Evaluating Poverty and Risk Attitude of Maize Farmers in Surulere Local Government Area of Oyo State, Nigeria: A Safety First Analysis Approach

G.E. Fanifosi¹ , L.T. Ogunniyi² , O.V. Aregbesola³ , T.A. Olaoye⁴ , J.O. Oladiran⁵ , O.A Ajao⁶

Section:Research Paper, Product Type: Journal-Paper
Vol.7 , Issue.6 , pp.78-82, Jun-2021

Online published on Jun 30, 2021

Copyright © G.E. Fanifosi, L.T. Ogunniyi, O.V. Aregbesola, T.A. Olaoye, J.O. Oladiran, O.A Ajao . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
This study examined the effect of poverty on risk attitude of maize farmers in Surulere Local Government Area of Oyo State. A multistage random sampling procedure was used to select one hundred and twenty respondents from the study area; a well-structured questionnaire was used to collect data. The data were analyzed using descriptive statistics, Safety First Analysis, Foster – Greer-Thorbecke (FGT) and regression analysis. The findings showed that majority of the respondents (68.3%) were male and married (69.2%). The majority of the respondents were poor (70%). Most (75%) of the farmers fell under intermediate risk group. Tobit Regression Analysis result showed that the major determinants of the risk aversion of the maize farmers were household size and extension agents’ visit. Lastly, it was found that Poverty has no effect on the risk averse of maize farmers in the study area. In view of these findings, it was recommended that; Government should made provision for agricultural extension agents to train and retrain farmers on the production of maize and that Maize Farmers should endeavour to take calculated risk since risk taking increase their productivity.

Key-Words / Index Term :
Poverty, Risk Attitude, Maize, Foster – Greer-Thorbecke (FGT), Tobit Regression

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