EFFECTS OF MICROCREDIT ACCESS, UTILIZATION AND REPAYMENT ON CATFISH PRODUCTION ENTERPRISES IN NIGERIA

  • 0 Review(s)

Product Category: Projects

Product Code: 00009164

No of Pages: 179

No of Chapters: 1-5

File Format: Microsoft Word

Price :

₦10000

  • $

ABSTRACT

 

The broad objective of this study was to examine the effects of microcredit access, utilization and repayment on catfish production enterprises in Benue State, Nigeria.  Multistage sampling technique was used in selecting respondents for the study. Thus, a total sample size of 300 catfish production enterprises was selected for this study. The study used descriptive statistics to examine and analyze objectives one, two, three and eight, respectively. Objectives four to seven utilized inferential statistics. The statistical techniques adopted were: frequency distributions, means and percentages to examine variables, multiple regression, logit regression, Structural Equation Modeling (SEM), stochastic frontier, analysis of variance (ANOVA), and likert scale. The study disclosed that, of the total sum of ₦ 39,189,185 microcredit accessed by catfish production enterprises; a huge sum of ₦ 28,582,422 was utilized in catfish production business. However, the utilization index for accessed microcredit was 0.73; this translates into 73% of utilized microcredit in the study area. In the case of microcredit repayment, a vast sum of ₦ 37,054,472 was repaid by catfish production enterprises. This implies that 94% of the total sum of ₦ 39,189,185 microcredit accessed by catfish production enterprises was repaid. SEM was used to test the relationship among the constructs; for the whole model, the statistical result shows that Chi-square value of 222, 091.25 was significant at 1%. Standard estimation of the full model of the three paths indicates significance for both Content Specific Factors and Social Factors respectively. Economic Factors however, was not significant even at 5% but was at 10% which is a bit far off for this study. The study concludes that, the coefficients agreed with the a priori expectation, which states that, a unit increase in microcredit access, utilization and repayment leads to a corresponding increase in catfish output in the study area. The Multiple coefficient of determination (R2) value is 0.960, which indicated that there is a very strong and significant relationship between the indicators. The results indicate that the calculated value of F-test at 1% level showed significant value of 10.45. Based on the findings of this study, catfish production enterprises should engage the office of the Director of Fisheries under the Benue State Ministry of Agriculture to enquire about skills in writing a feasibility study for their enterprises in order to access more microcredit from Bank of Industry (BOI) and Bank of Agriculture (BOA). The credit made available by sources of microcredit such as BOI, BOA, cooperatives, etc, to catfish production enterprise need to be increased so that the enterprise could make greater impact on fish production and economic growth of the Nation. Government should fund more microcredit institutions so that their interest rate would be reduced for catfish production enterprises to obtain credit with ease.




TABLE OF CONTENTS


Title Page                                                                                                                             i

Declaration                                                                                                                          ii

Certification                                                                                                                         iii

Dedication                                                                                                                            iv

Acknowledgement                                                                                                               v

Table of Contents                                                                                                                vi

List of Tables                                                                                                                       x

List of Figures                                                                                                                      xii

Abstract                                                                                                                                xiii

 

CHAPTER 1: INTRODUCTION

1.1       Background to the Study                                                                                            1              

1.2       Statement of the Problem                                                                                           5            

1.3       Research Questions                                                                                                    8           

1.4       Objectives of the Study                                                                                              9

1.5        Hypotheses of the Study                                                                                       9

1.6       Justification of the Study                                                                                           10

1.7       Scope and Delimitations of the Study                                                                       11        

     

CHAPTER 2:   REVIEW OF RELATED LITERATURE

2.1       Conceptual Framework                                                                                            13

2.1.1    Concept of microcredit                                                                                             13

2.1.2    Concept of production efficiency                                                                             22

2.2       Theoretical Framework                                                                                            26           

2.2.1    Theory of microcredit                                                                                               26

2.2.2    Credit theories of money                                                                                          28

2.2.3    Theory of production                                                                                                32

