JAEQM

This study examined the socioeconomic factors influencing poultry farmers’ willingness to pay (WTP) for agricultural insurance in Kwara State, Nigeria. Primary data were collected from 126 respondents using a structured questionnaire and a multistage sampling procedure. The data were analyzed using descriptive statistics and a bivariate probit regression model. The results showed that the mean age and farming experience of the respondents were 48 years and 9 years, respectively. Most of the respondents were male, married, and had tertiary education. About 74.60% of the respondents were willing to pay for agricultural insurance, while 34.92% were willing to pay at the specified bidding premium. The results showed that WTP decreased with educational level and the amount respondents were willing to pay for insurance. WTP at the bidding premium increased with household size but decreased with farming experience, income, and mortality rate.

Downloads: 0