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Assessment of Agricultural Insurance Literacy Levels Among Agripreneurs in Obio-Akpor Local Government Area Rivers State, Nigeria

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  • Ugwuja, V C
  • Otu, P E

Abstract

This study examined agricultural insurance literacy level among agripreneurs in Obio-Akpor, Local Government Area, Rivers State, Nigeria. Specific objectives of the study were to identify the socio-economic characteristics of the agripreneurs; assess the level of agricultural insurance literacy among agripreneurs; assess the factors that influence the level of agricultural insurance literacy among agripreneurs and examine the perception of agripreneurs on agricultural insurance scheme in the study area. Data were collected with the aid of structured questionnaire, administered on eighty (80) agripreneurs. The data were analyzed using descriptive statistics and binary logit regression model. The result shows that 57.5% of the agripreneurs were in the age bracket of 31-40 years, 72.5% female, with 90% married and 72.5% household size was between 4-6 members. While 71.3% of the agripreneurs had secondary school education. The binary logit regression analysis shows that gender and farming association membership were statistically significant at 1% with -1.96 and 2.99 coefficient respectively influencing the levels of agricultural insurance literacy among agripreneurs. The study therefore, recommends that agripreneur should endeavour to insure their businesses against losses; agripreneurs should join farmers’ associations to be enlightened on benefit of insurance cover

Suggested Citation

  • Ugwuja, V C & Otu, P E, 2024. "Assessment of Agricultural Insurance Literacy Levels Among Agripreneurs in Obio-Akpor Local Government Area Rivers State, Nigeria," Nigerian Agricultural Policy Research Journal (NAPReJ), Agricultural Policy Research Network (APRNet), vol. 11(2), December.
    • Handle: RePEc:ags:naprej:348580
    DOI: 10.22004/ag.econ.348580
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    References listed on IDEAS

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    1. Li-Sha Fu & Tao Qin & Gan-Qiong Li & San-Gui Wang, 2024. "Efficiency of Agricultural Insurance in Facilitating Modern Agriculture Development: From the Perspective of Production Factor Allocation," Sustainability, MDPI, vol. 16(14), pages 1-21, July.
    2. de Janvry, A. & Dequiedt, V. & Sadoulet, E., 2014. "The demand for insurance against common shocks," Journal of Development Economics, Elsevier, vol. 106(C), pages 227-238.
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