2.3       Empirical Review                                                                                                     34

2.3.1    Social, economic and demographic profile of catfish production                          34

2.3.2    Sources and amount of microcredit access in fish production                               35

2.3.3    Microcredit utilization and repayment in catfish production                                 36     

2.3.4    Determinants of loan repayment in fish production                                                 37

2.3.5    Efficiency in catfish production                                                                               38

2.3.6    Constraints to microcredit access by fishermen                                                       42

2.4       Analytical Framework                                                                                              43

2.4.1    Stochastic production frontier (SPF) analysis and efficiency                                   43

2.4.2    Logit model                                                                                                             50

2.4.3    Structural equation modeling (SEM)                                                                       53       

2.4.4    Multiple regression                                                                                                   54

2.4.5    Analysis of variance ANOVA                                                                                 54

2.4.6    Likert scale                                                                                                               56

2.5       Summary of Literature                                                                                             56


CHAPTER 3: METHODOLOGY

3.1       The Study Area                                                                                                        59            

3.2       Population of the Study                                                                                          61       

3.3       Sample Size Determination                                                                                      61

3.4       Method of Data Collection                                                                                       61          

3.5       Method of Data Analysis                                                                                          62

3.6       Model Specification                                                                                                 62

3.6.1    Objective one – descriptive statistics via averages                                               62

3.6.2    Objective two – averages and microcredit access index                                      63

3.6.3    Objective three – microcredit utilization and repayment index                           64

3.6.4    Objective four – multiple regression, logit regression and SEM                               64 

3.6.5    Objective five – multiple linear regression                                                            69

3.6.6    Objective six – stochastic frontier models                                                             70      

3.6.7    Objective seven – analysis of variance (ANOVA)                                                76

3.6.8    Objective eight – likert scale                                                                                             77


CHAPTER 4: RESULTS AND DISCUSSION 

4.1       Demographic and Economic Profile of Catfish Production Enterprises              78

4.2       Sources and Amount of Microcredit Accessed                                                      79

4.2.1    Microcredit access index                                                                                       81

4.3       Level of Microcredit Utilization and Repayment                                                  81

4.3.1    Microcredit utilization and repayment index                                                        82

4.4       Determinants of Microcredit Access, Utilization and Repayment                                83

4.4.1    Determinants of microcredit access via multiple regression model                                83

4.4.2    Determinants of microcredit utilization via logit model                                       85

4.4.3    Determinants of microcredit repayment via SEM                                                 87

4.5       Microcredit Variables’ Effect on Catfish Output                                                    106

4.6       Efficiency of Catfish Production Enterprises in Benue State                                107

4.6.1    Technical efficiency                                                                                              107                      

4.6.2    Allocative efficiency                                                                                             112

4.6.3    Profit efficiency                                                                                                116

4.7       Difference in Microcredit Access, Utilization and Repayment                      119

4.8       Constraints of Catfish Enterprises in the Study Area                                        122


CHAPTER 5: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1        Summary of Findings                                                                                  125

5.2       Conclusion                                                                                                         128

5.3       Recommendations                                                                                             131

5.4       Suggestion for Further Study                                                                            132

5.5       Contributions to Knowledge Made by this Study                                             133

References                                                                                                         135

Appendices                                                                                                        151

 

 

 

 

LIST OF TABLES 


4.1: Demographic and economic profile of catfish prod. enterprises (n=300)           78

4.2: Sources and amount of microcredit accessed (n=300)                                        80

4.3: Microcredit access index                                                                                     81

4.4: Level of microcredit utilization and repayment                                                              81

4.5: Microcredit utilization and repayment index                                                      82

4.6: Determinants of microcredit access using multiple regression (n=300)           84

4.7: Determinants of microcredit utilization using logit model (n=300)                          85

4.8: Collinearity statistics showing variance inflation factors (VIF)                         88

4.9: Heterotrait-monotrait (HTMT) ratio of correlations                                           89

4.10: Construct validity and reliability                                                                       91

