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EFFECTS OF SOCIO-ECONOMIC CHARACTERISTICS ON SAVINGS AMONG FARMERS IN COOPERATIVE SOCIETIES: OBSERVATIONS
Abstract. The study examined the socio-economic effects of savings patterns among cooperative farmers in Numan and Demsa local Government Areas of Adamawa State, Nigeria. The study assessed the socio-economic characteristics of the respondents and examines the influence of socio-economic characteristics on the saving pattern of the respondents in the study area. Multi stage random and proportionate sampling procedure was used to select the study area and respondents for the study. Data were collected using questionnaires administered to sixty eight (68) registered cooperative farmer and were analyzed using descriptive statistics. The results revealed that, majority of respondents (95.58%) were young and in their active ages with a mean age of 39. About 55.88% of farmers were male. Most respondents (44%) were married while singles were the least (14%), 36.76% of the respondents have a family size range of between 9 and 10 members. The majority of the respondents indicated they engaged in part-time farming as primary occupation, 51.47% of the respondents engaged in livestock production while 44.12% of the respondents sourced their initial funds personally. It was therefore recommended, that government should have provide soft loans/credit farmers with little or no collateral.
Keywords: Socio-economic, effects, savings, patterns, farmers, cooperative.