PROPOSAL
The objective of this study is to present a comprehensive account of the effect of rural banking scheme in Abia State with special emphasis to Ugwunagbor Local Government Area.
In chapter one, before the advent of oil production in commercial quantity, agriculture provides to bulk of Nigerian’s Foreign Exchange earnings. Ugwunagbor Local Government Area people are mostly tenders and farmer who cultivate large farmlands. The Federal Government through the Central Bank of Nigeria embarked on rural banking scheme.
In chapter two, in his study, the researcher has taken time to examining and reviewing these effects. It will be inappropriate to delve into effects of rural banking programme on a Local Government without giving an overview and up to date record of the structure of Banking Industry in Nigeria.
In chapter three, the effect of rural banking on a Local Government Area, there was the need for statistical data collection both from primary & secondary source. The design is structured under (i) data collection (ii) personal interview.
In chapter four, this is the presentation and analysis of data for this research work, it should be noted from the one set that the writer’s reaction to primary data for this project was obtained from the respondent responses to questionnaire administered to them.
In chapter five, in Ugwunagbor Local Government Area, they belong to various Isusu Union where they contribute money regularly and take times in collecting their money. This study made some important revelation. The following conclusion were drawn:
TABLE OF CONTENTS
Chapter One
1.1 Introduction 1
1.2 Objective of the study 6
1.3 Significance of the study 7
1.4 Statement of the problem 8
1.5 Hypothesis formulation 9
1.6 Scope and limitation of the study 10
1.7 Definition of terms 11
Chapter Two
Review of Related Literature 13
2.1 Definition 13
2.2 The structure of banking industry in Nigeria 13
2.3 Objective of the rural banking scheme - 25
2.4 The rural banking scheme 26
2.5 Appraisal of the rural banking scheme 39
Chapter Three
Research Design and Methodology 44
Chapter Four
Analysis and Presentation of Date 50
Chapter Five
Summary of Findings, Conclusion and Recommendation 61
5.1 Findings 61
5.2 Conclusion 62
Bibliography 66
Appendix 68
CHAPTER ONE
1.1 INTRODUCTION
In recent years, the oil sector appears to be the main stay of the Nigerian economy, but was and could still be said to be the base of Nigeria economic life. Despite he rural urban migration, it remains time that over 60% of the Nigerian population live in rural areas and earn their living from various agriculture pursuit. Also before the advent of the oil production in commercial quantity, agriculture provide the bulk of Nigerian’s foreign exchange earnings. Based on this premises therefore, the commercial banks and rural community are supposed to exist for mutual benefits with banks as tenders, the rural farmers and businesses as borrowers thus enabling both groups to complement their profit and growth objectives.
The economy of Nigeria therefore may be described as typically rural in every angle. About 85% of Nigerians lives in the rural areas. It will be therefore not wrong based on the analysis to say that the entire economic activities center principally around farming, forestry, food processing and handicraft. However, the dominant agricultural sector is characterized by small production units with holdings of about 2 to 3 hectares of land.
There is predominantly; lack of mechanization of agriculture, as a result there is every likehood that the total output is bound to be low. Secondly, the farmers in the rural areas are not encouraged financially which in a simple term accounts to lac
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