Effect of Poverty on Risk Attitudes of Farmers in Benue State, Nigeria

The study investigated the Effects of Poverty on the Risk Attitudes of
Farmers in Benue State, Nigeria. Nigeria has remained one of the poorest
countries in the world and Benue State in particular was ranked the eight poorest
of the thirty-six states of the Federation. The dominance of the oil sector and the
consequent neglect of agricultural sector is one of the major precursors of
poverty in Nigeria. Small-scale farmers who operate in an environment
characterized by risk and uncertainty produce the bulk of Nigeria's food and fibre.
Presently, the Nigerian agriculture is characterized by low productivity, low level
of technological adoption, and use of inefficient production techniques. The
present poor state of the Nigerian agriculture is related to farmers1 attitudes
towards risks in the production and socioeconomic environment.