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Apr 30, 2022Keywords:
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Main Article Content
Analysis of Factors Influencing Investment Patterns among Small Scale Rice Farmers in Kano State, Nigeria
Abstract
The study analyzed the socioeconomic factors influencing investment patterns among small-scale rice farmers in Kano State, Nigeria. The specific objectives were to determine the socioeconomic factors influencing the amount to save and describe the forms of investment in small-scale rice farmers in the study area. Multi-stage sampling technique was employed to select 158 respondents in the study area. Primary data were collected using a structured questionnaire, and the data analyzed using descriptive and multiple regression model. The result revealed the R2 value of 57.7% and F statistics value of 13.2, which was significant at 1%. The result also revealed that gender and age were positive and significant at 10%, farm size at 5%, and annual income at 1%, while household size was negative and significant 1%. The result further revealed that the purchase of seed accounted for 54.4%, while 33.5%, 20.3%, 25.3%, and 38.6% of the farmers invested in purchasing fertilizer, chemical, farm tools, and labor. Farmers invested in processing and packaging for off-farm investment, which accounted for 48.1% and 22.8%, respectively. While for non-farm investment, trading accounted for 39.2%, while building houses, purchasing land, education of children, and purchasing animals and others accounted for 13.9%, 23.4%, 30.4, 34.2% and 20.9% respectively. The study concludes that factors found to exert significant positive influence on the amount invested was gender, age, farm size and annual income. While household size exerts a significant negative influence on amount invested. On-farm investment was the major form of investment among rice farmers in the study area. It was recommended that farmers diversify into other non-farm income generating activities, increase the number of enterprise and land size, which will help boast income and not rely on single on farm activities alone to increase their investment opportunities.
