ANALYSIS OF MOTIVATIONAL FACTORS FOR SAVINGS AND INVESTMENT AMONG WOMEN CASSAVA PROCESSORS IN YAGBA LOCAL GOVERNMENT AREA OF KOGI STATE

P E Adejo, A Labran, O Samuel

Abstract


This paper analyzed motivational factors for savings and investment among women cassava processors in Yagba East Local Government Area Of Kogi State. A set of well structured questionnaire was administered to 150 respondents. Datat collected were analysed using both descriptive (percentages, mean from Likert scale) and inferential statistics.  The results showed that fear of the unforeseen with mean score of 2.51 and desires for wealth accumulation with mean score of 2.50 were the major factors that influenced their motivations to save and invest. Result also shows that income (P≤0.01), age (P≤0.05), educational level (P≤0.01) and farming experience (P≤0.01) were significant variables that affected savings and investments capacity of the respondent in the study area. While proximity to financial institution with mean score of 2.51 and low income with mean score of 1.97 were identified as the major constraints against savings. Improving women’s participation in cassava processing through the use of improved processing technologies and ensuring their easy access to credit facilities will go a long way to upscale their income which is a function of their savings and investments.


Full Text:

PDF

References


Adebayo, C.O. (2004). Analysis of Rural Savings Mobilization for Poverty Alleviation in Ijumu LGA of Kogi State. Unpublished M.SC Thesis. Ahmadu Bello University, Zaria, Nigeria.

Adebayo, K. (2009). Dynamics of Technology Adoption in Rural-based Cassava Processing Enterprises in South-West, Nigeria. International Journal of Agricultural Economics and Rural Development, 2(1): 15-25.

Adeyemo, R. and Bamire, A. S. (2005). Saving and Investment patterns of cooperative farmers in South Western Nigeria. Journal of Social Sciences, 11, 183-192.

Amu, M. E. K., and Amu, E. K. (2012). Savings behaviour in Ghana: A study of rural households in the Ho Municipality of Volta Region. Online Journal of Social Sciences Research, 1 (2) pp. 54-61.

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.

Brata, A. G. (2005). Household saving behavior: The case of rural industry in Bantul. Analysis CSIS 28(1), 75-86.

Kayode, A. and Sunday, O. A. (2013) Women Participation In National Development In Nigeria: The Imperative of Education. Journal of Public Administration and Governance Vol 13 (2) pp 15-21.

Kogi (State, Nigeria) - Population Statistics, Charts, Map and Location". www.citypopulation.de. Retrieved 2018-09-18.

Leff, N.H. (1969) Dependency Rates and Saving Rates. 59, 886-896.

Nasir, S. and Khalid, M. (2004) Saving-Investment Behaviour in Pakistan. An Empirical Investigation. The Pakistan Development Review, 43, 665-682.

Ngang, F.F (1992) Rural Saving Capacity, Potentials and Traditional Mobilization

Conducts in Bamenda. Unpublished M.Sc thesis Dept of Agricultural Economics, Ahmadu Bello University, Zaria.

Obasi, C. E. and Obasi, M. O. (2004) “Influence of personal characteristics in the adoption decision of selected soybean production practices in Gboko localities of Benue State, Nigeria”. Proceedings of the 37th annual conference of the Agricultural Society of Nigeria held at Lafia.

Odoemenem, I.U. Ezihe, J.A.C. and Akerele, S.O. (2013) Saving and Investment Pattern of SmallScale Farmers of Benue State, Nigeria. Global Journal of Human Social Science Sociology and Culture, 13(1): Pp. 7-12

Okanigbe, J.O (1987) Rural Savings and its Utilization in Sokoto Villages. An Unpublished M.Sc Thesis Dept of Agricultural Economics A.B.U, Zaria

Olawepo, R. A. (2010). Determining rural farmers’ income: A rural Nigeria experience. Journal of African Studies and Development Vol. 2(4), pp. 99-108, May 2010. Available online http://www.academicjournlas.org/JASD. ISSN – 2141 -2189 ©2010 Academic Journals

Oluwakemi A.O (2012) Saving Behavior of Rural Households in Kwara State, Nigeria. African Journal of Basic & Applied Sciences 4 (4): 115-123.

Onyemauwa, C.S. (2012). Analysis of Women Participation in Cassava Production and Processing in Imo State, South-east Nigeria. Journal of Economics and Sustainable, 3 (5), 81-90

Reddy, M., Naidu, V., and Vosikata, S. (2005). Determinants of household saving behaviour in emerging economy: market versus non-market factors. Pp. 25 – 49

Safiya, D.K. (2011). Skill acquisition capacity building and women econo,mic empowerment: a study of women education centre. Brinin Kebbi. Pg 5 - 7

Udoh, E. J. and Falake, O. (2006). Resource-use Efficiency and Productivity among Farmers in Nigeria. Journal of Agriculture and Social Sciences, 2(4): 264-26.

www.Wikipedia.org/yagba_east retrieved 18/09/2018.

Yinusa A. H (1991): Some Socio-economic Determinants of Rural Savings Behaviour in Igabi Local Govt. Area of Kaduna State. Unpublished M. Sc thesis Dept of Agricultural Economics. Ahmadu Bello University, Zaria.

Zeller, M and Sharma, M (2000). Many borrow, more save and all insure: implications for food micro finance policy. Food policy. 25: 243 - 167.


Refbacks

  • There are currently no refbacks.