CREDITS REPAYMENT PRACTICES BY MEMBERS OF FARMERS MULTI-PURPOSE COOPERATIVE SOCIETIES (FMCS) IN SOUTH-EAST NIGERIA
TABLE OF CONTENTS
Title Page i
Declaration ii
Approval Page iii
Dedication iv
Abstract vi
Table of Contents vii
CHAPTER ONE: INTRODUCTION
1.1 Introduction 1
1.2 Background of the study 3
1.3 Statement of the General Problem 4
1.4 Objective of the study 5
1.5 Significance of the study 5
1.6 Statement of hypothesis 6
1.7 Scope of the study 6
1.8 Limitation of the study 7
1.9 Definition of terms 7
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 9
2.1 Review of related literature 9
2.2 Theoretical framework
2.3 Summary of review 33
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction 35
3.2 Research design 35
3.3 Area of study 35
3.4 Population of the study 36
3.5 Sample size 36
3.6 Instrument for data collection 36
3.7 Reliability of the instrument 37
3.8 Validity of the Instrument 38
3.9 Method of data Collection 38
3.10 Method of Data Analysis 39
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 41
4.2 Characteristics of the respondents 41
4.3 Presentation of Data Analysis 43
4.4 Discussion of Findings 48
4.5 Summary of findings 49
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary 51
5.2 Conclusion 52
5.3 Recommendation 53
Biography 54
Appendix 56
Abstract:
This abstract provides an overview of a study conducted to examine the credits repayment practices by members of Farmers Multi-Purpose Cooperative Societies (FMCS) in South-East Nigeria. The research aimed to explore the factors influencing credit repayment behavior and identify the challenges faced by cooperative members in meeting their repayment obligations.
The study employed a mixed-methods research design, combining quantitative surveys and qualitative interviews. A sample of FMCS members was selected using a stratified random sampling technique, ensuring representation from different cooperative societies in the South-East region of Nigeria. Quantitative data were collected through structured questionnaires, while qualitative data were gathered through in-depth interviews with selected cooperative members and key informants.
The findings revealed several factors influencing credits repayment practices among FMCS members. These factors included individual characteristics (such as age, education level, and farming experience), loan characteristics (such as loan amount and repayment period), social capital (such as trust and social norms within the cooperative), and external factors (such as market conditions and government policies). The study found that members who had higher levels of education, greater farming experience, and stronger social capital were more likely to repay their loans promptly.
However, the research also identified various challenges faced by cooperative members in meeting their repayment obligations. These challenges included limited access to credit, inadequate financial literacy, insufficient income generation, and unpredictable agricultural market conditions. Additionally, the study highlighted the importance of effective cooperative management, transparent governance, and supportive government policies to enhance credit repayment practices among FMCS members.
The findings of this study have significant implications for policymakers, cooperative leaders, and development practitioners. It underscores the need for targeted interventions to improve financial literacy, strengthen social capital, and promote sustainable agricultural practices. Furthermore, the study emphasizes the importance of creating an enabling environment that facilitates access to credit, provides timely market information, and supports cooperative members in overcoming the challenges associated with loan repayment.
Overall, this research provides valuable insights into the credit repayment practices by members of FMCS in South-East Nigeria. It contributes to the existing literature on cooperative finance and offers practical recommendations for enhancing credit repayment behavior, thus promoting the economic well-being of farmers and fostering the development of agricultural cooperatives in the region.
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