Abuja Journal of Agriculture and Environment (AJAE)

FACTORS INFLUENCING THE SAVINGS AND INVESTMENTS OF POTATO (Solanum tuberosum) FARMERS IN MANGU AND BOKKOS LGAs OF PLATEAU STATE, NIERIA
Author(s): Samson, D., Murtala, N., and Haruna, U.
Volume/Issue: Volume 1 , Issue 2 (2021)

ABSTRACT:

The study analysed the savings and investments patterns of potato farmers in Mangu and Bokkos Local government Areas of Plateau State. A multi stage sampling technique was employed to select 168 potato farmers. Primary data were collected through structured questionnaire and analysed using descriptive statistics and multiple regression models. The result revealed that majority (61%) of the potato farmers were in the age group of 31 – 50 years with the mean age of 42 years, 82 % were male and 61% had household size between 6-10 persons. Most (84%) of the potato farmers were married. The result further revealed that52%of the farmers earn less than N500, 000 while the average income in the study areas was N603, 202 per annum. The regression analysis revealed that annual income and years of experience significantly influenced savings at (p<0.01), farm size and membership of cooperative were significant at (p<0.05). Also, the factors that significantly influenced investment were years of experience (p<0.01), income from potato and off farm activities (p<0.05). The constraints of savings faced by the potato farmers were low income(86.3%) and low interest paid by the bank (58%) while constraints of investment were inadequate capital(90.5%) and high cost of inputs at 82.1%. It was concluded that the factors influencing savings in the study area were annual income, years of experience, farm size and membership of cooperatives while factors influencing investments where investments were years of experience, income from potato and off farm activities. It was recommended that potato farmers should be trained on the importance of savings and investments and also form formidable cooperatives.

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