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Economic Effects of COVID-19 Agricultural Loan Palliative on Poultry and Fish Farmers’ Production in Ondo State, Nigeria
Abstract
This study examined the effects of the COVID-19 Agricultural palliative loan on poultry and fish production in Ondo State Nigeria. The study specifically ascertained the socio-economic characteristics of the beneficiary farmers and determined the effect of the COVID-19 palliative loan on the farmers’ income level. A systematic sampling procedure was used in selecting 100 respondents for the study. Data were analyzed using frequency, percentage, bar charts, chi-square, T-Test and mean statistics. Findings revealed that 72% and 70% of fish and poultry farmers respectively were within the age group of 40-59 with a mean age of 51 years. Results also revealed that there was a 28.7% increment in the income of the fish farmers while poultry farmers received a 5.5% increment. There was no significant difference in the income of the fish farmers (t=-1.25) and poultry farmers (t=-1.24). It was recommended that there should be the creation of a loan monitoring and evaluation committee to provide continuous follow-up and technical support to future beneficiaries of such loans to ensure that they use the loan for the intended purpose.
