Influence of Risk Management Education on Loan Behaviour Patterns among Agricultural Cooperative Members in Southwest Nigeria

This study assessed the influence of risk management education on loan behaviour patterns among Agricultural Cooperative Members, Nigeria with specific focus on accessing the role of socioeconomic characteristics of members of agricultural cooperatives; establish the influence of insurance in loan acquisition and repayment behavior among members of Agricultural Cooperatives in the area. Data were collected from 305 members, analyzed using regression model. The study revealed that exposure to pre-loan (t-stat= 4.52) and group education (t-stat.=29.51) services significantly improves loan repayment among cooperative members. The model explains 74.6% of the variance in loan repayment behaviour, suggesting that education services; effective monitoring, supervision methods and training meetings, significantly improve loan repayment behaviour. The findings conclude that socioeconomic factors are not strong determinants among the study area but repayment levels remain low indicating significant challenges in risk management education. Recommendations include that financial institutions should organize clear financial literacy programs to help farmers manage their loans. Financial training can improve repayment rates and enhance creditworthiness.