Effects of Loan on Poultry Egg Production in Ado Odo Local Government Area of Ogun State, Nigeria
Author(s)
Akerele E. O. , OLAOSUN C. O , ILORI, A. R ,
Download Full PDF Pages: 10-21 | Views: 75 | Downloads: 24 | DOI: 10.5281/zenodo.11408916
Abstract
The study assessed effect of loan on poultry egg production in Ado-Odo Local Government Area, Ogun State, Nigeria. Simple random sampling technique was used for the study. An informal enquiry conducted in the area priori to this formal research revealed that the dominant poultry farmers’ association in the study area is Poultry Association of Ogun State (PANOG). Data were collected through structural questionnaires and eighty (80) of respondents were randomly selected for the study. The data were analyzed using descriptive statistics and inferential statistics. It was revealed that majority of the respondents (82.5%) were male while (17.5%) were female, and majority of the poultry farmers in the area were formally educated to the tertiary level which gives the impression that they are well educated thereby, making them to have high level of skill acquisition for the success of their business. Logit regression model was employed to estimate the level of accessibility to loan by the poultry farmers. Analysis of the factors determining the level of loan accessibility result revealed that the coefficients of the Logit regression analysis are positive and significant at 1% except for the coefficients of household size, educational attainment, loan received and interest paid which were not significant. An analysis of the problems revealed that all (100.0%) of the sampled poultry farmers claimed that they face the problem of inadequate fund and capital, pilferage and theft, diseases, unbearable cost of feeding, unstable power supply while the majority (48.8%) claimed that they experience the problem of inadequate fund and capital. This implies all the aforementioned problem (inadequate fund and capital, pilferage and theft, diseases, unbearable cost of feeding, unstable power supply) constitute problems militating against poultry farming in the study area. Arising from the findings of the study, it is concluded that, majority of the poultry farmers were engaged in farming activities as their main occupation and had less than 6 years experience in poultry farming. Cooperative societies top the list of non- personal source of finance being used in funding the poultry farming business. The study therefore recommended that Government should provide equitable loan facilities to all the poultry farmers and this will enhance the growth and development of the poultry farms, and will also increase their means of livelihood
Keywords
Loan, Poultry, Business, Farming, Income
References
Amos, T.T (2006): “Analysis of Backyard poultry production in Ondo State, Nigeria” in International Journal of Poultry Science. 5 (3): 247 – 250.
Atteh, J.O. (2004): Theory and practice of poultry production Aldex printers 139-145.
Bamiro, O.M., and Shittu A. M. and A. S. Kola-Olukotun (2001). Private feed production as a cost reduction 2001 strategy: Effects on Profitability of poultry business in Ogun State, Nigeria, The Ogun State Journal of Agricultural Sciences, 1: 37 – 51.
Central Bank of Nigeria (CBN, 2004): Annual Report and Statement of Accounts. CBN Publications.
FRN. 2000. Federal republic of Nigeria: Obasanjo’s Economic Direction 1999-2003 pp. 15-18.
Layman D.K. and Rodriguez N.R. (2009). Egg protein as a source of power, strength and energy. Nutrition Today, 44(1) : 43-48.
Mahmood A.N., Khalid M., and Kouser S. (2009). The Role of Agricultural Loan in the Growth of Livestock Sector: A Case Study of Faisalabad. Pak. Vet. J. 29: 81-84.
Oboth G.A.T (2003). Financing Poultry Production in Nigeria: The Role of Commercial Banks. The Publication of Poultry Association of Nigeria, Ogun State Chapter. p.37
Odiase – Alegimhen, O.A (2004): Impact of Capital/Investment, Technology and other factors on Economics Development of Nigeria. Journal of Sustainable Development in Africa, Vol. 6(1), Pp. 1-13.
Okoli I.C, Anyaegbunam CN, Etuk EB, Uchegbu MC, and Udedibie AB (2004): Socio- economic characteristics of poultry business entrepreneurs in Imo State, Nigeria. Journal of Agriculture and Social Research. 2004; 4(2).
Okuneye, P.A. (2000) ‘Rising Cost of Food Prices and Food Insecurity in Nigeria and its Implication for Poverty Reduction’, CBN Economic and Financial Review, Vol. 39(4), pp. 31-43.
Oladeebo J.O, and Oladeebo OE (2008). Determinants of Loan Repayment among Smaller holder Farmers in Ogbomosho Agricultural Zone of Oyo State, Nigeria. Journal. Soc. Sci. 2008; 17(1) 59-62.
Oludimu O.L, Awojobi A.A, Akanni K.A (2004). Analysis of Poultry Insurance and Risk Management in Ogun State, Nigeria. Journal of Agricultural Management and Rural Development (JAMARD). 1:64-84.
Oludimu, O.L and Y. L. Fabiyi, (1983): The mobilization of credit for Agricultural Development in Anambra State, Nigeria. Savings and Development 4(4): 120-122.
Omonona B.T, Lawal J.O, Onilana A.O (2010): Determinants of Loan Constraint Conditions and efficiency among farming households in South-western Nigeria. Contribution paper presented at the joint 3 rd African association of Agricultural Economists ( AAAE) and 48 th agricultural economists association of South Africa (AEASA) conference, Cape Town, South Africa. September 19-23.
Cite this Article: