An empirical analysis of risk aversion among small holder farmers in Nigeria


Department of Agricultural. Economies University of Ibadan, Ibadan.


Plant production, agricultural income, small farms, farmers, risk, farms size, Nigeria


This study examines the extent to which incorporation of
attitudes toward risk in farm planning helps farmers to plan
for crop production i and policy makers, to appreciate farmers'
response to policy decisions. It provides some quantitative
information on risk attitudes of farmers under "the safetyfirst
principle" and Expected Income - Absolute Deviation (EA)
criterion. The relation between measured risk coefficients
and socio-economi,:: characteristics of the· farmers was also
Both primary and secondary data were utilized for the
study. The primary data were collected from the farming !.
population in three strategically located Agricul tural
Development Project areas in Nigeria: The Bauchi ADP which
covers part of midclle bel t and the Northern Agricul tural zone,
the Oyo ADP locatecl in the Western zone and the Imo ADP in the ·
Eastern Agricultur.11 zone of the country. The secondary data
were obtained from the past records of Defunct Oyo North
Agricultural Development Project (ONADEP), past studies in the
project area, publications of the Federal Office of Statistics
and Federal Ministry of Budget and Planning Lagos ( now
National Planning Commission).


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December 3, 1992


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