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ANALYSIS OF DETERMINANT FACTORS TO LOAN REPAYMENT AMONG BROILER FARMERS IN ENUGU STATE, NIGERIA
Abstract— Analysis of loan repayment among rice farmers in Enugu State, Nigeria was studied using one hundred and eighty respondents. These respondents were selected using multi stage sampling procedure and purposive selection procedure. The objectives of the study were to describe the socio-economic characteristics of the broiler farmers, identify the various broiler management practices the farmers put their credit into, assess the determinant factors influencin loan repayments among the farmers and identify the constraints to loan repayment by the farmers in the study area. Structured questionnaire was used to collect information for the study. Data collected were analyzed using descriptive such as frequency distribution table and percentage responses, inferential statistics such as Logit model and factor analysis. The results of the study indicated that the sampled farmers were youthful, females, married, and had large household size and farming experience of above 11 years. Also, microfinance and commercial banks were the major sources of credit to the farmers. In addition, the major uses the credit was put into by the farmers were in purchasing feeds and buying of drugs and vaccines. The determinant factors to rice farmers’ loan repayment ability were household size, extension services, membership of organization, farming experience, educational level and off-farm income. The constraints to the farmers’ ability to repay their loan were high interest rate, low productivity, high collateral, poor loan assessment and changes in bank policy changes. The need to enhance the farmers’ access to training, off- farm income and the need to give rebate to farmers that repay their loans at appropriate time were recommended.
Keywords— Analysis, Loan, Repayment, Broiler, Farmers, Enugu State, Nigeria.