4.11: Factor loadings                                                                                                  95

4.12: Fit measures                                                                                                       96

4.13: Path coefficients effect                                                                                      98

4.14: Regression results                                                                                                                                  103

4.15: f square                                                                                                                                                  104

4.16: Microcredit effects on catfish output (n=300)                                                                                       106

4.17: Stochastic production frontier translog model and inefficiency (n=300)           108

4.18: Technical efficiency distribution among catfish farms                                                 111

4.19: Stochastic cost frontier translog model and inefficiency (n=300)                  113

4.20: Allocative efficiency distribution among catfish farms                                    114

4.21: Stochastic profit frontier translog model and inefficiency (n=300)                116

4.22: Profit efficiency distribution among catfish farms                                            118

4.23: ANOVA results of microcredit activities                                                          120

4.24: Comparison of scores by microcredit activities                                                121

4.25: Microcredit challenges affecting catfish production enterprises                         122

4.26: Component factor analysis for civil service performance                                 124

 

 

 

 

 

 

 

LIST OF FIGURES


3.1: Geographical map of Benue State                                                                             51 

4.1: Sources and mean values of microcredit accessed in Naira                                      80 

4.2: Average microcredit access, utilization and repayment index                                  83

4.3: Heterotrait-monotrait ratio (HTMT)                                                                         90 

4.4: Average variance extracted (AVE)                                                                           92

4.5: Cronbach’s alpha                                                                                                       93

4.6: Composite reliability                                                                                                 94

4.7: Path coefficients                                                                                                        98

4.8: Permutation algorithm for content specific factors and repayment                        99

4.9: Permutation algorithm for economic factors and repayment                                    100

4.10: Permutation algorithm for social factors and repayment                                        100

4.11: Path coefficients                                                                                                      102

4.12: f Square                                                                                                                    104

4.13: T statistic values                                                                                                      105

4.14: Technical efficiency estimates                                                                                111

4.15: Allocative efficiency estimates                                                                               115

4.16: Profit efficiency estimates                                                                                       119

 






 

                                                        CHAPTER 1

                                                  INTRODUCTION


1.1       BACKGROUND TO THE STUDY                                    

Microcredit is a loan granted to micro-enterprises, such as peasant farmers, artisans, fishermen, youths, women, senior citizens and non-salaried workers in the formal and informal sectors; the loans are usually unsecured, but typically granted on the basis of the  applicant’s character and the combined cash flow of the business and household (Central Bank of Nigeria (CBN), 2012). Microcredit is very essential to catfish production enterprises and farmers, who are mostly unable to meet the collateral requirements of formal financial institutions (UNIDO, 2010).

 

In the wake of a looming global food crisis, Nigeria is not isolated; more emphasis is now being placed on increased domestic supplies (Emokaro and Ekunwe, 2009). Catfish is the most commonly cultivated species of fish because of its superior market value (FAO, 2012). According to the Aquaculture and Inland Fisheries Project (AIFP) of the National Special Program for Food Security (NSPFS), Benue State has the highest number of catfish farms compared to other Northern States in Nigeria (Benue State Ministry of Agriculture, 2018; FAO, 2007a; FAO, 2007b). In agreement, the Director of Fisheries, Ministry of Agriculture, Benue State, confirmed that the State has more than 300 catfish farmers (Benue State Ministry of Agriculture, 2018). In order to boost fish production in Benue State, the Federal Government made available inputs such as juveniles and 50 percent subsidized standard fish feeds of 15 kilogrammes at N12, 500 to fish production enterprises in 2013 after the 2012 flood (Abah, 2014). In 2016 catfish farmers benefited from the provision of collapsible tanks (tarpaulin tanks) and in June, 2017, the Federal Ministry of Agriculture, through the Department of Fisheries distributed about 400, 000 fingerlings which were stocked at Akata in Katsina-Ala Local Government Area of Benue State (Benue State Ministry of Agriculture, 2018). The condition of catfish production in Benue State is influenced by microcredit access, utilization and repayment.

