Abstract:

This study examined the savings behaviour and its determinants among plantain farmers in Ogba/Egbema/Ndoni Local Government Area of Rivers State, Nigeria. Specifically, the study described the socio-economic characteristics of plantain farmers, analyzed their level of savings, determined the factors influencing savings, and identified the constraints associated with savings. The primary data collected and analyzed from 143 respondents reveled that the mean monthly income was ₦139,545. The average annual gross income of the farmers was ₦1,429,742.19, while the average annual savings amounted to ₦419,687.50, giving an average propensity to save of 0.29, indicating that farmers saved about 29% of their gross income. Multiple regression analysis showed that production cost was the only variable that significantly influenced savings (p < 0.05).The hypothesis test revealed that the determinants included in the regression model did not jointly exert a significant influence on savings (p > 0.05), hence, accepting the null hypothesis. The study concludes that although plantain farmers demonstrate a moderate saving culture, their savings capacity is constrained mainly by economic and financial factors. It recommends policies aimed at increasing farm income, reducing production costs, improving access to affordable financial services, among plantain farmers.