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Financial Inclusion in Ondo State, Nigeria: Determinants and Its Impact on Poverty

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  • Akinlo A. Enisan
  • Sharimakin Akinwumi

Abstract

The study examined the determinants of financial inclusion in Ondo State, Nigeria, and investigated its impact on poverty in the state. The study used a survey method to obtain primary data by administering questionnaires on 450 adult individuals aged 18 years and above in the 18 local government areas of Ondo State. A multi-stage sampling procedure was used to identify the units of analysis individual. The results from logistic regression showed that the main determinants of financial inclusion in the state were age, genders, financial discipline, religion, income, location, trust, alternatives, ICT inclination, documentation, household size, tertiary education, married, civil servant, self-employed, distance 2 and distance 3 . Asides, financial inclusion was found to have a significant effect on poverty in the state. The article recommends increased financial inclusion in Ondo state to enhance the welfare of the people.

Suggested Citation

  • Akinlo A. Enisan & Sharimakin Akinwumi, 2019. "Financial Inclusion in Ondo State, Nigeria: Determinants and Its Impact on Poverty," Review of Market Integration, India Development Foundation, vol. 11(3), pages 151-175, December.
    • Handle: RePEc:sae:revmar:v:11:y:2019:i:3:p:151-175
    DOI: 10.1177/0974929220978343
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    References listed on IDEAS

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    3. Nicholas Odhiambo, 2005. "Financial Development and Economic Growth in Tanzania: A Dynamic Casualty Test," The African Finance Journal, Africagrowth Institute, vol. 7(1), pages 1-17.
    4. Caskey & John P. & Duran, Clemente Ruiz & Solo, Tova Maria, 2006. "The urban unbanked in Mexico and the United States," Policy Research Working Paper Series 3835, The World Bank.
    5. Jérôme Coffinet & Christophe Jadeau, 2017. "Household financial exclusion in the Eurozone: the contribution of the Household Finance and Consumption survey," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Data needs and Statistics compilation for macroprudential analysis, volume 46, Bank for International Settlements.
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