NIGERIAN BANKING INDUSTRY AND AGRICULTURAL BUSINESS IN VIEW

Abstract

In developing countries and especially in oil producing Nations, agriculture has been neglected such that it has been left for the ruralites who happen to mainly get involved in peasant farming only, there by the need for the banking industry to get involved in the financing of farm business as an incentive for improved agriculture in Nigeria, this study used questionnaires and hypothesis tested. The sample size for the study is twenty senior staff and twenty-eight junior staff making a total of forty-eight (48) staff. This study made use of five points likert scale to award points to each of the research question responses. The research findings include that Union bank plc encourage the small-scale agricultural business in the economy in procurement of machinery and agricultural equipments. It gives special assistance to the small-scale business. The study made some recommendations amongst which are Small and medium size firms requires import licenses to bringing in machinery and equipment, spare part and raw material should be giving special attention by the government specially where such fund are to purchase goods and service with the ultimate objective of replacing imported ones. The Central Bank of Nigeria should encourage financing project through a number of commercial banks.