 

Access to microcredit is pertinent for transforming a developing country like Nigeria (Norton, Alwang and William, 2010). Access to microcredit by agribusiness managers leads to increased productivity and income (Tijani, 2011). However, microcredit availability is influenced by determinants of microcredit access such as sources of microcredit, amount of microcredit obtained by the catfish production enterprise and rationing in rural credit markets.

 

Microcredit sources such as Bank of Agriculture (BOA), Bank of Industry (BOI), commercial banks, microfinance or community banks, cooperative societies, private money lenders, family and friends and owner savings are necessary for high performance of catfish production business. Catfish producers can obtain loans from such microcredit sources close to them. In Benue State, fish cooperatives are trying to formally register themselves in order to source microcredit from BOA and BOI (Benue State Ministry of Agriculture, 2018). Furthermore, taking a look at available credit sources in both the formal and informal credit sector, it has been discovered that though, credit is important for sustainable agricultural development, there still exists a gap between its demand and supply as induced by certain constraints (Adebayo and Adeola, 2008). According to the Director of Fisheries, only crop producers enjoy source of credit such as anchor borrowers’ scheme. An anchor borrower scheme will soon be in the pipeline for fish producers to access microcredit in Benue State (Benue State Ministry of Agriculture, 2018). However, the amount or level of microcredit accessed determines the depth of investment within the catfish production enterprise.

 

The amount accessed for catfish production is one of the major factors influencing rapid economic development. Amount of microcredit invested also has the capacity to transmit the benefits of growth more rapidly and more equitably, through the informal sector (UNIDO, 2010). Access to investment funds through microcredit is critical to lifting small scale farmers above the subsistence level and enable the catfish producer cushion his/her business against risks. Access to microcredit and amount invested is more of a supply-side issue related to the potential lender’s choice of the maximum credit limit (Diagne, 1999). However, the amount or level of investment as a result of accessibility to microcredit is affected by certain variables such as rationing in credit markets (Weber and Musshroff, 2012).

 

Microcredit utilization ensures that catfish production business employs inputs such as labour, land, fingerlings and standard feeds judiciously. Microcredit aids catfish producers to plough in more investment fund which is likely to bring in high returns. The need for microcredit is relevant for catfish production, income and wealth generation (Afolabi, 2010; Mbam, 2017). Technical and allocative efficiencies of catfish production business depend largely on the judicious utilization of microcredit obtained. Microcredit enables catfish producers to purchase the inputs they need to increase their productivity, as well as finance a range of activities, thereby, adding value to catfish output (Nosiru, 2010). Resources are scarce and catfish production requires the judicious or efficient utilization of resources to avoid wastage and loss (Awoniyi and Omonona, 2006). However, profit needs to be realized through proper utilization of microcredit accessed in order for the catfish producer to pay back borrowed credit. This is feasible, especially for mangers with the experience and access to microcredit. Repayment of microcredit by catfish farmers is more compared to crop farmers in Benue State due to the incidence of threats such as floods, herdsmen challenges, and crop loss (Benue State Ministry of Agriculture, 2018).  

In the case of repayment of microcredit loans, banks do not lend to poor groups due to fear of non-repayment and increase in their non-performing assets (Kohansal and Mansoori, 2009; Weber, Mubhoff and Petrick, 2014). Lenders can evaluate whether or not direct financing of producers or indirect financing of their suppliers or buyers, is most appropriate (Coon, Campion and Wenner, 2010). Various factors influence the repayment performance of borrowers in rural markets such as farming experience, income of borrower, loan size, value of collateral offered as security, interest rate, total application costs and number of installments to repay loan (Kohansal and Mansoori, 2009). However, the classification of factors affecting repayment schedules is divided into three broad categories, namely: social factors; economic factors; and contract-specific factors. These factors and other constraints determine continuity in the catfish production business.

