDB) in Udi local government area of Enugu state?

  2. Which class of farmers benefits from Nigeria Agricultural Co-operative and Rural Development Bank (NACRDB) loans in Udi local government area of Enugu state?

  • How regular is the loan disburse d to farmer by Nigeria Agricultural co-operation and Rural Development Bank (NACRDB) in Udi local government area of Enugu state?

  1. What are the interest rate  on loans disbursed to farmers by  Nigeria Agricultural co-operative and rural development Bank (NACRDB) in Udi local government area of Enugu state?

  2. At what rate do farmers repay Nigerian Agricultural Co-operative and Rural Development Bank  (NACRDB) loans given to them?

PROJECT TOPIC- IMPACT OF THE NIGERIA AGRICULTURAL CO-OPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) IN ASSISTING FARMERS FOR AGRICULTURAL PRODUCTION IN UDI LOCAL GOVERNMENT AREA OF  ENUGU STATE

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