Abstract
This study examines the impact of Fadama III Additional Financing Project on the income of cassava farmers in Akwa Ibom State, the specific objectives include: examine the socioeconomic characteristics of beneficiaries and non-beneficiaries of Fadama III Additional Financing in Akwa Ibom State, determine and compare income levels of beneficiaries and non-beneficiaries of Cassava based Farmers in the area, assess the impact of the programme on the well-being of the beneficiaries, identify the constraints of the Fadama III AF programme efficiency and assess the financial performance of the beneficiaries and non-beneficiaries in the study area, Nigeria. Primary data were collected using a well-structured questionnaire from beneficiaries (120) and non-beneficiaries (120) of the programme in the state and a multistage sampling technique was used. Descriptive statistics, multiple regression, ranking and financial ratios were employed to analyze the collected data. The results showed a mean age of 49 and 51 years for beneficiaries and non-beneficiaries respectively. The monthly income results showed that 16.7% and 16.0% earned N 10, 000 – N 30, 000. 45.0% and 45.0% earned N31, 000 – N 50, 000, 28.3% and 27.2% earned N 51, 000 – N 60, 000 while 12.5% and 12.0% earned above N 60, 000 for the two groups. The difference in mean income, crop output, farm size, household asset, and cost of labour employed in farm operations between Fadama III beneficiaries and non-beneficiary cassava farmers were statistically significant at 1.0% level of probability. The result further showed a current ratio of 1.67 and 1.42 respectively for the beneficiaries and the non-beneficiaries. This indicated that the beneficiaries are better off but the two categories of farmers were in good positions to pay off all their current liabilities with the available assets. The research recommended that the programme be extended to have more beneficiaries.