Journal de l'économie mondiale

Economic Recession Coping Strategies in Nigeria: The Case of Rural Dwellers in Moro Local Government Area of Kwara State

Abstract

Ifabiyi JO and Banjoko IK

This study focused on the assessment of economic recession coping strategies in Moro local government area in Kwara state, Nigeria. Seventy rural dwellers were randomly selected for this study. Data were obtained using a structured questionnaire to elicit information on respondents’ socioeconomics characteristics, the sources of information, the perceived effects of economic recession on rural dwellers, the economic recession coping strategies and the perceived causes of economic recession. Result reveals that the mean age of the rural dwellers 51.8 years, 61.4% were married, 27.1 % had tertiary education and 32.9 % were farmers. The average monthly income of the rural dwellers were 12204.29 Naira (equivalent to 33 US dollars per month). The highest ranked perceived effects of economic recession were increased in prices of goods and services and that economic recession has encourage many rural dwellers to go back to farming (4.60). The coping strategies were working harder (2.73), changing life style (2.51) and borrowing money from family members and friends (2.31). Neglect of agriculture (4.67) and over dependence on crude oil (4.50) were the perceived causes of economic recession by the respondents. The result of PPMC reveals that there was a significant relationship between the coping strategies of the rural dwellers and their educational level (r = 0.604; p=0.049). The study recommends that there is need for government to make palliative measures that will cushion the effects of economic recession on the rural dwellers.