Institutional And Non-Institutional Credit Supply Services To Fisher Women In Coastal Fishing Communities Of South Western Nigeria: An Empirical Survey

Abstract

Ondo State occupies a unique position due to her natural fisheries resources in South Western Nigeria. Fisheries play a positive role in the supply of delicious and high quality protein food for the people of the country. Credit is a powerful doorway to reduce poverty. It helps the poor to fight against poverty with their own efforts. Particularly, empowerment of women can help to alleviate poverty and mobilize natural resources. Women play an important role in the processing and trading of fish. However, they are limited in their marketing opportunities and access to credit. Moreover, arrangement of adequate finance at market rate may contribute significant role in the socio-economic development of coastal women fisher folk in the study areas. Again financial support system needs to be dynamic so that concerned women fisher folk can get the benefits of institutional credit facilities. The paper focuses on the institutional and non institutional credit services and with reference to the coastal women fisher folk of the fishing communities of Ilaje and Ese Odo Local Government areas of Ondo State. The data and information have been collected from 150 women fisher folk of five fishing villages through questionnaire. Women in the study area prefer the informal, non institutional credit sources than the formal, institutional source as the poor fisher-folk require collateral for this which in most cases was not available. From the study, adequate finance with more relax conditions will go a long way in alleviating poverty and improving socio-economic development of the rural coastal fisher women.


Key words: credit services, fishing communities, sources of income, appropriate savings, and alternative credit systems.


Journal Of Agriculture And Social Research Vol. 5 (1) 2005: 73-80