The Effects Of Rural Banking On Development In Borno State

📄 Project Abstract

The rural sector which dominates the Nigerian economy has been stagnant of declining over the years. One of the major factors that account for the insalubrity is poor capital market which, largely inhibits the development efforts of rural entrepreneurs. One of the efforts made to overcome this obstacle by the Federal Government is the establishment of Rural Banking Scheme through the Central Bank of Nigeria in 1977. To bridge the gap between demand and supply for rural credit, the Rural Banking Scheme was saddled with the role of harnessing the financial resources of the rural sector ana channel same to productive ventures of the sector. Using data obtained from constructed questionnaires responded to by bank branch managers, farmers and small scale entrepreneurs in rural areas of Borno State, this study examined the extent to which Rural Banking Scheme has achieved its set objectives. The main objective is mobilization of financial resources and the provision of same to the rural econ...