International records / OpenAlex research

An analysis of farmers access to formal credit in the rural areas of Nigeria

This study examines the factors that influence farmers access to formal banking credit in the rural areas of Nigeria. The data used was collected from rural areas of Katsina State. This study used probit modelling approach to analyse the factors that influence farmers’ accessibility to formal credit. This study found that the level of income, collateral, educational attainment and marital status have significant positive influence on farmers’ access to formal credit, while age and sex have insignificant positive influence on the farmers’ access to credit. On the other hand, interest rate and t…