Assessing Barriers and Sources of Adaptation Finance in the Context of Climate Change

This study examined barriers and sources of climate adaptation finance among crop farmers in Delta State Nigeria. Multistage sampling technique was used to select 112 farmers from 15 communities in Delta State. Primary data were collected through questionnaires and subjected to descriptive and inferential statistics. The farmers mean age was 43 years with 63.4% being female and 64.0% married. About 74.1% of respondents learned with 9 years average farming experience with mean income of ₦ 73067.23. About 78.6% of farmers were aware of credit sources and obtained an average of ₦ 95329.02 credit. The major reasons for adaptation financing were soil conservation, making buffers, adopting sustainable farm produce, planting trees, buying improved seedlings, and hiring additional labour. The foremost credit sources were informal money lenders, cooperative societies, personal savings, and friends/relatives. The dynamics that influenced credit accessibility were respondent sex, age, educational level, farming experience, income, marital status, cooperative membership, and awareness of credit sources. The major challenges to adaptation finance include zero collateral, a short period of repayment, delay in credit disbursement, high-interest rates, and secret charges. Credit sources should be invigorated to finance climate adaptation measures to ensure farmers' participation.