Management and Extension,
PM B 053 Abakaliki
Nigeria
Research Article
Agricultural Funding and Challenges of Deposit Money Banks in Nigeria
Author(s): Okoro FN and Nte Ikechukwu NwaliOkoro FN and Nte Ikechukwu Nwali
The study examined agricultural funding and challenges of money deposit banks in Nigeria using secondary data collected from Central Bank of Nigeria and National Bureau of Statistics reports. Data were analyzed using line graphs. Results showed that money deposit banks funding of agricultural sector was the least compared to other sectors of the economy from 1984 to 2009. The banks being profit oriented do not have the capacity to fund agriculture in Nigeria due to the concessionary interest rates of the Central Bank of Nigeria. More so, portfolio prescription policy of CBN constrained the ability of money deposit banks to maximize returns on their investment in agriculture. Similarly, money deposit banks were faced by so many challenges in their course of funding agriculture. Such challenges include: financial resources, economic, human resources, environmental, and political challen.. Read More»
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