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ASSESSMENT OF COOPERATIVE SOCIETIES’ EFFECTIVENESS IN CREDIT DELIVERY FOR AGRICULTURAL ENTERPRISES IN BENIN
METROPOLIS, EDO STATE, NIGERIA
The study assessed the effectiveness of agricultural cooperative societies in credit delivery to members in Benin metropolis of Edo State, Nigeria. The specific objectives were to describe the socio-economic characteristic of small-scale farmers, determine the effectiveness of the cooperatives in credit delivery to members, determined to what extent the co-operatives have benefited members in financing their investments; and identified the challenges militating against the role of cooperatives in the provision of credit facilities to its members. The study used a multi-stage random sampling technique to select 120 respondents from 20 agricultural cooperative societies in the Benin metropolis. The data collected were analyzed using simple descriptive statistics and the Queue model. In terms of effectiveness of credit delivery, findings revealed that majority of the cooperatives studied were not effective in credit delivery as reflected by the queue model employed. With respect to cooperatives financing of members’ investments, computed mean average indicates that majority were of the view that cooperatives have benefited members in financing their investments. However, there is room for improvement because the approval rate was 4.23, the overall idle time was 0.13 and the traffic intensity was 1.132 instead of 1. The major constraints militating against cooperative societies’ effectiveness were low loan repayment and embezzlement of funds (poor management of funds) with respective means of 2.66 and 2.64. Based on the findings, it was recommended that any policy that will improve proper management of funds and higher loan repayment will improve the managerial ability of the cooperative management and increase the approval rate to 100 percent and the idle time to zero.
KEYWORDS: Effectiveness, credit delivery and agricultural enterprise