Constraints are vital forces that catfish producers must take notice of in order to remain in business. The constraints are usually inherent in the environment where the catfish business is operated. Examples of constraints include but are not limited to the following: high interest rates, bureaucratic bottlenecks, late approval, guarantor, collateral, no banks in the locality, defaulting in payment, lack of awareness, sentiments, and inadequate credit. It is against this backdrop that this study set out to examine the effects of microcredit access, utilization and repayment on catfish production in Benue State.


1.2       STATEMENT OF THE PROBLEM                                 

According to the Fisheries Department of Benue State Ministry of Agriculture (2018), the problems faced by catfish producers includes, absence of banks in the locality, high interest rate, bureaucratic bottlenecks, late approval of loan request, amount of credit given is too small, collateral request by lenders, negotiating produce before production, sentiments, delay in loan repayment and lack of awareness regarding microcredit policies and accessibilities. With the various programmes (such as Bank of Industry (BOI), Bank of Agriculture (BOA), CBN Anchor Programmes, etc.) channeled towards reducing microcredit challenges, small scale producers are still faced with issues such as inability to access formal credit (Abdelateif and Sayed, 2015).

 

Inability to access formal credit remains one of the most restrictive problems facing small scale producers (Abdelateif and Bauer, 2013). This has forced small scale producers to sometimes seek capital from relatives, friends and money lenders which are ineffective in providing capital needs especially in agricultural investment. Similarly, the private money lenders are interested more in earning high interest or taking hold of the debtor’s property rather than financing people in need. Therefore, microcredit institutions that offered formal credit to the poor provide hope for the farmers in terms of loan amount and interest rate charged (Alufohai, 2006).  Thompson & Mafimisebi (2014) reported that over 87% of farmers did not have any access to credit among the catfish aquaculture in Nigeria. This is not too far from the assertions by, Olaoye, Ogunremi, Ojebiyi, Ojelade, Shopade and Opele (2017) that the lack of group formation among fish producers affected the access to credit and information by owners.

 

Fish producers are yet to form cooperatives that would champion the affairs of members; however, formation of fish associations that would reduce inability to access microcredit is in progress (Benue State Ministry of Agriculture, 2018). Fish farmers in Benue State faced challenges of producing fish in commercial quantity. This became difficult when, the Growth Enhancement Support Scheme (GESC) introduced by the Goodluck Jonathan administration favoured mostly crop farmers by providing for example, seeds and fertilizers at subsidized rates; in the process fish farmers were neglected in the State (Benue State Ministry of Agriculture, 2018). In Benue State, the anchor borrowers’ scheme favours crop production enterprises except fish producers; this reduced the probability of catfish production businesses gaining access to microcredit (Abah, 2014). Individual borrowers who owned catfish production businesses were not able to access microcredit of more than N250, 000 from BOA and BOI; highly educated catfish farmers who could write good feasibility proposals for their production businesses were able to access a million Naira (Benue State Ministry of Agriculture, 2018). Without collateral, BOA and BOI send in their experts to verify claims made on paper by the prospective catfish production business; qualified applicants are then granted credit for their businesses.

 

Government has tried to enhance the availability of microcredit with the provision of BOI, BOA and various community or microfinance banks within the Country. Government also gives support to catfish farmers to form co-operative societies in order to improve their financial base, but despite these efforts, at both Federal and State levels, microcredit access and utilization are still not feasible (Sampou, 2006). Even with this impressive zeal of Government, catfish production enterprises continue to experience capital inadequacy due to high rate of loan default (Edet, Atairet, Nkeme and Udoh, 2014). In order to solve the problem of financial constraint, the problem of high default risk associated with farmers, which made the financial institutes reluctant to extend loan, has to be solved (Gebeyehu and Assefa, 2004). Default in repayment of microcredit could be linked to loan diversion into other activities not associated with the enterprise in question.

