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EVALUATION OF THE OPERATIONAL PERFORMANCE OF THE NIGERIAN AGRICULTURAL CREDIT

COOPERATIVE AND RURAL DEVELOPMENT BANK (NACRDB) IN SOUTH-WESTERN NIGERIA

Abstract: This study examined the performance of small-scale farmers in Nigerian Agricultural Cooperative and Rural Development Bank (NACRDB), in terms of repayment in Oyo and Ondo States. A multistage sampling procedure was used to select 300 respondents using both primary and secondary data to accomplish the objectives. The Tobit regression results on loan repayment of Log-likelihood function (17.99385) showed that farm experience, farm location, cost of obtaining loan, visitation, borrowing frequency and education with normalized coefficients of –0.0285, -0.0661, -0.1196E-04 0.1048, 0.0518 and 0.0112 respectively were very important factors in determining the repayment performance of the beneficiaries in  the institution. The study showed that the institutions considered were characterised by untimely delivery of loan owing to complicated, cumbersome and time-consuming procedures in loan processing/approval decision. The decomposition of repayment elasticities employed in this study indicated that the elasticity of value of loan repaid in good times was more than the elasticity of probability of repayment since the amount of loan size recovered has a long way to go in enhancing the lending capabilities of the institutions. The results of the study therefore provided a baseline data for policy formulation needed to facilitate accessibility of farmers to agricultural loans and enhance loan repayment performance.

Keywords: Tobit, Decomposition, Decision, NACRDB, Credit.