IMPACT OF RURAL FINANCE INSTITUTION BUILDING PROGRAMME (RUFIN) ON ARABLE CROP FARMERS IN OYO STATE, NIGERIA

• A.O. Akeremale

  Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

  Author

• O. Akinnagbe

  Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

  Author

• O. Odefadehan

  Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

  Author

In an attempt to reduce poverty and improve agricultural productivity among small-scale farmers in Nigeria, the Federal Government of Nigeria and the International Fund for Agricultural Development (IFAD) have jointly funded the Rural Finance Institution Building Programme (RUFIN) between 2010 and 2017. This is because small scale arable crop farmers constitute an important component of the agricultural sector in Nigeria. This study was conducted to assess the impact of RUFIN programme on financial support of the beneficiaries as well as their income. Multi-stage sampling procedure was used to sample 150 beneficiaries and 150 non-beneficiaries with the use of structured interview schedule. Data collected were analysed with frequency counts, percentages and mean while paired t-test was used to test the differences between beneficiaries’ income before and after RUFIN programme at 0.05 level of significance. Results showed that the mean ages of beneficiaries and non-beneficiaries were approximately 49 and 48 years, respectively. Majority (92.0% and 78.8%) of beneficiaries and nonbeneficiaries married. Both beneficiaries and non-beneficiaries had an average household size of 6 persons respectively. However, the study further revealed the accessibility to financial support of RUFIN programme was always accessible on the average of N107,133.00 amount of loan granted to the beneficiaries. The average number of hectares cultivated by the beneficiaries increased from 2.66 to 4.60 while there was only an increment of 2.45 to 3.73 for the non-beneficiaries. For the three arable crops investigated (maize, cassava and yam), the yield increased from 231.09 tons in 2010 to 343.08 tons in 2017 for the beneficiaries while there was a slight decrease in the yield of the non-beneficiaries from 241.36 tons to 237.09 tons within the same year frame. Results of paired t-test showed that significant differences exist in the income of the beneficiaries with a t-value of 6.17; 0.05. The findings concluded that RUFIN has produced a positive impact in the lives of the beneficiaries. It is recommended that programme of this nature should be extended by the sponsored bodies for more empowerment and reduction in the poverty status of arable crop farmers.

1. A.O. Akeremale, Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

   Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

2. O. Akinnagbe, Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

   Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

3. O. Odefadehan, Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

   Department of Agricultural Extension and Communication Technology, Federal University of Technology, Akure, Ondo State, Nigeria Corresponding

• PDF