Savings and Its Determinants Among Cashew Farmers: Evidence from Dekina Local Government Area, Kogi State, Nigeria

References

[1] Adebayo Ogunwolu , Chinweike Abednego Ugwu , Modinat Adewunmi Alli , Kehinde Ademola Adesanya , Mutiat Oluwaseyi Agboola-Adedoja , Adejoke Adebusola Adelusi and Ayodele Oladipo Akinpelu(2020) Prospects and challenges of cash crop production in Nigeria. 08(03), 439–445

[2] Afolabi, J. A. (2010), Analysis of loan repayment among small-scale farmers in Oyo state, Nigeria. Journal of Social Science, 22(2), pp 115-|19.

[3] Agita Gupta (2018) Savings and investment : pillars of financial security. vol 9, issue

[4] Ahmad, A. A. and Ghazi, I. A. (2014). Long-run and short-run relationship between stock market index and main macroeconomic variables performance in Jordan. European Scientific Journal, Vol. 10(10): 12-30

[5] Akinta, T.O. and Ayodele, E.A. (2013). Economic importance of cashew. Quarterly Nigeria’s

[6] Alexiade, A., Ademola S., and Abang, O. (2015). Analysis of Poverty Status of Rural Farm Families in Akwa Ibom State Nigeria. Global Journal of Agricultural Science, 14 (1), 45-50

[7] Audu, M. (2013). Food and Agriculture Organization Statistics. Pp. 1-125

[8] Aworemi, J. S.Abdul-Azeez,I.A. and Opoola,N.A(2010). Impact of socio-economic factors on the performance of small-scale enterprises in Osun state, Nigeria. International Business Research, Vol.3,No.2

[9] Bime, M.J. (2008) mobilization and rural credit market performance in Noth West province, Cameroon PhD thesis submitted to the department of Agricultural Economics, Michael Okpara University of Agriculture, Abia State, Nigeria

[10] Ibitoye, S. J., (2012). Economics of Utilizing Informal Sources of Credit for Agricultural Production in Yagba Area of Kogi State, Nigeria International Journal of Agricultural Economics, Management and Development. Kogi State University, Anyigba.2(1): 141-147.

[11] Murphy, B.A., Edet, J.U. and Ebirigor, A.A. (2017). Analysis of Savings determinants among agroo-based firm workers in Nigeria: a simultaneous equation approach. Research on humanities and social sciences. 1(3): 1-11

[12] Nwibo. S.U. and Mbaru B.N. (2013) Determinants of saving and investment capacities of farming households in Udi Local Government Area, Enugu Sstate, Nigeria. Research journal of finance and accounting vol 4 no. 15 Pp59 - 69

[13] Oladejo, J.A. (2015). Profitability and Structural analysis of cashew nut market in Oyo State, Nigeria. International Journal of Agricultural Policy and Research, 3 (3), 114-121.

[14] Oluyole, S. Agbeniyi and K. (2017.) Ayegbonyin, "Competitiveness of Cashew Production in Nigeria", International Journal of Research in Agriculture and Forestry, vol. 4, no. 8, pp. 1-7,

[15] Oman Olawuyi, S. O. and Adetunji, I. (2013). Assessment of Rural Household Poverty in Nigeria: Evidence from Ogbomoso Agricultural Zone of Oyo State, Nigeria. Journal of Scientific Research and Reports. 2(1): 35-45.

[16] Oyewole, B, O. Ibitoye, S. J. Adejo, P. E. and Oyibo, F. O. (2023). Resource Use Efficiency and Profitability Analysis of Catfish (Clarias gariepinus) Production in Kogi State, Nigeria. Asian Journal of Agricultural Extension, Economics & Sociology Volume 41, Issue 9, Page 103-116.

[17] Sood, D., & Kaur, N. (2015). A Study of Saving and Investment Pattern of Salaried Class people with special reference to Chandigarh (India). International Journal of Research in Engineering, IT & Social Sciences, 5(2), 1-15

[18] Zeller, M. and Sharma, M. (2000). Many borrow, more save and all insure: Implications for food and micro finance policy. Food Policy. 25: 143–167.

@article{1704907,
      author = {Dr. Henry Amaegberi, Ologidi Patrick Oyintonbra},
      title = {Savings and Its Determinants Among Cashew Farmers: Evidence from Dekina Local Government Area, Kogi State, Nigeria},
      journal = {Iconic Research And Engineering Journals},
      year = {2023},
      volume = {7},
      number = {1},
      pages = {475-483},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/17049071.pdf},
      abstract = {Cashew farming is a profitable venture which has contributed to the economic growth and wellbeing of farming households and the economy at large. This study investigated savings and its determinants among cashew farmers in Dekina Local Government, Kogi State. Specifically, the study described the socioeconomic characteristics of the respondents, identified the motivational factors for savings, identified forms in which income were saved and examined factors that influenced amount saved. Using multi-stage random sampling, 120 cashew farmers were selected and information were collected using a well-structured questionnaire. Data collected were analyzed using descriptive and inferential statistics. The results o showed majority (56.70%) of the cashew farmers were Males with average age of 43 years, married (86.70%) with secondary education majorly (70.30%) and average household size of 9 persons. Most of the respondents had no access to credit and on average had 17 years of farming experience  with 1.80ha farm size on average. Fear of the unseen (mean score = 2.62), daily upkeep of the family (mean score = 2.61), future consumption (mean score = 2.43), quest for interest (mean score = 2.40) wealth accumulation (mean score = 2.20), and educational needs (mean score = 2.10) were found to be serious factors that motivates cashew farmers in the study area to save their income. Most of the respondents 53.30% saved in liquid asset and few (3.33%) of them saved in gold.  Age (b = 231.332), Educational level (b = 118.048), Annual income (b = 2092.764) and interest rate (b = 1687.644) were significant variables that affect amount saved in the study area as revealed by the regression analysis. The study therefore recommends establishment of favorable market and prices for cashew products and other assets to help boast farmers? revenue and income and lands should be made available for farmers to encourage large scale cashew farming to increase yield and revenue.},
      keywords = {Cashew, Income, Savings, Forms and Determinants},
      month = {July},
  }