Determinants of Savings and Investment Patterns of Cassava Farmers in Awka-North Local Government Area of Anambra State Nigeria

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February 17, 2025
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Ibezim (Uchenu), Chimezie Adamma PhD¹, Ilouno Emeka Ekpelu² & Ofoegbu, Meltus Ibezim³
¹Department of Accountancy, Anambra State Polytechnic, Mgbakwu
²School of Agricultural Technology, Anambra State Polytechnic, Mgbakwu
³Department of Economics, University of Nigeria Nsukka

ABSTRACT

The study was carried out In Awka –North L.G.A Of Anambra State, Nigeria. A multi-stage random sampling technique was used to select 144 cassava farmers. Primary data was collected with the use of structured questionnaire. Data was analyzed with the aid of descriptive statistics and inferential statistics. Findings showed that cassava farmers save and invest mainly for the purchase of improved varieties and species, agrochemicals and herbicides. Informal method of saving which involved saving through Isusu and money lending were the most identified ways of saving among the cassava farmers in the study area. Also, the knowledge of incentive for sufficient returns, advice received from friends and colleagues, risk of capital loss, and a place to retire were the influencing factors to savings and investment in the area. Based on the findings, the study concluded that there was a high propensity to save and invest among cassava farmers in Awka- North L.G.A of Anambra State.

Keywords: Cassava Farmer; Savings And Investment Patterns; Improved Varieties; Money Lending

IJFEA 5(1)1-8 Download

Cite as:
Ibezim (Uchenu), C. A., Ilouno, E. E. & Ofoegbu, M. I. (2025). Determinants of Savings and Investment Patterns of Cassava Farmers in Awka-North Local Government Area of Anambra State Nigeria. International Journal of Financial Economics and Accounting, 5(1), 1-8. https://doi.org/10.5281/zenodo.14881389

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