RISK AND MANAGEMENT STRATEGIES OF YAM PRODUCERS IN BOSSO AND PAIKORO LOCAL GOVERNMENT AREAS OF NIGER STATE, NIGERIA

Abstract

The study investigated the risk and management strategies practice among yam farmers in Bosso and Paikoro Local Government Areas of Niger State, Nigeria. Sample size of 184 respondents was selected for the study through random sampling technique and data were collected using a structured questionnaire and an oral interview schedule. Descriptive statistics, safety first principle and MLE were used to analyze the data. The major risks faced by the respondents were thefts, natural disasters, variation in commodity price, change in government policy, and lack of stock. Also, all the farmers were intermediate risk averse and the factors influencing their attitude to risk were; gender, household size, access to credit and access to extension services. The management strategies adopted to mitigate these risks were vigilante, application of fertilizer, improved storage facilities, crop diversification and use of pesticide. It can be concluded that the farmers in the study areas have an inclination to adopt risk management measures in their production enterprises, therefore it is recommended that government at all levels as well as extension agents should encourage more people (especially the youth) in the rural areas to go into yam farming, as it was found to be profitable in the study areas and this will go a long way to add to their income as well as reduce food insecurity in the country. It was also recommended that yam farmers should be provided with more credit facilities that will encourage them and increase their capacity to adopt risk management strategies and as such reduce risk to the minimal level.