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The Impact of Credit Policy Environment on Poultry Production in Nigeria

Year 2024, Volume: 4 Issue: 1, 30 - 41, 31.03.2024

Sunday Akpan Comfort Essien Veronica S. Nkanta İni-mfon Patrick

https://doi.org/10.59359/maujan.1402657

Abstract

The research gave empirical data on the correlation between poultry production index and the credit policy environment in Nigeria. An autoregressive distributed lag (ARDL) bound test approach was employed to establish co-integration between series. The estimated long and short-run models parameters demonstrated stability, best quality, efficiency, and unbiased. The findings showed that in the long run, the commercial bank loan to the agricultural sector and domestic credit to the private sector had a significant positive influence on poultry production index while agricultural credit guarantee scheme loan to poultry subunit and lending interest rate exhibited negative relationships. In the short run, the current year coefficient of lending interest rate, the agricultural credit guarantee scheme loan to poultry subunit and domestic credit to the private sector had significant negative correlation with the poultry production index. However, the commercial bank credit to the agricultural sector showed positive effect on poultry production in the short run. The implication of the finding justifies the need to increase the commercial bank credit to the agricultural sector and domestic credit to private sector as a strategy to boost poultry production. Also, the agricultural credit guarantee scheme fund should be reassessed and modify to render it initial objectives. The lending rate should be deliberately lowered to increase credit access by the poultry farmers.

Keywords

Poultry credit agricultural policies growth rate Nigeria

References

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Nijerya'da Kredi Politikası Ortamının Kümes Hayvanı Üretimi Üzerindeki Etkisi

Year 2024, Volume: 4 Issue: 1, 30 - 41, 31.03.2024

Sunday Akpan Comfort Essien Veronica S. Nkanta İni-mfon Patrick

https://doi.org/10.59359/maujan.1402657

Abstract

Araştırma, Nijerya'daki kümes hayvanı üretim endeksi ile kredi politikası ortamı arasındaki korelasyona ilişkin ampirik veriler verdi. Seriler arasında eş-bütünleşmeyi sağlamak için otoregresif dağıtılmış gecikme (ARDL) sınır testi yaklaşımı kullanılmıştır. Tahmin edilen uzun ve kısa vadeli model parametreleri istikrarı, en iyi kaliteyi, verimliliği ve tarafsızlığı gösterdi. Bulgular, uzun vadede tarım sektörüne verilen ticari banka kredisi ve özel sektöre verilen yurt içi kredinin kümes hayvanı üretim endeksi üzerinde anlamlı pozitif etkiye sahip olduğunu, kümes hayvanı alt birimine verilen tarımsal kredi garanti programı kredisi ile borç verme faiz oranının ise negatif ilişkiler sergilediğini göstermiştir. Kısa vadede, borç verme faiz oranının cari yıl katsayısı, kümes hayvanı alt birimine verilen tarımsal kredi garanti programı kredisi ve özel sektöre verilen yurt içi kredinin kümes hayvanı üretim endeksi ile anlamlı negatif korelasyonu vardı. Ancak tarım sektörüne verilen ticari banka kredisi kısa vadede kümes hayvanı üretimine olumlu etki gösterdi. Bulgunun anlamı, kümes hayvanı üretimini artırma stratejisi olarak tarım sektörüne ticari banka kredisini ve özel sektöre yurt içi krediyi artırma ihtiyacını haklı çıkarıyor. Ayrıca, tarımsal kredi garanti planı fonu yeniden değerlendirilmeli ve başlangıç hedeflerine uygun şekilde değiştirilmelidir. Kümes hayvanı yetiştiricilerinin kredi erişimini artırmak için borç verme oranının bilinçli olarak düşürülmesi gerekiyor.

