Role Of Financial Institutions In Agricultural Development

The role financial institutions have played in the growth and development of Nigeria economy can not be overemphasized. There had been a growing realization of the importance of financial institutions in the growth and development of Nigerian economy due to the credit facility and various other services it rendered. The objectives of the study is to access the impact of Nigeria Agricultural Co-operative and Rural Development Bank (NACROB) in Enugu Zonal Headquarter on socio-economic status or rural farmers, and evaluate the National – livestock small holders loans scheme under the NACRDB among farmer in Enugu North. The instruments for data collection is through personal interview and administration of questionnaire as her primary source of data collection by the researcher and the sampling size of the study were 40 professional fishermen as beneficiaries and 25 people as non-beneficiaries. The method employed is through personal visit to NACRDB at Nsukka representative office. The data obtain in the questionnaires administered were scored and the percentages were calculated and presented in frequency tables. From the information gathered, it was observed that fishermen beneficiaries benefited from the loans and other services rendered by NACRDB as they purchased more of fishing input while the Non-beneficiaries enjoyed little or no benefits at all. It was concluded that right policies should be put in place and the constraints identified in the study be address.