Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 25 ISSUE 1
Written by Aniekan J. AKPAETI, Essien A. ANTIA-OBONG, Nelson U. OKORIE, Idongesit M. UMOH

The study analyzed factors affecting the income levels of oil palm farmers after credit utilization in Akwa Ibom State. In addition, the study examined the constraints faced by oil palm farmers in obtaining credit. To select 145 respondents, a multi-stage sampling procedure was used. The data were collected and analyzed using descriptive statistics and multiple regressions. The finding reveals that three factors: household size (0.148), interest rate (-0.205) and non-farm income (0.218) significantly influenced the income level of the farmers. Almost all the identified constraints (10 out of 13) were seen as serious constraints faced by the respondents with lack of funds (4.24), high cost of input (4.19), inadequate farmland (3.71), Lack of agrochemicals (3.67) and lack of planting materials ranked(3.44) emerging as the first five major constraints. This gave a Grand mean of 3.29. For oil palm producers to maintain and improve their economic performance, financial facilities at reasonable interest rates should be made available to them by the federal and state governments. Planting materials, agrochemicals and other farm inputs that will boost oil palm production should be made available to the farmers at a subsidized rate.

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