STATISTICAL ANALYSIS OF THE ROLE OF MICRO-FINANCE BANK IN AGRICULTURAL DEVELOPMENT

Code No: 447383

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ABSTRACT

The study was undertaken in statistical analysis of the role micro-finances bank in agricultural development with the aim of establishing the role of micro-finance banks. Loans to peasant farmers in conjunction with the crop production. Using ordinary least square method, data collected were secondary data and the durbin-watson t-statistics were used in the regression analysis. The study shows that Microfinance bank loans have a positive impact on agricultural development in Nigeria. Based on these findings some recommendations were made, interest rate should be reduce to encourage farmers in borrowing and The federal government should give a directive through microfinance bank that will encourage the farmers by giving them incentives. This will automatically increase the efficiency of farmers and thereby attract more youths to the agricultural sector.

CHAPTER 1

CHAPTER ONE
INTRODUCTION
The project work is based on the statistical analysis of the role of microfinance bank in agricultural development in Nasarawa state.
A study cover three selected microfinance banks, microfinance bank has played a vital role in the financing of various agricultural development programme. According to Schreiver and Columbet (2001) define microfinance as a development tools used to create access for the economically active poor to financial service.
1.1 BACKGROUND OF THE STUDY
Nasarawa state is one of the seven state that make the north central geo-political zone and the north central part of Nigeria, it has an inter-state boundary with Kaduna state to the north federal capital territory Abuja to the west Kogi and Benue state to the south Taraba and plateau state to the east its capital Lafia.
Nasarawa state was originally part of northern region in the three region structure of 1954. In 1967 with the creation of 12 federal states by General Yakubu Gowonâ€™s military government itâ€™s become part of the Benue Plateau State. The 1976 military government of General Muritala Muhammed create 19 states out of the existing 12 federal states and Nasarawa state was made a component of plateau state 1996 the military government of General Sani Abacha divided plateau state into the present plateau state and Nasarawa state.
Many cities and towns Lafia (Capital City) Akwanga, Dorna, Karu, Keffi, Nasarawa, Nasarawa-Eggonand waund a land mass, location and population.
Nasarawa state covers an area of 28, 735sq kilometers, it has a population of 1,863,275 (2006 census figures) with a population density of 65 people/sqkm its population make up 1.3% of Nigeriaâ€™s total population. Original inhabitants and settlers early settlers of Nasarawa State include the Magili people. The state takes its name from Nasarawa one of its main town administrative structures:
(Administrative Military) October 1996-August 1998. Baba Marde Administrator (administrator military) August 1998-May 1999 AbdullahiAdamu(Governor Civilianmay (People Democratic Party) 29 May 1999 May 2007 AliyuDoma (Governor-civilian (People Democratic Party) May 2007- may 2011 Umar TankoAlmakura (governor-civilian (congress for progressive change) may 2011-present.
Nasarawa state is almost entirely wood land savannah and tall grass savannah agricultures is very important and the main occupation of the people of the animal cassava, yam, rice, corn, genie corn, beans, soya beans and millet are the major crops grown. Animal husbandry is a significant commercial activities minerals form in the state include state coals loonier, zinc, copper, columbite barite and aquamarine.
Education: Nasarawa state has one federal university Lafia, one state university Nasarawa state University Keffi and a number of Polytechnics including college of Agriculture-Lafia the Federal Polytechnic Lafia.