Volume 11, Issue 23, January - June 2025

Factors influencing access to inclusive finance among farmers in Ondo state, Nigeria

Adesina Oyelami¹, Iyanuoluwa Olamide Aliu², Oluwafemi Royal Aliu³, Adeola Oluwatosin Adeniran⁴

¹Sheffield Hallam University, Food Consumption Marketing and Product Development, United Kingdom
²Adekunle Ajasin University, Ondo State, Nigeria & Co-Founder, MyFarmbase Africa, Nigeria
³Department of International Department, School of Agriculture, Policy and Development, University of Reading, United Kingdom
⁴Department of Agricultural Science, Osun State College of Education, Ila-Orangun, Osun State, Nigeria

ABSTRACT

Food insecurity is a challenge that arises from insufficient access to food productivity which manifests in various forms in different households based on the available entitlements. For rural agricultural groups that most rely on subsistence agriculture, food security is chiefly realized through food productivity. Similarly, food productivity is enhanced based on the level of finance available for farmers. This study examined the factors influencing inclusive finance among farmers in Ondo state, Nigeria. This study adopts a mixed (qualitative and quantitative) research method. Data was obtained from six hundred fifty-seven (657) respondents through questionnaires that were administered to farmers in Okitipupa and Ayeka of Okitipupa Local Government Areas in Ondo State. Logistic Regression Analysis (LRA) was used to examine the critical factors influencing inclusive finance in agriculture. The study found that Transactions made by the use of E-Banking, Type of Crop Planted, Ownership of Farmland, Years of Farming Experience, and Ownership of Investment accounts are the critical factors influencing inclusive finance in agriculture in the study areas. Based on the findings, it is suggested that the factors identified should be critically examined when deciding on farmers that will have access to inclusive finance in Ondo State; therefore, access to inclusive finance should not be based on favoritism or political influence, the farmers should be encouraged to open an investment account to invest the credit, as this reality will enhance the sustainability of food production.

Keywords: Inclusive finance; Agriculture; Food productivity; Food security

Discovery Agriculture, 2025, 11, e2da1609

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DOI: https://doi.org/10.54905/disssi.v11i23.e2da1609

Published: 07 January 2025