Agricultural Financial Intervention and Livelihood of Farmers: A Study of Anchor Borrowers Programme in Anambra State, Nigeria

Abstract

This study examined the effects of Agricultural Financial Intervention on the livelihood of farmers narrowing on the Anchor Borrowers’ Programme in Anambra State, Nigeria. The research design used was a survey design. A total of 154 respondents were selected using the yardstick of farmers who have ever accessed funds from the programme. A well-structured questionnaire and interview were utilized to generate data from the respondents and analyzed using both descriptive and inferential statistical tools. The findings revealed that the Anchor Borrowers’ Programme had a positive and significant contribution to ease the burden of financing in agriculture among Farmers in Anambra State, Nigeria. ABP had positive and significant contributions to improve the agricultural value chain among farmers in Nigeria. ABP had negative and no significant contribution to boosting output among farmers, and ABP had a negative effect on improving profitability among farmers in Anambra State, Nigeria. Based on the findings of this study it was concluded that the Anchor Borrowers’ Programme presently has not fully improved the livelihood of farmers cooperatives in Anambra State, Nigeria, however, it has prospects of contributing significantly towards improving the livelihood of members.  This study, therefore, recommends that Agricultural expertise should be employed by the government to help in educating farmers on the best techniques to apply during agricultural activities to increase output. The ABP should also set up an active committee to assess farmers’ situation and obtain first-hand information before a loan is given, during courses of loan and at the point of harvest. This is aimed at discouraging farmers from providing false information and avoiding delays in repayment.