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An Analytical Study of the Determinants of Access to Insurance Services in Rural Nigeria

Author

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  • Sani Ibrahim, Saifullahi
  • Muhammad Aliero, Haruna

Abstract

This paper analyses the determinants of accessibility of insurance services in rural areas of Nigeria. The paper uses cross-sectional primary data sourced through a structured questionnaire from 384 respondents dwelling in rural areas of Katsina state. In analysing the data Logit modelling approach was used to find a significant positive influence of age, access to credit, educational attainment and availability of insurance services on access to insurance services. Moreover, the influence of income and gender are positive but statistically insignificant. Contrary, the study finds a significant negative influence of marital status on the accessibility of insurance services in rural areas. The study therefore concluded that deepening of insurance services in rural areas requires a special intervention taken into cognisance of religious viewpoint of these people. We recommended among other things, that while establishing micro-insurance in the rural areas of Northern Nigeria should be in conformity with the principles of Islam.

Suggested Citation

  • Sani Ibrahim, Saifullahi & Muhammad Aliero, Haruna, 2010. "An Analytical Study of the Determinants of Access to Insurance Services in Rural Nigeria," MPRA Paper 87493, University Library of Munich, Germany, revised 16 May 2010.
    • Handle: RePEc:pra:mprapa:87493
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    References listed on IDEAS

    as
    1. Morduch, Jonathan, 1994. "Poverty and Vulnerability," American Economic Review, American Economic Association, vol. 84(2), pages 221-225, May.
    2. Ogujiuba Kanayo & Ohuche Friday & Adenuga Adeniyi, 2004. "Credit Availability to Small and Medium Scale Enterprises in," Macroeconomics 0411002, University Library of Munich, Germany.
    3. Saifullahi Sani Ibrahim, 2012. "An Alternative Approach to Ending Economic Insecurity in Nigeria: The Role of Revolving Credit Association," International Journal of Economics and Financial Issues, Econjournals, vol. 2(4), pages 395-400.
    4. Christopher Udry, 1994. "Risk and Insurance in a Rural Credit Market: An Empirical Investigation in Northern Nigeria," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 61(3), pages 495-526.
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    Cited by:

    1. Abdullahi Shagali, Aminu & Sani Ibrahim, Saifullahi & Mukhtar, Shuaibu, 2020. "Contemporary issues on the sustainable rural development in Sub-Saharan Africa: A survey of salient literature," MPRA Paper 101443, University Library of Munich, Germany.
    2. Zulekha Ndurukia & Agnes W. Njeru & Esther Waiganjo, 2017. "Factors Influencing Demand for Micro Insurance Services in the Insurance Industry in Kenya," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(7), pages 232-259, July.

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    More about this item

    Keywords

    Insurance; Income; Shocks; Katsina;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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