Loan accessibility, utilization and repayment in fish marketing: A case study of Lagos State, Nigeria

This paper analyzed the loan accessibility, utilization and repayment among fish marketers in Lagos State, Nigeria. Both primary and secondary data were collected and used for the study. A total of one hundred and-twenty (120) fish marketers were sampled using the multi stage sampling technique to select the respondents. The data collected were analysed using descriptive statistics and inferential statistics like linear regression-model. The result revealed that fish marketers in the study area are mostly females and it was observed that the fish marketers were within their economic active age with an average age of 44 years. The factors that determined amount of loan availed by fish marketers in the study area are: age, household size, education-level, marital status and membership of association. The factors that determined amount of loan repaid by-fish marketers in the study area were monthly income, number of household, number of years spent and loan-size. Therefore, Community and Agriculture Banks and others should provide funds with single digit interest-rate with long term repayment plan to the fish marketers in order to augment the impacts on non-institutional-based micro-finance agencies.