THE ROLE OF NIGERIAN AGRICULTURAL AND COOPERATIVE BANK IN THE DEVELOPMENT OF AGRICULTURAL IN NIGERIA

THE ROLE OF NIGERIAN AGRICULTURAL AND COOPERATIVE BANK IN THE DEVELOPMENT OF AGRICULTURAL IN NIGERIA

CHAPTER ONE

INTRODUCTION

1.1        BACKGROUND OF THE STUDY

Agriculture is the mainstay of Nigeria economy, the major occupation of the rural people. Its role in the socio-economic development of Nigeria cannot be overemphasized. It provides employment for more than 80% of the Nigerian population. Umebali (2002) however pointed out that “despite the fact that more than 50% of the total labour force is involved in farming yet output is not enough to feed the ever increasing population” presently the population growth rate is higher than food production level.

The roles of co-operatives in agricultural development is an important topic of study and much has been done by scholars and co-operators to justify it prime role of securing economic and political development in the country. The improvement of agricultural production through co-operative has economic effect in that; cooperative enterprise brings better yield which in turn yield better standard of living for the members and their families.

In Anambra state, a good number of inhabitants survive through substantial farming; which attracted the formation of many co-operative, and their aim is to improve the agricultural production. In Awka North Local Government Area, cooperatives provide locally needed services and inputs to farmers, they also serve as a medium in which government distribute essential commodities and inputs needed by farmers for the facilitation of their output. Onugu and Uguwanyi (2007) noted that agricultural co-operative societies are involved in so many aspects of agricultural activities directed at giving farmer the support to rise their productivity and income level. In order to highlight the contributions of cooperatives towards the development of agriculture, this study was hence carried out.

1.2        STATEMENT OF THE PROBLEM

In the effort to improve the agricultural sector in Nigeria, the government embarked on various programmes some of which were listed by Iwuchukwu and

Igbokwe (2012) as; National Economic Empowerment and Development Strategy (NEEDS) – 1999, National Special Programme of Food Security (NSPFS) – 2002 and the Root and Tuber Expansion Programme (RTEP) -2003.

THE ROLE OF NIGERIAN AGRICULTURAL AND COOPERATIVE BANK IN THE DEVELOPMENT OF AGRICULTURAL IN NIGERIA