Keywords

Kümes hayvanları kredi tarım politikaları büyüme oranı Nijerya

References

  • Abedullah, N. Mahmood, M. K. & S. Kouser, S. (2009). The role of agricultural credit in the growth of livestock sector: a case study of Faisalabad. Pakistan Vet. J., 29(2): 81-84.
  • Abu, O. (2017). Impact of agricultural credit guarantee scheme fund (ACGSF) on livestock production in Nigeria: evidence from historical data. Journal of Agriculture and Environment, 13(2), 1-11
  • Adedokun, B. (2021). Nigeria’s Food Insecurity and Its Implications on Sustainable Development Goal (SDG) 2 amidst the COVID-19 Era. Journal of Good Governance and Sustainable Development in Africa (JGGSDA), 6(5):18-26. Available at: https://doi.org/10.36758/jggsda/v6n5.2021/2.
  • Adewale, A. T., Lawal, O. A., Aberu, F., & Toriola, A. K. (2022). Effect of credit to farmers and agricultural productivity in Nigeria. East Asian Journal of Multidisciplinary Research, 1(3), 377-388.
  • Adjognon, S. G., Liverpool-Tasie, L. O., Reardon, T. A. (2017). Agricultural input credit in Sub-Saharan Africa: Telling myth from facts, Food Policy, Volume 67, Pages 93-105,https://doi.org/10.1016/j.foodpol.2016.09.014.
  • Ahamefule, B. A., Oke, U. R., Nnamani, N. G. and Ezeugo, K. O. (2023). Financial Savings and Capital Formation among Rural Farmers in Abia State, Nigeria. Nigerian Agricultural Journal, 54(1), 402-408.
  • Ajala, A. O. Ogunjimi, S. I., Famuwagun, O. S. & Adebimpe, A. T. (2021). Poultry Production in Nigeria: Exploiting Its Potentials for Rural Youth Empowerment and Entrepreneurship. Nigerian Journal of Animal Production, 48(1): 114 - 123. doi.org/10.51791/njap.v48i1.2890·
  • Akpan, S. B. (2022). Trends in major ruminant meats production and the roles of the macroeconomic environment in Nigeria. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development 22(4), 49 – 62.
  • Akpan, S. B. & Nkanta, V. S. (2022). Trend Analysis and Macroeconomic Variable Determinants of Egg Production in Nigeria. Journal of Agricultural Production, 3(2), 100-109. https://doi.org/10.56430/japro.1174674.
  • Akpan, S. B., Offor, O. S. & Archibong, A. E. (2020). Access and demand for credit among small scale agro-based processors in Uyo agricultural zone, Akwa Ibom State, Nigeria. Nigerian Journal of Agriculture, 51(1), 132-141.
  • Akpan, S. B., Inimfon V. P., Samuel J. U., Edem A. O., & Uwemedimo E. O. (2013). Determinants of Credit Access and Demand among Poultry Farmers in Akwa Ibom State, Nigeria. American Journal of Experimental Agriculture,3 (2): 293-307.
  • Akpan, S. B., Umoren, A. A. & Okon, U. O. (2017). Youths and off- Farm Economic Employments: A Case Study of Youths in the Rural Areas of Akwa Ibom State, Nigeria. International Journal of Agriculture and Rural Development, 20 (1): 2914-2925.
  • Akpan, S. B. & Udo, U. J. (2021). Indigenous meat and milk gross production indexes and the dynamic macroeconomic fundamentals in Nigeria: ARDL model approach. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, 21(3); 97 – 110.
  • Akpan, S. B., E. J. Udoh, & A, E. Aya (2011). Analysis of saving determinants among agro-based firm workers in Cross River State, Nigeria: A simultaneous Equation approach. Research on Humanities and Social Sciences, 1(3).1-11.
  • Akpan, S. B., Inimfon V. P., Samuel J. U., and Uwemedimo E. O. (2013). Determinants of Food Consumption Expenditure among Agro-Based Firms Workers in Southern Nigeria: Simultaneous Equation Approach. Asian Journal of Agricultural Extension, Economics & Sociology, 2(1): 69-84. 10.9734/AJAEES/2013/2919.
  • Akpan, S. B., Obot D. Akpan. & Ubon A. Essien, (2012). Government Agricultural Credit Policy and Macroeconomic Fundamentals: a case study of Agricultural Credit Scheme Fund (ACGSF) in Nigeria. Public Policy and Administration Research, 2(2), 61-75.
  • Anderson, A., Marita, C., Musiime, D. & Thiam, M. (2017). National survey and segmentation of smallholder households in Nigeria: Understanding their demand for financial, agricultural, and digital solutions. CGAP Working Paper. Retrieved from https://www.cgap.org/sites/default/files/Working-Paper-Survey+Segmentation-of-Smallholders-Nigeria-Oct-2017.pdf.
  • Anetor, F. O., Ogbechie, C., Kelikume, I. & Ikpesu, F. (2016). Credit Supply and Agricultural Production in Nigeria: A Vector Autoregressive (VAR) Approach. Journal of Economics and Sustainable Development, 7(2), 131 – 143.
