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Household Assets and Rural Finance in Nigeria

Author

Listed:
  • Onafowokan O. Oluyombo

    (Department of Financial Studies, Redeemer’s University, Ogun State, Nigeria)

Abstract

The study assesses the roles played by the loan service of cooperatives on household assets acquisition among cooperative members in rural communities of Ogun State where there is no bank.Independent student test and one way analysis of variance were used to analyze the data collected through questionnaire from 302 members. The study shows that the following assets – land, generator, television, radio and refrigerator – were more likely to be acquired by members than non-members. This is an indication of improvement in members’ standard of living made possible through access to cooperative loans. The study provided more evidence on the importance of land ownership, and how this is enhanced when rural communities have access to affordable loans. The study did not find evidence that cooperative members took advantage of the program, which is self sustained by their own savings, to acquire buildings and motor vehicles.

Suggested Citation

  • Onafowokan O. Oluyombo, 2013. "Household Assets and Rural Finance in Nigeria," Applied Economics Journal, Kasetsart University, Faculty of Economics, Center for Applied Economic Research, vol. 20(2), pages 55-74, December.
    • Handle: RePEc:aej:apecjn:v:20:y:2013:i:2:p:55-74
    as

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    References listed on IDEAS

    as
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    2. Joseph Kimos Adjei & Thankom Arun, 2009. "Microfinance Programmes and the Poor: Whom Are They Reaching? Evidence from Ghana," Global Development Institute Working Paper Series 7209, GDI, The University of Manchester.
    3. Anderson, C. Leigh & Locker, Laura & Nugent, Rachel, 2002. "Microcredit, Social Capital, and Common Pool Resources," World Development, Elsevier, vol. 30(1), pages 95-105, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Assets; rural finance; cooperative; standard of living; informal finance;
    All these keywords.

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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