Agricultural financing and economic performance in the Obudu local government area of cross River State, Nigeria

One of the challenges facing agricultural sector development in Nigeria is inadequate financing by the government and financial institutions. This poor agricultural funding has an impact on economic activities. Thus, this study investigated the connection between agricultural funding and economic performance in Cross Rivers State's Obudu Local Government Area (LGA). The survey study methodology was employed, and a questionnaire was used as its primary data source, combined with a stratified sample technique. The targeted population was restricted to farmers and agriculturalists in the study area. Descriptive statistics, such as frequency and percentages tables, were calculated, and the data gathered from the questionnaire were compiled, computed, and analysed. The results of hypothesis testing showed a relationship between agricultural finance and economic performance, as well as a connection between agricultural credit schemes and agricultural sector expansion, using analysis of variance (ANOVA) as the statistical technique. They also showed that credit programmes for agricultural finance encourage the expansion of the agricultural sector, which improves economic performance, as manifested in economic growth and development. The study recommends, firstly, that the government release grants to farmers at regular intervals to support their activities. Secondly, it is necessary to raise the level and size of agricultural loans through the reduction of interest rates to allow for more economic development in the country. The government should implement an effective and efficient supervisory framework to monitor interest rate regulation within the agricultural loan policy.

尼日利亚农业部门发展面临的核心挑战之一，便是政府与金融机构的农业融资供给不足。这一农业融资短板会对经济活动产生显著负面影响。据此，本研究以克罗斯河州奥布杜地方政府区域（Local Government Area, LGA）为研究区域，探讨农业融资与经济绩效之间的内在关联。本研究采用调查研究法，以问卷调查作为核心数据来源，并结合分层抽样技术（stratified sample technique）选取样本。研究对象限定为该区域内的农户与农业从业者。研究通过描述性统计方法（含频数与百分比统计表）完成数据处理，对回收的问卷数据进行整理、计算与分析。借助方差分析（ANOVA）这一统计方法开展假设检验，结果显示农业融资与经济绩效之间存在显著关联，农业信贷计划与农业部门扩张之间亦存在正向联系。研究结果同时表明，用于农业融资的信贷项目能够推动农业部门扩张，进而提升经济绩效，具体体现为经济增长与发展层面的改善。本研究提出两项政策建议：其一，政府应定期向农户拨付扶持资金，以支持其农业生产活动；其二，需通过下调贷款利率来提升农业贷款的额度与覆盖规模，助力国家实现更充分的经济发展。此外，政府应构建高效完善的监管框架，对农业贷款政策中的利率管制措施落实情况进行监督管理。