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IMPACT OF COOPERATIVE LOAN ON FOOD CROP PRODUCTION IN YEWA DIVISION OF OGUN STATE, NIGERIA
Abstract
The study examines the impact of cooperative loan on food crop production in Yewa Division of Ogun State, Nigeria. This stage involves the random selection of twenty farmers in each of the six communities making a total of 120 respondents. Both primary and secondary data were used for the study. Descriptive and inferential statistics were also used to analyze the data collected. The result of the descriptive analysis reported that majority of the farmers were married having age group between 40-49 years About 41.7% had secondary education with household size below 5 members. The major constraint confronting the farmers is lack of access to credit which responsible for their inability to provide needed capital for production. The Ordinary Least Square (OLS) result revealed that age, farming experience and credit size were variables affecting productivity of the farmers having adjusted variability R-square of 69%. Credits enhance farmer’s production, which was reflected in their high farm output. It is, therefore, recommended that farmers needs to be encouraged to join saving and credit self-help groups facilitate easy access to credit and also educate the farmers on loan utilization in order to improve their accessibility and profitable of credit use.
Keywords: cooperative, loan, production, profitability, capital