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Financing of Organic Farming Activities Among Vegetable Farmers in Onitsha Agricultural Zone Southeast Zone, Nigeria
Current Issue
Volume 3, 2015
Issue 6 (December)
Pages: 213-217   |   Vol. 3, No. 6, December 2015   |   Follow on         
Paper in PDF Downloads: 53   Since Oct. 24, 2015 Views: 1093   Since Oct. 24, 2015
Authors
[1]
Ugbajah M. O., Department of Agricultural Economics & Extension, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria.
[2]
Sand Chidebelu, Department of Agricultural Economics, University of Nigeria, Nsukka, Nigeria.
[3]
C. O. Uzuegbunam, Department of Agricultural Economics & Extension, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria.
[4]
E. N. Azifuaku, Department of Agricultural Economics & Extension, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Nigeria.
Abstract
The study investigated financing of organic farming among small scale vegetable farmers in Onitsha L.G.A of Anambra state, Nigeria. Data for the study was obtained through structured questionnaire. Multistage random sampling technique was used to select 80 respondents used for the study. The statistical tools including frequency counts, percentages, means, ranking and likert scale were deployed for data analysis. Majority 78% of the respondents were females, and 58% had above 11 years of farming experience, the mean annual income of the farmers was ₦ 76,400, 44% financed their enterprise through personal savings, majority 50% received between ₦ 30,000 - ₦ 50,000 loan, the most severe constraint to organic farming was poor output from agricultural investment, reinvestment of part of loan, unexpected expenditure at loan repayment period, lack of collateral. While constraints to credit demand include late disbursement of loan, high interest rate, lack of awareness of fund among others. The vegetable farmers in the area would be encouraged by the government and financial institutions through policies geared towards elimination of bottle necks, timely release of credit/loan, interest free loans/credit, involving the organic farmers in policy formulations that encourage the use of organic practices in agricultural productions.
Keywords
Environment, Conservation, Green Agriculture, Finance, Food Security Food Supply
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