AN EXAMINATION OF THE ROLE OF COMMERCIAL BANKS IN FINANCIAL OF AGRICULTURAL PROJECTS IN ENUGU STATE ( A CASE STUDY OF FIRST BANK NIGERIA PLC 1999 – 2003 )

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ABSTRACT
It has because very imperative to examine the role of commercial Bank in financing of A agricultural projects PLC, (1999 – 2003), is s topic so crucial that interested parties in the work many.
It is very vital considering the role of commercial banks in general and first Bank in particular play in financing of Agricultural. Project in Enugu state, in sustaining the Economy.
This creditable role being played by the above bank in sustaining the economy of Enugu state and the position of agriculture in the building of a venture find a self reliant nation attracted the attention of the researcher. The instrument with which the Central Bank of Nigeria Central the commercial Banks in general and first Bank in particular in terms of Agricultural loans were examined. With credit guidelines which comes out every year, Central Bank of Nigeria specifies, the minimum percentage of loan of agricultural sectors. Secondarily, the Federal Government of Nigeria and the Central Bank of Nigeria established the Agricultural credit guarantee the value fund by which the farmers who receive loan under it are guaranteed by the Central Bank of Nigeria. The liability of CBN is the case of default is up to 75%.
The study tried to find out whether the decline in agricultural output within the state has link with the absence of credit facility made available to formers by commercial banks in general and first bank in particular in financing of Agricultural projects in Enugu state, in doing so first Bank of Nigeria (FBN) PLC with Bank office and area offices within Enugu state were selected for studies, and because of size three local Government treas were also selected for study and the include Enugu East and Enugu South.. Cluster sampling was used to selected farmers on which questionnaire were administered.
Also used in collecting data was interview method because there were some farmer who were not very literate. The data collected was used testing the two hypothesis for the topic. The hypotheses included that carry out feasibility study to Agricultural farmers do not have any effect on commercial Banks in general and Bank in particular in financing of agricultural project in Enugu state, and commercial Banks aim general and first Bank in particular do not respond adequately to farmers in financing needs of agricultural project in Enugu state.
In testing the above hypothesis, chi – square test was used. The test concluded that carrying out feasibility study to Agricultural farmers in Enugu state do not have any effect.. It was also concluded that commercial Bank in General and first Bank in particular do not respond adequately to farmers in financing need of agricultural projects in Enugu state.
Other mirror issues in the researcher questions in the project were weighted to percentages.
In conclusion, commercial banks in general and first Bank in particular should be more encourage to assist agricultural sector and appropriate staff expansion recommended for effective supervision to avoid both loan default and diversion in Enugu state.
TABLE OF CONTENTS
Title page ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract viii
Table of contents xi
List of tables xv
List of figures xv
List of abbreviation xv
CHAPTER ONE
Introduction 1
1.1 Background of study 1
1.2 Statement of the problem 4
1.3 Purpose / objective of the study 6
1.4 Research question 7
1.5 Research hypothesis 8
1.6 Significance of study 8
1.7 Scope, limitations and delimitations 11
1.8 Definitions of terms 12
References 14
CHAPTER TWO
Review of related literature 16
2.1 The meaning of agricultural finance 16
2.2 Financing agricultural projects in developed country 17
2.3 Agricultural finance in Nigeria as a developing country 21
2.4 Problems facing agricultural project finance in Nigeria
commercial bank (first bank of Nigeria plc) 24
2.5 Agricultural financing in Enugu state 31
2.6 Evaluation of commercial banks (first bank
f Nigeria plc) performance in granting agricultural loans 31
2.7 Sources of agricultural finance in Enugu state 34
2.8 An overview of the federal government assistance
in relation to agricultural finance 35
References 40
CHAPTER THREE:
Research design and methodology 42
3.1 Research design 42
3.2 Area of study 43
3.3 Population 43
3.4 Sample and sampling techniques 44
3.5 Instruments of data collection 46
3.6 Methods of data presentation 48
3.7 Methods of data analysis 49
References 51

CHAPTER FOUR
Data presentation and analysis 52
4.1 Presentation of questionnaire 54
4.2 Discussion of result 70
References 73
CHAPTER FIVE
Findings, recommendations and conclusions 74
5.1 The findings of the study 74
5.2 Recommendations 77
5.3 Conclusions 80
Bibliography 81
Appendix 87
Questionnaires 88

