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Analysis of Impact of Financial Inclusion on Rural Farming Households in Nigeria: A Review

Author

Listed:
  • Agada, G O
  • Achike, A I
  • N. A Chukwuone, N A
  • Omeje, J E

Abstract

The smallholder agricultural sector in Nigeria occupies a substantial position in the country’s economy. Available evidence indicates that rural farming households who have remained in the vicious cycle of poverty constitute about 90% of the farming population. Thus, the rural farming households require financial interventions to improve their agricultural production and overall welfare. However, this agricultural segment is seemingly facing a challenge regarding inaccessibility to the required finances with which to obtain the necessary input for attaining the desired farm boost and yield. Therefore, this review is focused on investigating the how financial inclusion could impact positively on rural farming households in Nigeria. Literature search was conducted systematically to collect recent research evidence to support the study. Summarily, it was found that financial inclusion has significant potential to enhance agricultural performance and welfare among rural farmers.

Suggested Citation

  • Agada, G O & Achike, A I & N. A Chukwuone, N A & Omeje, J E, 2023. "Analysis of Impact of Financial Inclusion on Rural Farming Households in Nigeria: A Review," Nigerian Agricultural Policy Research Journal (NAPReJ), Agricultural Policy Research Network (APRNet), vol. 10(1), June.
    • Handle: RePEc:ags:naprej:343402
    DOI: 10.22004/ag.econ.343402
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    References listed on IDEAS

    as
    1. Evans, Olaniyi, 2016. "Determinants of Financial Inclusion in Africa: A Dynamic Panel Data Approach," MPRA Paper 81326, University Library of Munich, Germany.
    2. Honohan, Patrick, 2008. "Cross-country variation in household access to financial services," Journal of Banking & Finance, Elsevier, vol. 32(11), pages 2493-2500, November.
    3. Noelia Cámara & David Tuesta, 2018. "Measuring financial inclusion: a multidimensional index," IFC Bulletins chapters, in: Bank for International Settlements (ed.), The role of data in supporting financial inclusion policy, volume 47, Bank for International Settlements.
    4. Demirgüç-Kunt, A. & Beck, T.H.L. & Honohan, P., 2008. "Finance for all? : Policies and pitfalls in expanding access," Other publications TiSEM aec73d3a-d6eb-457f-9182-3, Tilburg University, School of Economics and Management.
    5. Evans Olaniyi, 2017. "Back to the Land: The Impact of Financial Inclusion on Agriculture in Nigeria," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 21(4), pages 885-903, Autumn.
    6. Abiola A. Babajide & Folasade B. Adegboye & Alexander E. Omankhanlen, 2015. "Financial Inclusion and Economic Growth in Nigeria," International Journal of Economics and Financial Issues, Econjournals, vol. 5(3), pages 629-637.
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