  • Asekome M. & Ikoje, S. (2018). An Empirical Investigation on Impact of Interest Rates on Agricultural Investment in Nigeria. Journal of Economics and Business 1(1):71-82. DOI: 10.31014/aior.1992.01.01.7.
  • Attia, Y.A.; Rahman, M. T., Hossain, M. J., Basiouni, S., Khafaga, A. F., Shehata, A. A. & Hafez, H. M. (2022). Poultry Production and Sustainability in Developing Countries under the COVID-19 Crisis: Lessons Learned. Animals, 12, 644. https://doi.org/10.3390/ani12050644.
  • Bako, B. D. (2020). Agricultural credit policy in Nigeria: prospects and challenges. Journal of Agripreneurship and Sustainable Development (JASD), 3(1), 77-85.
  • Bolarinwa, K.K. & Fakoya, E.O. 2011. Impact of Farm Credit on Farmers Socio-economic Status in Ogun State, Nigeria. J. Soc. Sci. 26(1):67-71.
  • Carrer, A. J., Maia, A. G., Vinholis, M. B. & Filho, H. M. (2020). Assessing the effectiveness of rural credit policy on the adoption of integrated crop-livestock systems in Brazil. Land Use Policy, Volume 92, 2020.
  • Castro, F. L. S., Chai, L., Arango, J., Owens, C. M., Smith, P. A., Reichelt, S., DuBois, C. & Menconi, A. (2023). Poultry industry paradigms: connecting the dots. Journal of Applied Poultry Research, 32(1),https://doi.org/10.1016/j.japr.2022.100310.
  • Dickey, D. A. & Fuller, W. A. (1979). Distribution of the estimators for autorregressive time series with a unit root, Journal of the American Statistical Association, 74, 427-31.
  • Dorfman, J. H. & Koop, G. (2005). Current developments in productivity and efficiency measurement Journal of econometrics, Elsevier. 2005; 126 (2):233-240.
  • Egberi, A. E. (2023). Sustainable Development Goals 1 & 2 Compliant: Evaluating Nigeria’s Agricultural Policies 2010 - 2019. IRASD Journal of Management, 5(2), 87–95.https://doi.org/10.52131/jom.2023.0501.0109.
  • Elliot, G., Rothenberg, T. J. & Stock, J. H. (1996). “Efficient tests for an autoregressive unit root”. Econometrica, 64, 813-836.
  • Engle, R. F. & Granger, C. W. J. (1987). “Co-integration and Error Correction: Representation, Estimation, and Testing”. Econometrica, 55, 251-276.
  • Eze, C. C., Lemchi, J. J., Ugochukwu, A. I., Eze, V. C., Awulonu, C. A. & Okon, A. X. (2010). Agricultural financing policies and rural development in Nigeria. The 84th Annual Conference of the Agricultural Economics Society Edinburgh, 29th to 31st March 2010.
  • Federal Ministry of Environment 2021. https://environment.gov.ng/. retrieved on the 21st of May, 2021.
  • Harris, R. & Sollis, R. (2003). Applied Time Series Modeling and Forecasting. Wiley, West Sussex.
  • Hussein H. K. & Ohlmer, B. O. (2008). Influence of Credit Constraint on Production efficiency: The Case of Farm Households in Southern Ethiopia. Department of economics, Swedish University of Agricultural Sciences. Sweden.
  • Iliyasu, A. S. (2019). An Empirical Analysis of the Impact of Interest Rate on Agriculture in Nigeria. Journal of Economics and Sustainable Development, 10(22), 106-112. DOI: 10.7176/JESD/10-22-19.
  • Imran, M., U. L. Haq, S. & Ozcatalbas, O. (2023). Role of Microcredit in Sustainable Rural Development. IntechOpen. doi: 10.5772/intechopen.102588.
  • Isiorhovoja, R. A., Ebewore, S. O. & Nwachi, S. (2020). Farmers’ attitude and behavior toward savings in Ika south local government area of delta state, Nigeria. Asian Journal of Agriculture and Rural Development, 10(1), 406-419’112.
  • Johansen, S. & Juselius, K. (1990). “Maximum likelihood estimation and inference on cointegration with applications to the demand for money”. Oxford Bulletin of Economics and Statistics, 52, 169-210.
  • Khan, K., M.A. Kamal, S. Ramazan, G. Khan, G. Ali & S. Ahmed (2018). Impact of agricultural credit on livestock income: a case study of district lasbela, balochistan . Sarhad Journal of Agriculture, 34(2): 246-250.
  • Kuye, O. O. (2013). Effects of Micro-Credit on Livestock Production among Smallholder Livestock Farmers in Yakurr LGA, Cross River State, Nigeria. International Journal of Science and Research (IJSR), 5(9), 65 – 68. DOI: 10.21275/20081603.
  • Mejeha, R. O. & Ifenkwe, G. E. (2007). Density and Microfinance Service Coverage of Rural Banks in Nigeria. International Journal of Agriculture and Rural Development, 10(2):1-6
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Details

