Loan Repayment among Sm all-Holder Maize Farmers in Kanke Local Government Area of Plateau State, Nigeria

Abstract

The main objectives of this study were to access the loan repayment performance of small-holder maize farmers in Kanke Local Government Area of Plateau State. A sample of 90 farmers was randomly selected and analyzed using percentages, means, and multiple regression. Results show that farmers received on average of ₦75,000 as loan. A large proportion of the farmers adopted mixed varieties of maize. Untimely loan disbursement, low market price of farm produce, and high interest rate were the major constraints militating against loan repayment. It was recommended that more credit from formal sources should be made available in large loan size to farmers. In addition, loan disbursement should be timely to avoid diversion while successful applicants should be trained on proper loan management.