LIST OF TABLES
4.1 Administration of questionnaire
4.2 Feasibility study table
4.3 Contingency table on loan application
4.4 Save custody respondent
4.5 Advisory services respondent
4.6 Conditions specified by banks
4.7 Respondent on granting of loan to agricultural projects
LIST OF FIGURES
4.1 Graph showing acceptance and rejection region
4.2 Graph showing level of significance
LIST OF ABBREVIATION
Acgsf – agricultural credit guarantee scheme funds
Camd – company and allied matter degree
C.B.N – central bank of Nigeria
Fao – food and agricultural organization
Fbn – first bank of Nigeria
Nig – Nigeria
Plc – public liability company
X2 – chi – square

CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF STUDY
In the immediate past decade and this present decade, there have been seminars, conferences, articles, Journals and various publications by both local, national and International Organizations on the sharp decline in Agricultural production on these various programmes, some of these workshops, conferences and seminars include the followings:
– The 13th Annual workshop of the South – West Research Extension Farmers impute Linkage system (REFILS) helped at the Institute of Agricultural Research and Training (I.A.R.T), Moor plantation Ibadan in March 2000 with topic “Adaptive Research and Method in Agriculture”.
– An Annual conference Organized by Agricultural Extension society of Nigeria (AESON) held at university of Ibadan Conference Society of Nigeria Centre, Ibadan on 10 – 12 April, 2000.
They emphases on the need to promote agricultural production to reduce the unguided population explosion which is at geometrical progression (G.P) while Agricultural production was only growing in an arithmetical progression. These seminars, workshops, conferences also reminded the populace world wide of the impending danger posed by the continuous deforestation practices of our forest reserve, bush burning overyrazury, continuos coming and other environment gradation hazards.
They panted out little or on concerted effort are made in replacing the deforested areas. They called on the need to embark on a national forestation scheme and forest conservation
In Nigeria, there bad been various campaigns for to inhabitants nationally to plant at least one tree crop in his vicinity annually (tree planting compaign) All these would have been uncalled for but for the indispensable role played by agriculture in Nigeria economy, justly this project work, Agriculture sector in developing and under – developed countries. It provides foods required for the teeming population in both the rural land populace. It also provides raw materials for our agricultural industries like Cotton to our textile industries.
Agriculture provides employment for about 60% of the labour force in developing countries. Agriculture also provides incomes to individuals, states, and the nation, to the peasant farmers and traders aluce. It provides money as income and means of live holds to the farmer who sells this farm wares to the populace. To the states, like Enugu state the cashew plantation at Ohhe not only provides raw materials to industries but also provide income to the state government and to the nation, it provides a means of export, thereby learning foreign exchange and consequently reducing the chorus balance of payment deficit prevalent in these region.
In 1969, Agriculture contributed 31% the cross Dmester product (GDP) in sierra Leone, 1957, it contributed over 61% to GDP in Nigeria and in the year 2001, proceeds from sales of grain (Agricultural product) in Nigeria amount to over N2.5N Billion (CBN Bullion Jan / March 2001) The percentage contribution of Agricultural sector to the national has seen declining since when the petroleum sector started contributing heavily to the national income. Presently, agriculture has assured a wider scope as against those days when agriculture was viewed as a narrow feed which includes the propagation of seeds and crops and the rearing of animals for man use. This does not fully inculcate all the relevant aspect of agriculture. Some agriculture in of seeds and crop, include souring and buying of farm input like seedlings machinery’s etc and the selling of its output (agricultural marketing) and the use and provision of credit in agricultural – financing). This later view is more prevalent now especially among the literate populace. The use and provision of agricultural credit will equally assist us in appreciating the role of commercial banks in financing agricultural project in Emugu state their problems and prospects. This forms the course of this project.
1.2 STATEMENT OF THE PROBLEM
The major concern of this study us to know from the lender (First Banks as the Commercial Bank) and the recount (Farmers and Agriculturists) loan effectively agricultural project are Financed in Enugu State a result of the donnreeening and indispensable role of commercial banks. Since the establishment of the bank in 1894, they has been carry out financial assistance to agriculturist.
Farmers encounter various difficulties when trying to get financial aids from commercial banks – some of these difficulties are as follows:
(i) Agriculturist / Farmers do not get financing aids such as Bank Loans / credit when they need it.
(ii) Commercial banks granting loan to farmers due to adequate collateral for such loan .
(iii) Illiteracy among the farmers also crenate a very difficulties because of this farmer do not o to banks to receiving advisory services which might help then to increase their p