AKSU Journal of Agricultural Economics, Extension and Rural Development

MICROCREDIT USE AND WEALTH STATUS AMONG CATFISH REARERS IN ABIA STATE, NIGERIA

Author:  Nze, E.O., Onwukwe, F.O., Ubokudom, I. A and Onyekwere, H. O.

Abstract
This study analyzed microcredit use and wealth status among catfish rearers in Abia State, Nigeria. The specific objectives included to: determine microcredit sources and uses among the catfish rearers in the State, determine their catfish rearing patterns, estimate their wealth status, and ascertain influence of microcredit use on their wealth status. A multi-stage, purposive and random sampling procedures were adopted in selecting 48 catfish rearers from 8 villages across various communities and LGAs. Primary data collected with a structured questionnaire were used. Descriptive and inferential statistical tools such as Foster-Greer-Thorbecke (FGT) model (expenditure approach) and Probit regression were adopted in data analysis. Results showed that 76.93% of the respondents sourced microcredit from private money lenders and the highest use of microcredit (N7,182,000) attested by 87.50% of the respondents was to acquire standard feed; 50.0% used rubber tank ponds to rear 17,400 catfish. Their wealth status line per month was N101,509; 87.5% of the rearers were wealthy and 12.5% were not. The use of microcredit to get standard feeds (5%), medication (1%) and water treatment (1%) positively influenced their wealth status, while using microcredit to purchase lime (5%) and fuel/diesel (10%) negatively influenced it. It was recommended that catfish rearers should uphold their increased use of microcredit is procuring standard fish, fish medication and water treatment for increased output and good wealth status.