Business
Council Wants Low-Interest Credit For Poultry Farmers
Some researchers at the
Federal University of Agriculture, Abeokuta, Ogun State, have called for low interest rate credit for poultry farmers from financial institutions to boost production in the sub-sector.
This is contained in the December 2014 Journal of Applied Agricultural Research of the Agricultural Research Council of Nigeria (ARCN), and made available to newsmen in Abuja on Tuesday.
The researchers said that agricultural credit was crucial to improving agricultural production and the transformation of the rural economy.
“Poultry farmers should be encouraged to have access to financial institutions and not the informal sources for obtaining credits at lower interest rate,” they said.
The researchers said that their recent research in Ogun showed that over 70 per cent of poultry farmers who use credit facilities got them from the cooperative societies.
“The research result showed that some 17. 9 per cent of farmers choose to have their source of credit from friends and relatives.
“The low patronage to banks for credit was due to inaccessibility of funds to rural farmers as a result of bureaucratic procedures and high service cost, which are very difficult for the farmers to meet.”
They stated that the informal source of credit was more popular among small-scale farmers, including the poultry farmers for certain reasons.
These reasons, the researchers explained, could be due to the relative ease in obtaining credit devoid of administrative delays, non-existence of security or collateral, flexibility built into re-payment, which is against what obtained in the formal sources.
The researchers in their recommendations also called for subsidy on the price and other feed ingredients for feeding birds in the country.
The topic of their study was “Effect of Credit use on Poultry Eggs Production in Ogun State.“
Another research carried out by a group of researchers from the Department of Agricultural Economics, University of Ibadan, also urged micro finance institutions to soften their terms and conditions as most farmers could not meet stringent conditions.
The researchers with the study, “Determinants Of Access To Micro-Credit Among Arable Crop Farmers In Kwara State,“ advised policy makers to promote social capital and the strengthening of group participation in credit scheme.
“It is imperative that farmers should be mobilised to form proactive society and micro finance institutions should be made accessible to farmers, “ they said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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