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Abbrevia: J. Agric. Res Nat Resources.

Language: English

ISSN: ISSN 2315-6279

DOI: 10.14412/JARNR

 

 

  J. Agric. Res. Nat. Resour.      

  3(4): 160-174, July 2019


 
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Journal of Agricultural Research and Natural  Resources,

Vol. 3 (4), pp 160-174, July 2019

doi: 10.14412/JARNR2019.0174

(ISSN 2315-6279) 2019 Science Park Journals

 

Full Length Research Paper

ANALYSIS OF SAVINGS AND INVESTMENT PATTERN AMONG RURAL FARMING HOUSEHOLDS IN YEWA DIVISION, OGUN STATE, NIGERIA.

*1AKERELE, E. O.,  2AKERELE, E. F., 3ONASANYA A. S., 4AKOMOLEDE L.A.

1,2 Department of Agricultural Economics and Farm Management

3Department of Agricultural Extension and Rural Development

4Federal Institute of Forestry Research

Faculty of Agricultural Management and Rural Development College of Agricultural SciencesOlabisi Onabanjo University, Yewa Campus, Ayetoro Ogun State, Nigeria

 

ABSTRACT:

 

This study examined the analysis of savings and investment pattern among rural farming households in Yewa Division of Ogun State, Nigeria. The study was based on both primary and secondary data obtained in a cross-section of 120 farming households drawn by multi- stage random sampling. Results showed that majority of the farmers were basically males whose age bracket are between 31-40 years with a percentage of 44.2% who are mostly married (90.8%) and practiced Islam as their religion (52.5%). The percentage of those that were educated was (64.2%) and majority of these farmers had a farming experience of about 6-10 years which is (37.5%). The income level earned by these farmers was majorly between N20, 000.00–N40,000.00 which is approximately (50%) of the entire sampled households. The Regression Analysis of the determinants of savings among the respondents revealed an adjusted R2 value of 0.579 which implies that about 57.9% of the variation in dependent variable (Y) which is farm output is accounted for by the selection of socio-economic variables (X1-X8) included in the model. Evidence from the study shows that age, marital status and return on investment are statically significant in determining the investment pattern of the farmers in the survey area. It is therefore recommended that support should be given for the establishment of farm service centres reasonably close to the farmers, through which they may be able to gain access to modern inputs

 

Keyword: Determinants, Investment, Saving, Farming, Income


 

 

                    



 

 

This is an open access article published under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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