 

Some catfish producers engage in loan diversion for other purposes leading to poor utilization of borrowed microcredit (Benue State Ministry of Agriculture, 2018). This increases the suspicion by formal financial institutions as regards agricultural producers. Support from informal borrowers is vital, however, they charge very high interest rates within a very short period of time; studies (Afolabi, 2010; Adegbite, 2009; Oni, Oladele and Oyewole, 2005), indicate that small holder loan schemes in Nigeria have high rate of loan default. Some studies, (Oboh and Kushwaha, 2009; Alade, Ajayi, Enendu and Idowu, 2003) credited it to fund diversion, poor marketing opportunities, low pricing of products, low yield and negative attitude of farmers towards government owned credit, interest rate problem, inadequate loan volume, loan diversion as well as unprofitable interest rate (Edet et al. 2014). These studies, however are flawed because they concentrate on the catfish farmers’ socio-economic features in association with his/her part-time fish production business.   

 

Much work has not been done as regards the economic and demographic profiles of catfish production enterprises. However, many research has been carried out as regards socio-economic features of catfish farmers in Benue State and Nigeria (Folayan and Folayan, 2017; Akarue and Aregbor, 2015) as a whole. Studies such as Sampou (2006), highlighted the problems of microcredit acquisition and utilization among small-scale fish farmers neglecting the repayment aspect. From observation, this study found out that little works on microcredit access, utilization and repayment in Benue State in particular exists. This review brings out the gap in Literature which this study tried to examine.


1.3       RESEARCH QUESTIONS                                                  

In line with the above problem statement, the following research questions were considered.

      i.         What is the demographic and economic profile of catfish production enterprises in Benue State?

     ii.         How important are the sources and amount of microcredit accessed by catfish production enterprises?

   iii.         What is the level of microcredit utilization and repayment by catfish production enterprises?

   iv.         How important are the determinants of microcredit access, utilization and repayment by catfish production enterprises?

     v.         What are the effects of microcredit access, utilization and repayment on output of catfish production enterprises?

   vi.         What is the efficiency of catfish production enterprise in Benue State?

  vii.         What are the differences in microcredit access, utilization and repayment by catfish production enterprises?

viii.         What are the constraints to microcredit access, utilization and repayment by catfish production enterprises in Benue State?


1.4       OBJECTIVES OF THE STUDY                                        

The broad objective of this study was to examine the effects of microcredit access, utilization and repayment on catfish production enterprises in Benue State, Nigeria. The specific objectives were to:

      i.         describe the demographic and economic profile of catfish production enterprises in Benue State;

     ii.         examine the sources and amount of microcredit accessed by catfish production enterprises;

   iii.         analyze the level of microcredit utilization and repayment by catfish production enterprises;

   iv.         analyze the determinants of microcredit access, utilization and repayment by catfish production enterprises;

     v.         determine the effect of microcredit access, utilization and repayment on output of catfish production enterprises;

   vi.         analyze the efficiency of catfish production enterprise in Benue State;

  vii.         determine the differences in microcredit access, utilization and repayment by catfish production enterprises; and

viii.         identify constraints to microcredit access, utilization and repayment by catfish production enterprises in Benue State

 

1.6        HYPOTHESES OF THE STUDY

H01:    Determinants of microcredit access, utilization and repayment do not have          significant effect on catfish production enterprises;

H02:    Microcredit access, utilization and repayment do not have significant effect on    output of catfish production enterprises

H03:    Inefficiency effects are absent from catfish production enterprises in Benue          State

H04:    Microcredit access, utilization and repayment by catfish production enterprises            are not significantly different

 

1.6       JUSTIFICATION OF THE STUDY                                  

Little study has been undertaken to examine the effects of microcredit access, utilization and repayment on catfish production in Benue State. Catfish production enterprises are characterized by low investment outlay and therefore are unable to repay loan or credit extended to them (Abdelateif and Bauer, 2013). Expansion and sustainability of their enterprises depend to a large extent on microcredit access, utilization and repayment, given good management. In order to survive, the catfish production enterprise needs to obtain credit from microcredit finance institution. Some agricultural microcredit lending institutions that have a firmer or stronger presence at the rural areas of Benue State are: BOA, BOI, Nigeria Agricultural Co-operative and Rural Development Bank (NACRDB), private American non-profit organization (PFD), co-operative societies and Local Bam. Benue State is blessed with a loamy-clay soil that is very suitable for catfish production. The ability of the soil to retain water is very vital for entrepreneurs who want to engage in earthen pond and other forms of catfish farming in the study area. Moreso, the State is number one when it comes to fish farming in Northern Nigeria (FAO, 2007a; FAO, 2007b). It is from the foregoing backdrop that this study is justified and will be useful in numerous ways.

