SOCIO-ECONOMIC CHARACTERISTICS AND SAVING PATTERN OF FARMERS’ COOPERATIVE SOCIETIES IN JOS-SOUTH L.G.A. OF PLATEAU STATE

Bose A. A., H. A. Danwanka, S. Mohammed, O. E. Okworoji

Abstract


The study examined socio-economic characteristics and saving pattern of farmers` cooperative societies in Jos South Local Government Area of Plateau State. Primary data were obtained from 120 farmers (Co-operators) purposively selected from 30 cooperative societies using semi-structured questionnaires and analysed using descriptive statistic and multiple regression techniques. Results showed that 73.33% of the cooperatives farmers were male. Also majority 91.66% have one form of education or the other and they had average age of 40.6 years. The average monthly disposable income and expenditure were N 58,908.33 and N42,722.05 respectively. While the average monthly saving was found to be N 6,865.83. Similarly, the average loans borrowed from cooperative societies were N 48,866.80. Further the result revealed that education, household income and farm size were found to be positively significant variables that influenced the amount of money been saved by cooperative farmers, while household size was negative but had significant influenced. The study further disclosed that problems affecting the co-operators in the study area comprised loan default, low membership and inadequate fund among others. It is recommended that cooperative societies should advice farmers (co-operators) to avoid loan diversion and create awareness in the communities as well as assisting members to increase their capital base by sourcing funds through formal financing institutions.


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References


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