Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 15 ISSUE 3
Written by Charles Kelechi OSONDU, Chima Innocent EZEH, Chidozie Onyedikachi ANYIRO, Chinenye Loveth BERNARD

This study comparatively analyzed informal savings forms of male-headed and female-headed farm households in Aguata Local Government Area of Anambra State, Nigeria. 90 male and 90 female headed farm households were selected using multi-stage random sampling technique. Data was collected using structured questionnaire and analyzed using descriptive statistics, probit and Ordinary Least Square (OLS) regression models. Results showed that mean household size of both male and female headed farm households was 8 persons and that the male and female headed farm households saved a mean amount of N 96,138.00 and N 74,005.00 respectively in informal forms per annum. It was also observed that 90.00% and 83.33% of male and female headed farm households saved in form of cash at hand. The probit regression results revealed that household size, education level, saving distance and age were significant determinants of male headed farm households’ decision to save in informal forms, while, household size, income, saving purpose and interest on savings were significant determinants of female headed farm households’ decision to save in informal forms. The OLS regression results revealed that income, household size, education and age were significant determinants of amount saved in informal forms by male headed farm households, while income, age, saving distance and farm size were significant determinants of amount saved in informal forms by female headed farm households. It was recommended that government should educate farm households on the inherent benefits of maintaining low household sizes. Policies that reduce household size will improve savings of the farm households.

[Read full article] [Citation]

SPUPOPUPNO1