AGRICULTURAL FINANCING AND THE PERFORMANCE OF SMES; A STUDY OF RICE FARMERS IN KOGI STATE

ABSTRACT The study examines the influence of agricultural financing on small and medium-sized enterprise performance: a study of Kogi State rice farmers. The specific goals were to determine how agricultural loan affected agricultural production of smallholder farmers in Kogi State; ascertain the effect of interest rate on the performance of smallholder farmers in Kogi State. The study's 7,603 smallholder rice farmers in Kogi State make up its population. A questionnaire was employed as the primary data source to collect information from the respondents. To assess the hypotheses, the study used multiple regression analysis as well as descriptive analysis. The study's conclusion was that smallholder farmers can greatly profit from low interest rates and access to agricultural loans. The study concluded that, agricultural financing enables these enterprises to invest in modern farming technologies, procure high-quality inputs, and adopt sustainable agricultural practices, thereby improving their yield and profitability. According to the study's recommendations, stakeholders can help Kogi State's rice farming industry expand and flourish by enhancing the efficacy of agricultural financing programs. Ultimately enhancing the livelihoods of rice farmers and promoting food security and economic growth in the region.

1 28 Jun, 2024

pg: 14

JBMIC PORTAL SYSTEM

Contri. 3+