THE ROLES OF BANKING INDUSTRY IN THE AGRICULTURAL SECTOR OF NIGERIAN ECONOMY (A CASE STUDY OF EXCEL MICROFINANCE BANK ERUWA)


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ABSTRACT
          Role of banking industry in the Agricultural sector of the Nigeria Economy.
          This project was designed to bring out the roles of banking industry in the agricultural sector of Nigeria economy with Excel Microfinance Bank Eruwa as a case study.
          In the course of writing this project the following hypothesis were formulated to aid the study.
          There is no relationship between banking and agricultural productivity Bank does not have any significance on agricultural production.
          The employee of Excel Microfinance Bank Eruwa served as the population for this study out of which ten were sampled using simple random sampling method.
          Relevant literatures were reviewed to bring out the submissions and views of various authors on the topic of the study. 
          Questionnaires were administered on the staff of Excel Microfinance bank Eruwa and analysis were made on the data collected using simple percentage and responses were converted into percentages. 
          All the null hypothesis (Ho) were rejected and alternative hypothesis (Hi) were accepted. The analysis shows that
          i.        There is relationship between banking and agriculture.
          ii.       Banks have significance on agricultural production.
          With respect to the findings the findings the following recommendation were made that, government should encourage farmers to stay on the farm. By providing basic farm implement e.g. improved seedling fertilizer fumigant etc.
          That banks should give loans and advances at a reasonable rate of interest to farmers which in turn brings the banks profits.
          That farmers should use the loans granted for the purpose it was granted.


TABLE OF CONTENT
·        Title Page
·        Certification
·        Dedication
·        Acknowledgement
·        Abstract
·        Table of Content
CHAPTER ONE
1.0     Introduction
1.1     Statement of the Problem
1.2     Objective of the Study
1.3     Statement of the Hypothesis
1.4     Scope of the Study
1.5     Limitations of the Study
1.6     Significance
1.7     Definition/Meaning of terms
1.8     Historical Background

CHAPTER TWO
2.0   Review of Relevant Literature
2.1   Role of Finance
2.2   Characteristics of Agricultural Finance
2.3   Rural Banking Scheme
2.4   Prospect for Improvement in Agriculture

CHAPTER THREE
3.0   Introduction
3.1   Research Design
3.2   Research setting
3.3   Subjects
3.4   Study Population and Sample
3.5   Data Gathering Instrument
3.6   Validation of Research Instrument
3.7   Administration of Questionnaire
3.8   Treatment of Research Data
3.9   Problems Encountered

CHAPTER FOUR
4.0   Introduction        
4.1   Data Analysis

CHAPTER FIVE
5.0   Summary of findings, Recommendation and Conclusion
5.1   Findings
5.2   Suggestion
5.3   Conclusion
        Reference
Questionnaire


CHAPTER ONE
1.0   INTRODUCTION
                The aim of this research work is to examine the roles of banking industry in the Agricultural sector of the Nigerian Economy. Banking industry comprises of financial institutions that offers to its customers, services of receiving deposits and advancing loans, basically and making fund i.e. credit facilities to the general public and of course to businesses at a fairly low rate of interest which is payable within a specific period of time based on the type of loan or advance being granted to a particular customer.
        Bank in Nigeria includes Central Bank of Nigeria (CBN), Mortgage Banks, Development Banks, Merchant Banks, Commercial Banks, and Microfinance Banks among others.
        For adequate financing of Agricultural, there was an existence of Nigerian Agricultural and Co-operative Bank which had its head office in Kaduna, which was established in 1973 to cater for the farmers. As time went by, the ordinary Nigerian i.e the people at the grass-root level were thirsty of banking services and in an attempt to bring banking service to the less privilege. Hence, the need to establish Microfinance Bank which is close to the common man.        
        Agriculture is concerned with cultivation i.e. activities designed towards planting of crops, fishing, poultry and live stock farming, animal husbandry, piggery, dairy farming and of course development of forest. E.g. nurturing and cultivation of trees. It is one of the oldest industry and its origin can be traced to the earliest human existence. It is the foundation upon which many developed and stable human geographical area such as National Country (ies) state etc has depended in many part of the world.
        Agriculture in Nigeria accounts for the employment and absorption of about 70% of the total populace. Thus, it employs the largest percentage of the entire population.
1.1     STATEMENT OF THE PROBLEM
        The specific problems to be treated in the study are:
-         To find out whether banking have positive effect on agriculture.
-         To investigate the appropriate loan scheme to us and improve agricultural production.
-         To examine the reason some farmers were successful.
-         To examine various and types of loan scheme adopted by some farmers.
1.2   OBJECTIVE OF THE STUDY
        Some of the aims and objectives of the study are as follows:
1.     TO TRANSFORM AGRO-ALLIED SECTOR: The study is to help in the agro economy of the rural areas through provision of investment finance with establishment of microfinance bank in rural area, farmers have opportunity of investing their money and in turn they have access to loan on a fairly low rate. Therefore leading to investment on a viable project.
2      TO ENCOURAGE BANKING HABIT: Establishment of microfinance bank makes rural dwellers get enlightened on the importance of cultivate a saving (habit) attitude instead of spending money accrued to them on non-profitable activities and show them importance of rural saving scheme and some of the benefits derivable from doing such.


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