Lesson Notes By Weeks and Term - Senior Secondary School 3

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Term: 1st Term

Week: 2

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Agriculture

Topic:-      Agricultural credit

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Define agricultural credit
  2. State and explain the types of agricultural credit
  3. Discuss the problems farmers face from credit sources

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on agricultural finance

Students pay attention

STEP 2

EXPLANATION

She explains the meaning of agricultural credit

She states and explains the types of agricultural credit

Students pay attention and participates

STEP 3

DEMONSTRATION

She further discusses the problems faced by farmers from credit sources

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

AGRICULTURAL CREDIT

Agricultural credit refers to one of several credit vehicles used to finance agricultural transactions such as a loan, note, bill of exchange, or a banker's acceptance.

 

TYPES OF AGRICULTURAL CREDIT

  1. Short term Credit: This is a productive credit which the borrower is expected to refund in a year or less.  It may be used to purchase livestock feed, fertilizers, seeds, fuel, or to pay for hired labour.
  2. Medium term credit: This credit is to be repaid within a period of two to five years. It may be used to purchase machinery, breeding livestock or housing for livestock.
  3. Long term credit: This credit is repayable within a period of three to 20years. It can be used to purchase costly fixed assests such as land, construction of farm buildings, dams and irrigation projects.

 

PROBLEMS FACED FORM CREDIT SOURCES BY FARMERS

  1. Commercial Banks
  2. They are usually biased in favour of large-scale farmers only.
  3. They demand collateral which farmers cannot provide.
  4. There is the problem of relatively high interest rate.

 

  1. Community Banks
  2. The amount of credit is usually small and inadequate to meet the needs of farmers.
  3. They insist on a would-be lender coming to open account with them before loans are given.

 

  1. Money Lenders
  2. They are usually biased towards enterprises that bring in quick returns to repay the loan.
  3. Their interest rates are too high to allow for an appreciable input from the farm business.

 

  1. Family Sources
  2. The use of loan is usually small and inadequate
  3. They usually insist on short-term credit.

 

EVALUATION:   1. Define agricultural credit

  1. State and explain the types of agricultural credit
  2. Discuss the problems farmers face from credit sources

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively