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Borrowing behaviour among oil palm processors in Idemili North Local Government Area in Anambra State, Nigeria
Abstract
The study analysed borrowing behavior among oil palm processors in Idemili North Local Government Area of Anambra State, Nigeria. A multi-stage sampling technique was employed in the selection of the 100 respondents. Primary data was collected with the use of structured questionnaire and personal interview with the respondents. Data were analyzed with the aid of descriptive statistics and multiple regression models. Results showed that 93% of the respondents demanded for and obtained between ₦100,000.00 – ₦250,000.00. Results of multiple regression analysis showed that processors age, output and farm size had significant positive influence on processors borrowing behavior with the exception of household size, income and marital status which had a significant negative influence on the behavior of the processors towards borrowing at various levels of probability. Based on the finding, the study recommended that young processors should be motivated with needed credit since they are innovative; males should also be encouraged to go into oil palm processing business, amongst other things.
Keywords: Borrowing, Behaviour, Oil palm and Processors
