Nigerian Journal of Banking and Financial Issues (NJBFI)

AGRIPRENUEIRAL ORIENTATION, RISK APPETITES, SUPPLY CHAIN EFFICIENCY AND SUSTAIANABILITY AMONG SELECTED FARMERS IN THE SUBURB OF LAGOS STATE

Abstract

The agricultural sector in Nigeria faces significant challenges, including inefficient supply chains and low productivity, which can be mitigated through a more entrepreneurial approach. This research aims to understand how the entrepreneurial mindset of farmers (agripreneurial orientation) and their willingness to take risks (risk appetites) influence the effectiveness and long-term viability of their supply chain operations. However, utilizing a cross-sectional survey design, data was collected from 300 smallholder farmers operating in the peri-urban areas of Lagos. The study employed a structured questionnaire to measure the key constructs. Descriptive statistics were used to profile the respondents, while correlation and regression analyses were performed to test the formulated hypotheses. Findings indicate a significant positive correlation between agripreneurial orientation and both supply chain efficiency and sustainability. The results also suggest that risk appetite acts as a mediating variable, enhancing the positive effect of an entrepreneurial mindset on supply chain outcomes. Farmers with a higher risk appetite are more likely to adopt innovative practices and technologies, leading to more efficient and sustainable supply chains. The research concludes that fostering an agripreneurial culture and understanding the risk-taking behavior of farmers are crucial for improving agricultural supply chains in the region. The findings have important policy implications, suggesting that support programs and training should focus not only on technical skills but also on cultivating an entrepreneurial spirit and a rational approach to risk management. This will ultimately contribute to enhanced food security and economic development in Lagos State and beyond.