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ANALYSIS OF BORROWING AND REPAYMENT OF CREDIT AMONG LIVESTOCK FARMERS IN CROSS RIVER STATE, NIGERIA
ABSTRACT
This study examined borrowing and repayment of credit among livestock farmers in Cross River State, Nigeria. Data for the study was obtained from the Bank of Agriculture (BOA), Calabar. Descriptive statistics such as percentage count, mean and tables were employed in the analysis. It was discovered that BOA in collaboration with Women Fund for Economic Empowerment (WOFEE), National Directory of Employment (NDE), Niger Delta Development Commission (NDDC), Micro Enterprise Development Agency (MEDA) and Nigeria Cassava Growers Association (NCGA) provided high loan disbursement to agricultural businesses. In-house loan borrowed the highest amount of loan N55,155,000 from 2009-2014 and WOFEE had the highest loan repayment percentage of 86%. Result also shows that the total amount of N101,456,326 was disbursed during the period and 53.7% (N52,484,619.55) was recovered, which shows an average loan default. The highest (79.6%) loan repayment was made in 2012 and the lowest (39.5%) was made in 2014 over the period. Poultry farmers received the highest loan disbursement of N25,122,050 and repayment of 8,219,467.93, while fish farmers had the lowest loan disbursement of 3,770,000 and repayment of 1,474,392.4 from 2009-2014 respectively. The study recommends among others, more supervision to
loan beneficiaries so as to encourage high repayment. KEYWORDS: Borrowing and repayment, credit, livestock