Effect of socio-economic variables on credit needs of farmers in Kogi state, Nigeria

The effects of socio-economic variables on credit needs of farmers in Kogi state were investigated. A set of structured questionnaire was administered on 240 respondents randomly selected from eight communities in the state. The socio-economic variables considered in this study include: age distribution, farm size, farming experience, educational status, family size and farm income. The result showed a positive relationship between socioeconomic variables like: age, farm size and family size and credit required by farmers. Variables like educational status and farm income showed negative relationship with credit need. It was therefore, recommended that government, financial institutions and other relevant agencies involved in loan disbursement to farmers should take serious cognisance of their socio-economic background to determine the appropriate loan to individual farmers.Key words: credit needs, farmers, financial institution