Impact of Financial Sector Reforms on Farmers Access to Agricultural Credit in Nigeria, 1981 - 2016

The study examined the impact of financial sector reforms on farmer’s access to agricultural loan in Nigeria. The specific objectives were to; compare the volume of loan accessed by the different agricultural subsectors in the different reform era, estimate the determinants of farmers access to agricultural loan, and determine the effect of the different financial sector reform overtime on farmers’ access to loan. Data for the study were obtained from CBN Statistical bulletin, CBN annual report, federal budget allocation report, annual reports and used for the study. Data obtained were analyzed using both descriptive and inferential statistics. The results showed that there was a significant difference in volume of loan accessed by the agricultural subsector. Results of the determinants of farmers’ access to agricultural loan revealed that, savings mobilized by financial institution, government budget allocation to agriculture and credits to private sector were the significant determinants of farmer’s access to agricultural loan. The study also revealed that financial sector regime era had a significant effect on farmers’ access to loan.