Determinants of Savings Capacity among Agribusiness Entrepreneurs in Yobe State, Nigeria

The study is an attempt to determine the savings capacity among agribusiness entrepreneurs in Yobe State of Nigeria. The specific objectives of the study were to describe the types of savings prevalent among agribusiness entrepreneurs; and identify and analyze the socio-economic factors that determine the probability of savings decision among agribusiness entrepreneurs. Data were collected from 200 agribusiness entrepreneurs selected using multi-stage sampling technique. Data collected were analyzed using frequency distributions, percentages, and Logit model. The results indicate that socio-economic characteristics of agribusiness entrepreneurs significantly influence the probability that they will save; agribusiness entrepreneurs prefer saving their money Asusu mode of saving. It was recommended that policies to improve savings should inculcate the socio-economic characteristics of these entrepreneurs; campaigns to promote the benefits and dangers of not saving should be encouraged; and conventional banks should partner with Asusu to mobilise savings amongst agribusiness entrepreneurs in the study area.

Keywords: Determinants; Savings capacity; Agribusiness entrepreneurs; Yobe state