Primary Language English
Subjects Agricultural Policy
Journal Section Research Articles
Authors

Sunday Akpan 0000-0002-0458-028X

Comfort Essien 0009-0006-8126-1270

Veronica S. Nkanta 0000-0001-7035-7978

İni-mfon Patrick 0009-0007-9002-3060

Publication Date March 31, 2024
Submission Date December 9, 2023
Acceptance Date March 21, 2024
Published in Issue Year 2024 Volume: 4 Issue: 1

Cite

APA Akpan, S., Essien, C., Nkanta, V. S., Patrick, İ.-m. (2024). The Impact of Credit Policy Environment on Poultry Production in Nigeria. Muş Alparslan University Journal of Agriculture and Nature, 4(1), 30-41. https://doi.org/10.59359/maujan.1402657
AMA Akpan S, Essien C, Nkanta VS, Patrick İm. The Impact of Credit Policy Environment on Poultry Production in Nigeria. MAU J Agr Nat. March 2024;4(1):30-41. doi:10.59359/maujan.1402657
Chicago Akpan, Sunday, Comfort Essien, Veronica S. Nkanta, and İni-mfon Patrick. “The Impact of Credit Policy Environment on Poultry Production in Nigeria”. Muş Alparslan University Journal of Agriculture and Nature 4, no. 1 (March 2024): 30-41. https://doi.org/10.59359/maujan.1402657.
EndNote Akpan S, Essien C, Nkanta VS, Patrick İ-m (March 1, 2024) The Impact of Credit Policy Environment on Poultry Production in Nigeria. Muş Alparslan University Journal of Agriculture and Nature 4 1 30–41.
IEEE S. Akpan, C. Essien, V. S. Nkanta, and İ.-m. Patrick, “The Impact of Credit Policy Environment on Poultry Production in Nigeria”, MAU J Agr Nat, vol. 4, no. 1, pp. 30–41, 2024, doi: 10.59359/maujan.1402657.
ISNAD Akpan, Sunday et al. “The Impact of Credit Policy Environment on Poultry Production in Nigeria”. Muş Alparslan University Journal of Agriculture and Nature 4/1 (March 2024), 30-41. https://doi.org/10.59359/maujan.1402657.
JAMA Akpan S, Essien C, Nkanta VS, Patrick İ-m. The Impact of Credit Policy Environment on Poultry Production in Nigeria. MAU J Agr Nat. 2024;4:30–41.
MLA Akpan, Sunday et al. “The Impact of Credit Policy Environment on Poultry Production in Nigeria”. Muş Alparslan University Journal of Agriculture and Nature, vol. 4, no. 1, 2024, pp. 30-41, doi:10.59359/maujan.1402657.
Vancouver Akpan S, Essien C, Nkanta VS, Patrick İ-m. The Impact of Credit Policy Environment on Poultry Production in Nigeria. MAU J Agr Nat. 2024;4(1):30-41.
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