© Global Journal Of Agricultural Sciences . 2007. Vol. 6 No. 2
Publisher: Bachudo Science Co. Ltd
Sources of Finance To Agricultural Sector In Edo South Senatorial District of Edo State, Nigeria
K. O. Ilavbarhe, J. Ahmadu
KEYWORDS: Sources, problems, finance. agnculture and Edo South
ABSTRACT:The study focused on sources of finance to the agricultural sector with particular reference to Edo South Senatanal District. Data were collected using well~structured questionnaires administered to one hundred (100) randomly selected famers from the district. Simple descriptive statistics and t-test were used for data analysis. The result revealed that formal and informall financial institutions are the sources of fund available to farmers in the study area. The formal financial sources were found to besignificantly more efficient as they contributed 69. 13% of the total fund to the tanners while the informal financial sources contributed only 30.87%. However, a majority of the tanners (88%) patronized the informal sources and only few farmers (12%) patronized the fom,al sources. the reason adduced for this was the difficulties of getting loan from the formal sources. In view of this, it is suggested that the formal financial institutions should simplify their cumbersome method of loan disbursement.
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