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Informal savings strategies among farm headed households in Ohafia Local Government Area Of Abia State, Nigeria: A gender situation analyses
Abstract
This study comparatively analyzed informal saving strategies of male and female headed farm households in Ohafia Local Government Area of Abia State, Nigeria. Multistage random sampling technique was employed in selecting 54 male headed and 54 female headed farm households from whom data were collected using semi-structured questionnaire. Data collected were analyzed using descriptive statistics and Ordinary Least Square (OLS) multiple regression technique. Results showed that mean farm size of the male and female headed farm households were 1.63 hectares and 0.72 hectares respectively, while, mean farm income of the male and female headed farm households were N214,560 and N146,807 respectively. Results also showed that 66.67% and 46.30% of the male and female household heads respectively had access to credit, and saved a mean amount of N162,089 and N95,340 per annum respectively. Results further showed that 77.78% of the male headed households and 51.85% of the female headed households saved in form of cash at home. The OLS multiple regression results revealed that age, household size, distance to savings centre, income, farm size and amount of credit received were significant determinants of amount saved in informal forms by male headed farm households, while, age, educational level, income and distance to savings centre were significant determinants of amount saved in informal forms by female headed farm households. The study therefore calls for policies aimed at addressing these factors to help improve savings of farm households in the area.
Keywords: Farm households, household heads, and informal savings
