TY  - JOUR
T1  - Rural Households’ Income and Savings Pattern in South-Western Nigeria
AU - Shitu, Gabriel A. 
JO  - Agricultural Journal
VL  - 7
IS  - 3
SP  - 172
EP  - 176
PY  - 2012
DA  - 2001/08/19
SN  - 1816-9155
DO  - aj.2012.172.176
UR  - https://makhillpublications.co/view-article.php?doi=aj.2012.172.176
KW  - Rural households
KW  -income
KW  -savings pattern
KW  -socio-economic characteristics
KW  -earned
KW  -Nigeria
AB  - This study examined income and savings pattern among 300 
  rural households in South-Western Nigeria. Data were collected using structured 
  questionnaire. Data were analyzed using descriptive statistics and probit regression 
  technique. Results showed that majority of the respondents were still within 
  the active age range with mean age of 40.7. Also, 75.2% of the respondents had 
  their annual income &lt;<img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">54,750 
  while 17.1% of the respondents earned between the range of <img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">54,751 
  and 109,500. About 5.5% earned between the range of <img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">109,501 
  and 219,000 while 2.2% earned annual income &gt;<img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">219,000. 
  Also 54.7% of the respondents had annual savings of &lt;<img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">10,000 
  while 23% of the respondents had their savings ranging between <img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">10,001 
  and 20,000 annum<SUP>-1</SUP>. Also 16.5% claimed that their savings were between 
  <img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">20,000 
  and 52,100 and 5.8% savings were than <img src="http://docsdrive.com/images/medwelljournals/aj/2012/img1-2k12-172-176.gif" width="12" height="12" align="absmiddle">52,100. 
  However, different socio-economic factors influenced the savings pattern of 
  rural households. These are households&#146; income, gender of the households 
  head, marital status and years of formal education. The study therefore recommended 
  that financial institutions in the rural areas should be less formal in their 
  operation so as to meet the financial needs of rural households and there should 
  be accessible loan with proper monitoring.
ER  -