Track: Industry 4.0

Abstract

A structural equation model (SEM) method was adopted in this study to investigate the nexus between how government or banking sector financial support to farmers has enhance growth in Nigeria agricultural sector. Farmer totaling 500 were surveyed using a well-structured questionnaire in Ekiti State, south western part of Nigeria. Out of the 500-questionnaire distributed, about 362 feedbacks received was captured using a statistical tool, SPSS and evaluated by means of Analysis of Moment Structures. From the findings, we discovered that both short and long-time loan has a significant effect on farmers productivities. The short-time loan is mainly used in acquiring the basics better-quality seed and pesticides, while the long-time loan is used in acquiring capital equipment for farm use. The use of improved farm implements through the availability of long time loan has assisted farmers in increasing their productivity and has made farming easier for them. The study has been able to prove that the use of long-term loan by farmer foster and helps them maximize their productivity than the use of shortterm loan, hence, these study backs polices focused at increasing financial supports to farmers in Nigeria.