DETERMINANTS OF SAVINGS MOBILIZATION AMONG AGRICULTURAL MICRO CREDIT FINANCE GROUP MEMBERS IN DELTA STATE, NIGERIA

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The study was carried out to examine the determinants of savings mobilization among Agricultural micro credit finance group members in Delta State, Nigeria. Forty eight (48) micro credit groups and three hundred (300) micro credit group members were selected randomly from the sample frame and interviewed using structured questionnaires. Descriptive and inferential statistics were employed for the analysis of the data collected. The results of the multiple regression analysis revealed that a significant relationship at 1% level existed between amount of savings mobilized and age of group members, household size, educational level, group duration, distance to credit source, interest charged and member monthly income. It was also observed that 85% of the groups have existed for about 110 years with a mean group savings of N355,500 and an average group size of 13 persons. 92% of the micro credit groups adopted the non-random method of fund allocation with a mean distance traveled to source of credit at 15 kilometers and the mean interest charged on loans was 40 percent.

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