Credit is inferred to as an important catalytic in enhancing agricultural production but its access is determined and impeded by many factors. This study consequently examined the determinants of agricultural credit accessibility and challenges faced by farmers in accessing credit in South Western Nigeria. The population of this study comprised farmers in South Western Nigeria. Multi-stages sampling technique was adopted to select 225 farmers who benefitted from agricultural credits. Descriptive statistics was used to investigate the socio-economic characteristics of the farmers. Probit was used to analysed the determinants of credit accessibility. The results revealed that majority (91.1%) of the farmers were male with the average age of 49years. Largest percentage (85.5%) of respondents had formal education. Majority of farmers inherited their land with the average farm size of 5.9 hectares. Micro loan was most (64.4%) mostly available loan. The major problems faced by farmers in accessing credit are; frequent rejection of application, high difficulty in getting guarantor, delay in loan disbursement, high interest rate, high collateral required and administrative bottle-neck. The result of Probit regression indicated that, the marginal effects of years of schooling, main occupation, contact with extension agents, farm size and organization membership showed significant and had positive effects on access to credit. Years of farming experience was significant at 1% level with negative effect on credit accessibility. It was recommended that farmers should endeavour to join one or more farmers’ societies/organizations. Managements of Banks/credit bodies should make loan process simple and collateral required should be reduced.