 

The findings of this study would provide useful information on the effect of microcredit access, utilization and repayment on the catfish production enterprises and their level of operation to meet productivity and income. This study will be beneficial to entrepreneurs intending to invest in catfish production in the study area. The study will help managers of catfish enterprises to reduce diversion of funds to the minimum.

 

Entrepreneurs wishing to go into catfish production business will be guided by the study to take decisions as regards available microcredit for catfish production in the study area. Thus, the entrepreneur will have knowledge of microcredit sources, access, utilization and repayment, thereby, reducing shocks from the environment that could discourage continuity in the business.     

 

The outcomes of this study will proactively spur government policy makers to formulate realistic investment policies that are likely to enhance catfish production in Benue State, Nigeria. Awareness of the effect of microcredit access, utilization and repayment on catfish production business is pertinent in the academics. Finally, the study would further contribute to the body of knowledge, fill the gap in the existing literature and be a useful source of information for future research regarding this subject matter, in the study area most especially.

 

 

1.7       SCOPE AND DELIMITATIONS OF THE STUDY        

This study gives priority to the production of cultured catfish. This aspect involves growing up fingerlings until they reach the maturity stage of harvest taking into consideration the investment role played by the entrepreneur. Primary data of catfish production for the year 2017 was relied upon. The study covered catfish producers who specialize in concrete, earthen, tarpaulin and fiber or plastic systems of catfish production in Benue State. The study highlighted three microcredit activities (i.e., access, utilization and repayment) which where the main focus of credit activities for this study.

The study was limited to only microcredit and not microfinance as a subject matter. In the case of microcredit, borrowed funds from lenders (i.e., Bank of Agriculture (BOA), Bank of Industry (BOI), commercial banks, microfinance or community banks, cooperative societies, private money lenders, family and friends and owner savings) were mirrored upon. In this regard, microcredit is a subset of microfinance. Microfinance which this study does not take congnisance of, is a universal set that includes microcredit activities, insurance, capital instruments such as stocks, shares, debentures, bonds, etc.

It is important to state here that, this study cannot be generalized for Nigeria as a whole because determinants of factors responsible for microcredit activities such as access, utilization and repayment of borrowed loans in Benue State, might be different compared to other States in the country.

This study is also limited to the examination of the catfish enterprise as a business entity. Thus, issues surrounding the socio-economic activities of the catfish farmer/manager and their entire household were not of interest.

 


Click “DOWNLOAD NOW” below to get the complete Projects

FOR QUICK HELP CHAT WITH US NOW!

+(234) 0814 780 1594

Buyers has the right to create dispute within seven (7) days of purchase for 100% refund request when you experience issue with the file received. 

Dispute can only be created when you receive a corrupt file, a wrong file or irregularities in the table of contents and content of the file you received. 

ProjectShelve.com shall either provide the appropriate file within 48hrs or send refund excluding your bank transaction charges. Term and Conditions are applied.

Buyers are expected to confirm that the material you are paying for is available on our website ProjectShelve.com and you have selected the right material, you have also gone through the preliminary pages and it interests you before payment. DO NOT MAKE BANK PAYMENT IF YOUR TOPIC IS NOT ON THE WEBSITE.

In case of payment for a material not available on ProjectShelve.com, the management of ProjectShelve.com has the right to keep your money until you send a topic that is available on our website within 48 hours.

You cannot change topic after receiving material of the topic you ordered and paid for.

Ratings & Reviews

0.0

No Review Found.


To Review


To Comment