| Author's Name: |
TIBI, K.N. AND EDEBIRI F. |
| Subject Area: |
Social Science and Humanities |
| Subject |
Agricultural |
| Section |
Research Paper |
Keyword:
Poverty farmers, social economical characteristics of the respondents, poverty in Ethiope East Local Government Area, Delta State.
Abstract
The study was carried out to examine access to microcredit in alleviating poverty among farmers in Ethiope East Local Government Area of Delta State. Data were collected through primary and secondary sources. Primary source was through structure questionnaire and personal interview while the secondary source was through textbooks, journals, magazines an internet sources. Seven (7) Town were randomly selected from the study area. In each of the selected towns ten (10) respondents were randomly selected to make a sample size of 70. Data obtained from the study were presented with simple descriptive statistics such as means and frequency table. The hypothesis was tested with chi-square analysis. Result of the study showed that there were more males (67%) than females (33%) with majority of them within the age of 41years to 50years (69%). About 89% of the respondents were married. The remaining 7% and 4% were widows and single respectively. The study also revealed that majority of the respondents receive loan from co-operative societies while few respondents received from banks. The amount ranges from N50, 000 to N500, 000 and above. The study further showed that interest rate vary from 5% to 10% and 11 to 15% per annum for most cooperative societies while for the banks money lenders it vary from 16 – 30%. Duration of loan repayment is mainly within one year. The result of the chi-square analysis showed that there is a significance relationship between the microcredit accessed by farmers and poverty alleviation in Ethiope East Local Government Area of Delta State. Farmers in Ethiope East Local Government Area have access to loan from personal savings, family cooperative societies, banks and money lenders. However majority of them obtain loan mainly through personal savings/family and cooperative sources, although the accessibility of the microcredit is limited by collateral, interest rate, Banks bureaucracy, delay application approval among other the microcredit obtained were beneficial to the farmers in alleviating poverty in the study area.