The role of commercial bank in financing of Agricultural project in Enugu State is a topic so crucial that interested parties in the work are many. It is very vital considering the role of commercial bank play in financing of agricultural project in Enugu State in sustaining the economy. This creditable role being played by the above bank economy of Enugu State and the position of agriculture in the building of a virtue and a self reliant nation attracted the attention of the researcher.
This work was divided into five chapters .the first chapter was the introduction and background of the study, objective of the study which is the maximization of owners wealth. Significance of the study was also discussed. Related textbooks was also used as literature review of the study, questionnaire were distributed to respondents . Information getting from responses was presented in tabular form. Finally conclusions were drawn and recommendation were also given based on research.
References 10
review of Related Literature 11
2.1 The Meaning of Agricultural Finance 11
Developed Country 11
Country 16
in Nigerian Commercial Bank 19
in Granting Agricultural Loans 27
Assistance in Relation to Agricultural Finance 28
References 33
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY 35
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS 41
Reference 57
CHAPTER FIVE
SUMMARY OF FINDINGS, RECOMMENDATION
AND CONCLUSION 47
Bibliography 55
Appendix 58
Questionnaires 59
LIST OF TABLES
Table 4.1 Administration of questionnaire 42
Table 4.5 Admisory service respondent 44
Table 4.6 Condition specified by banks 45
Table 4.10 Respondents of banks in granting of
loan to agricultural project 45
In the past decade and this present decade there have been seminars conference, article, journals and various publications by both local national and international organization on the sharp decline in Agricultural production on these various programmes, they emphasized on the need to promote Agricultural production, to reduce the unguided population explosion which is at a geometrical procession, while agricultural production was only growing in an arithmetical progression. This seminar also reminded the populace world wide of the impeding danger posed by the continuous deforestation practices of Mr. Forrest reserves, bush burning over grazing, continuous cropping and other environmental degradation hazards. They pointed out little or no concerted efforts are made in replacing the deforested areas. There called on the need to embark on national forestation scheme and forest conservation.
In Nigeria, there has been various campaigns for its inhabitants nationally to plant at least one tree crop in his vicinity annually (tree planting campaign). All these would have been uncalled for but for the indispensable role played by agriculture in Nigeria economy, justify this project work, agriculture sector is one of the most important sector in developing and under developed countries. It provides food required for the teaming population in both the rural and urban populace. It also provides raw materials for our-allied industries like cotton to our textile industries etc.
Agriculture provides employment for most of the labour force in developing countries over sixty percent (60%) of the aggregates labour force.
Agriculture provides income to individual state and the nation to the present farmers and traders alike it provides money as income and means of live hoods to the farmer who sell this farm wares to the populace. To the states, like Enugu State the cashew plantation not only provides raw materials to industries, but also provides incomes to the state government and to the nation, it provides a means of export, thereby earning foreign exchange earning and consequently reducing the chronic balance of payment deficit prevalent in these regions in 1969. Agriculture a contributed 31% of the Gross Domestics Product (GDP) in sierra Leon. In 1957, it contributed over 61% to the GDP in Nigeria, it raised up to 80% when the petroleum sector started contributing yearly to the national income presently agriculture was viewed as a narrow field which includes the propagation of seed and crops and the rearing of animals for man use. This does not fully inculcate all the relevant aspect of agriculture some agriculture addition to rearing of animals did the propagation, include sourcing and buying of farm inputs like seeing machineries etc, the selling of its output (Agriculture Marketing) and the use and provision of credit in agriculture (agricultural-financing). This later view is more prevalent now especially among the literate populace. The use and provision of agricultural credit will equally assist us in appreciating the role of commercial banks in financing. Agricultural project in Enugu State, their problems and prospects. This forms the cruse of this project.
The major concern of this study is to known from the leader as the commercial bank and the recipient. (Farmer and agriculturist) how effectively agricultural projects are financed in Enugu State as a result of the domineering and indispensable role of commercial bank. Since the establishment they have been carrying out financial assistance to agriculturist.
1.4 RESEACH QUESTIONS
1. What are impacts of commercial bank in reduction of unemployment in the state?
2. How often does commercial bank provide farms with credit facilities?
3. What role has commercial banks played in financing agricultural projects?
This study will benefit a lot of people due to the astronomical population growth presently with out a correspondent growth in agricultural productivity to feed for the growth in population, especially in the developing countries, the people who will benefit more from this study are the national and state government especially Enugu Sate, the commercial banks, the farmer, the readers and prospective future researchers on this topic.
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