Analysis Of Rural Farming Households’ Access To Credit In Kwara State, Nigeria

Analysis of Rural Farming Households’ Access to Credit in Kwara State, Nigeria. By KB Olatinwo, A Muhammad-Lawal, Buremoh S. Ayojide on Facebook, On Twitter and on Linkedin.
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Abstract
Agricultural credit has been identified as an important component in the development of the agricultural sector in Nigeria. Though, agricultural credit has the potentials of improved capital formation, increased resource productivity and diversified agriculture among the rural farming households, inadequate access to agricultural credit is among major factors responsible for the decline in the contribution of agriculture to Nigerian economy.
This study therefore examined various sources of credit available to the farmers in Kwara state, Nigeria.
It also analyzed the determinants of access to agricultural credit among the farming households.
A two-stage random sampling technique was used to select a sample of 90 farming households as respondents.
The respondents were interviewed with the aid of well structured questionnaire.
The data obtained were analyzed using descriptive statistics and Ordinary Least Square regression analysis.
 The study showed that co-operative societies, personal savings and rotary loan scheme ‘esusu’ were
 the regularly accessible sources of credit.
The study also showed that interest rate, type of agricultural enterprise and size of farm had significant relationship with the farmers’ access to credit.
Lack of collateral security was also identified as a major problem faced by farmers in accessing loans. It is therefore recommended that the formation of co-operative societies should be encouraged among farmers.

Also, government should adopt policies that would encourage the formal credit institutions to grant soft loan for agricultural production.
KEYWORDS: Rural Households, Cooperative, Constraints, Credit, Kwara State Available at http://www.ajol.info/index.php/jafs/article/view/86850
Journal of Agriculture and Food Sciences.   ISSN: 1597-1074
Also available on Semantic Scholar at https://www.semanticscholar.org/paper/Analysis-of-Rural-Farming-Households%E2%80%99-Access-to-in-Olatinwo-Muhammad-Lawal/5bf133362e48341abaf49c5b4fc83259d45a3c20

• DOI:10.4314/jafs.v10i2.5
Corpus ID: 154477472

Kb Olatinwo, Azeez Muhammad-Lawal, Ayojide Stephen Buremoh

Published 2013, Economics. Download Free Here

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5 Quotes And Characteristics Of Successful Investors (Part 1)

Business is a game; so also is investing. Are you a trader or investor? Have you ever wished you were an investment whiz kid like Warren Buffett, Peter Lynch or George Soros? Would you give everything just to become successful as these men?

What special characteristics do highly successful investors possess that you don’t?

If someone offered to explain to you in detail the basic characteristics possessed by every successful investor, will you listen and learn whole heartedly? If your answer to the last question above is yes? Then please read these 10 characteristics possessed by successful investors such as Warren Buffett.

“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” – Rich Dad 

“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” – John D. Rockefeller

1. Successful investors are proactive learners

The first characteristic of successful investors is that they are proactive learners. They spend more time studying than the average investors. They are also voracious readers. Successful investors know that their cup of knowledge must never be full, so they always keep their minds open; ever ready to learn.

“To learn new things; you might need to unlearn old thought and tricks. Both processes can never be achieved without humility.” – Ajaero Tony Martins

These set of investors are also willing to pay for knowledge so long it’s something new. They read books, journals and magazines ranging from investing to personal development. They also attend seminars to improve themselves. “The rich invest in time, the poor invest in money.” – Warren Buffett

2. They always invest with a planned exit strategy
“Go to the mouse you foolish investor and learn. A mouse never entrusts its life to only one hole.” – Ajaero Tony Martins

Successful investors know that there are always two sides to an investment. They know that the future is unpredictable so they prepare in advance for it. Average investors try to predict the future of their investments; they count their chickens before they are hatched.
Successful investors do the opposite; they prepare for the best while still preparing for the worst. “Always start at the end before you begin. Professional investors always have an exit strategy before they invest. Knowing your exit strategy is an important investment fundamental.” – Rich Dad

This is the ultimate reason why successful investors make money when the market goes up and even make more money when it comes down. Do you want to be a successful investor? Then plan your exit before you enter any investment. “Many people rush into the game of investing thinking they are predators. When they get to the middle of the game, they then realize they are the prey and try to escape but it will be too late. Only the preys with a well defined exit strategy will escape, the rest will be slaughtered by the real predators.” – Ajaero Tony Martins

3. They are patient

Successful investors are very patient. When they make their calculations on an investment, they are prepared to wait to make sure their plan materialize. They plan to take advantage of a short term bulls market but as a back up plan, they still plan to hold on for as long as. “I never attempt to make money on the stock market. I buy on assumption they could close the market the next day and not re-open it for five years.” – Warren Buffett

4. Successful investors have strong emotional control
Every true investor knows that the market is driven by sentiment. Market surges and declines are mainly caused by two emotional factors; fear and greed. Average investors invest based on these emotions but successful investors have a stronger control over these emotions. They don’t allow the talks from investment pundits or financial advisors affect their choice or method of investing.
“Every few seconds it changes, up an eighth, down an eighth. It’s like playing a slot machine. I lose $20 million, I gain $20 million.” – Ted Turner

Successful investors also have a neutral reaction to either winning or losing. They don’t abandon their investing strategy simply because of a few failures and they don’t become over confident when they are on the winning side. No matter the market conditions, they still respect the 50-50 chance of winning or losing. “To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game.” – Rich Dad

 

5. They have a well defined investing strategy
“A winning strategy must include losing.” – Rich Dad

Every successful investor has over time developed a well defined investing strategy that works and they stick to this strategy. While some successful investors implement the portfolio diversification strategy, others like Warren Buffett follow the portfolio focus strategy. “Diversification is a protection against ignorance. It makes very little sense to those who know what they are doing.” – Warren Buffet

Though I strongly believe in portfolio focus strategy, I think every investor is entitled to his or her investing style. No matter the strategy you use, just make sure you know what you are doing. “The wise man put all his eggs in one basket and watches the basket.” – Andrew Carnegie.

  Have a wonderful time. 

Read Part 2 Here.