Effects of poverty on risk attitudes of farmers in Benue state Nigeria

Authors

G. C. Aye, Central Bank of Nigeria
O. Oji, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Agriculture, Poverty, Risk attitudes, Farmers, Nigeria

Abstract

The Nigerian agriculture is characterised by low productivity low fam incomes and low levels of

technological adoption and we inefficient production technique. This poor state of Nigerian agriculture is related to farmers' attitude towards risk in the adoption of production techniques, as well as risk in the production and socioeconomic environment, this study therefore sought to specifically to: determine the extent of poverty among farmers in the area; assess the risk attitude of the farmers and determine the effect of poverty variables on risk attitude of farmers. A multi-stage random sampling technique was used for selection of respondent. Data were generated from both primary and secondary sources. The collected data were analysed using descriptive statistics, the Foster-Greer-Thorbecke poverty measure, safety first model of risk determination and multiple regression analysis. Results showed that majority of the farm households were poor, and that poverty determined their observed economic behaviour.

Author Bio

Aye is staff of the University of Agriculture while Oji central Bank of Nigeria.

Publication Title

CBN Economic and Financial Review

Issue

1

Volume

47

Recommended Citation

Aye, G. C. & Oji, O. (2009). Effects of poverty on risk attitudes of farmers in Benue state Nigeria. CBN Economic and Financial Review, 47(1), 89-104.