Key Features:

- No of Pages: 26

- No of Chapters: 05

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Introduction:

Abstract

The research on the financial institutions in agricultural development in Nigeria” A case study of Union Bank Plc was necessitated by the fact that the agriculture development has been on issue of great concern in Nigeria. The financial institutions particularly Union Bank Plc has played to the development of this sector are critically examined in the study. The study is also aware of the pass role of agriculture in the development process when cocoa and rubber products were our major source of revenue. The purpose of the study includes ways in which the Nigeria agriculture and financial institutions particularly Union Bank Plc have been trying to revamp the agricultural sectors, highlighting some of the problems which prevent the full realization of objectives of Union Bank Plc and finding solution to some of its problems. The research also includes the procedure methods used in collecting data and other important information. The primary data method is the first method used to collect data. All the information gathered in this method were mainly through personal interview. The other method termed participant observation affords the one opportunity to watch the social settings and attitudes of the people under references. Finally, the work has tried to examine the problems militating against small scale farmers and the full realization of Union Bank Plc objectives is agricultural development. Some policy recommendations that will help improve agricultural sector were made, these include the best policy formulation aimed at revitalizing the agricultural loans, increased rural banking (new branches and mobile banking scheme) favourable agricultural produce marketing policies, adequate infrastructural development and agriculture research and extension services. Also for policies to succeed, state government and their agencies are required to pay their loan in time so as to make the bank program work. Debts to Union Bank should be promptly paid without their liquidity will be adversely affected and of course limits the recycling of loanable funds. All these when needed in policy making will enhance sound agricultural development through the role of financial institution.

Table of Content

CHAPTER ONE: INTRODUCTION



Background of the study



Objectives of the study



Statement of the problem



Scope of the study



CHAPTER TWO: LITERATURE REVIEW



Agricultural credit in Nigeria



Problem of financing the rural sector



Agriculture by banking



Agricultural credit development



Objectives of the bank



Function of the bank



CHAPTER THREE: METHODOLOGY



Population size



Method of data collection



Research instrument



Method of data analysis



CHAPTER FOUR:



PRESENTATION AND ANALYSIS OF DATA



Presentation of data and Analysis of data



CHAPTER FIVE:



SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION



Summary of findings



Conclusion



Recommendation



BIBLIOGRAPHY



QUESTIONNAIRES

Introduction

BACKGROUND OF THE STUDY



Agricultural developments in Nigeria were established during the third National Development Plan (1975-1980) to enhance agriculture and food production. These are World Bank assisted projects consisting of an input delivery and credit supply system.



However the role of financial institution in agricultural development involves ways and means by which a farmer obtains the entire necessary fund required in order to carry out agricultural production. And it also deals with the supply of demand for funds in agricultural sector of the economy. Where a farmer has a sufficient capital of his own to carry out farm production he can then obtain credit from the best available sources.



Agricultural finance is playing significant role in the development of the agricultural sector because adequate fiancé is required by farmers to establish economic size farms or large scale farms, and to expand existing farms. Adequate finance also brings significant changes in the structure of agriculture. This is because finance enables the acquisition of machinery and farm equipment to substitute labour use and the purchase of other farm inputs.



The use of finance in farming leads to rapid increase in farm land value which necessitates the farmers to look outward for fund.



Agricultural finance from co-operative societies is very important in communities where credit institutions such as commercial banks are lacking; farmers who belong to a co0operative society can often get inputs against liens over produce for sale through the societies. Credit it normally limited to goods and services, but cash loans are sometimes made.



Therefore, agricultural fiancé is development are has been made mandatory in Nigeria through government directives on rural banking and the lending of a certain percentage of the banks loanable fund or deposit to agricultural sector of the economy.



As a result of the Nigeria enterprises 1972, the federal government of Nigeria acquired banks shares.



However, agriculture is very important in most developing countries.



The purpose of agricultural or land Banks is to help in the development of agriculture with the supply of credit. It requires to provide short and long term loans to farmers to carry our agricultural production.